The Week in a Minute, July 8, 2011

Slow week.

The news

  • 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.

Viral

Dust storm strikes Phoenix. I don’t think these storms are unusual, but this one was well-photographed.

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