- Stress tests for Solvency II standards were released. 10% of insurers failed, but their shortfall wasn’t great. Sounds like a lot of small companies will be shopping for reinsurance. I weighed in here.
- The state-run Texas Windstorm Insurance Association has run out of money for Hurricane Ike claims. TWIA had collected $2.1B for claims but has incurred $2.3B in losses. Artemis has more.
Dust storm strikes Phoenix. I don’t think these storms are unusual, but this one was well-photographed.