Carvill

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Carvill is one of the largest independent and private intermediaries in specialty reinsurance products. Carvill was formed in 1977 and contends that it's represented some of the most influential insurers, specialist underwriting groups and reinsurers in the world.
Its main business segments include treaty reinsurance, retrocession, financial products and customized programs for clients when their business, or market conditions, require more than a transactional approach to provide an effective product. It has access to reinsurers licensed and regulated in major reinsurance markets (USA, Bermuda, UK).
==Carvill Hurricane Index (CHI)==
Carvill’s ReAdvisory team created the Carvill Hurricane Index (CHI), which determines a numerical measure of the potential for damage from a hurricane, using publicly available data from the National Hurricane Center of the National Weather Service. The CHI incorporates many factors about the hurricane, such as sustained wind speed and the radius of hurricane force winds, and is a continuous measurement.
The commonly used Saffir-Simpson Hurricane Scale (SSHS) classifies hurricanes in categories from 1 to 5; however there are a number of features which make the scale less than optimal for use by the insurance community, and the public at large. For example, meteorologists have had to quantify SSHS categories as either ‘strong’ or ‘weak’ in order to make a proper distinction of a storm. As a case in point, Katrina was described as a weak category 4 storm at the time of its landfall but this did not provide a real estimate to the actual physical impact. And Hurricane Wilma in 2005 was at one point in its life the strongest storm on record. However, the CHI highlights that at its strongest, Hurricane Katrina had more potential for damage than Wilma, despite its lower wind speed, since Katrina was a far wider storm. The Saffir-Simpson scale would be unable to make this distinction clear. 
==2008== 
Carvill has said that trading its Carvill Hurricane Index (CHI) contracts continues to grow on the Chicago Mercantile Exchange (CME) and the nominal value of derivatives traded has nearly hit $60m. Brokers have said that in addition to exchange traded activity there is also considerable interest in bespoke over the counter (OTC) derivatives and more conventional reinsurance based on the index.
The Carvill contracts were launched in March 2007 and are based on the maximum wind velocity and size (radius) of each official storm as it hits land, before subsequently settling 36 hours after landfall. 
== History ==
*Established in London in 1977
*Accredited Lloyd’s Broker since 1979
*Lloyd’s Market Insurance Brokers Committee (LMBC UK) member since 1979
*Hamilton office licensed as an insurance broker under Section 10 of Insurance Act 1978
*Established Bermuda operations in 1982
*Established U.S. operations in 1984
*Joined Brokers and Reinsurance Markets Association (BRMA USA) in 2001
*R.K. Carvill & Co Ltd authorized and regulated by the Financial Services Authority since 2005
*Established licensed offices in Atlanta (1989), Chicago (1984), New York City (2005) and Boston (2006)
== References ==
==Resources==
Carvill Hurricane Index: Overview 
Category:Weather