November 21st, 2017

Survey: 80 Percent Say Treasury Plays a More Strategic Role Today Than Three Years Ago; Part I

Posted at 1:00 AM ET

Treasurers increasingly play a more strategic role as their traditional roles become more critical to their organizations and they assume a wider range of responsibilities, including investor relations, insurance risk management, integrating supply chain management and real estate. This greater strategic role with more responsibilities illustrates the increasingly vital role that treasurers play in supporting senior executives, according to new research from the Association for Financial Professionals (AFP).

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November 20th, 2017

Understanding Systemic Cyber Risk; Insights Through Pandemic Behavior

Posted at 1:00 AM ET

platt-jeremybhamory-crop-smshafer-chris-sm1Jeremy S. Platt, U.S. Cyber Specialty Practice Leader, Guy Carpenter; Bruce Hamory M.D., Chief Medical Officer for Health and Life Sciences at Oliver Wyman Consulting and Christopher Shafer, Assistant Vice President, Guy Carpenter

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  • Jeremy S. Platt is Managing Director and U.S. Cyber Specialty Practice Leader at Guy Carpenter; Bruce Hamory, M.D. is a Partner and Chief Medical Officer for Health and Life Sciences at Oliver Wyman Consulting. They represent operating companies of Marsh & McLennan Companies.

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November 17th, 2017

Week’s Top Stories: November 11 - 17, 2017

Posted at 12:18 PM ET

Just Say “Know” to Insurtech: Insurtech’s impact on the insurance industry is surging, reminding us of the influence that technological change and growth bring to the modern consumer and business landscapes and individual industries.

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From Risk to Resilience: Marsh & McLennan Companies Cyber Handbook 2018: Perspectives on the Next Wave of Cyber: The 2018 edition of the Marsh & McLennan Companies Cyber Risk Handbook provides insights on the shifting cyber threat environment, emerging global regulatory trends and best practices in the journey to cyber resiliency.

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Guy Carpenter Reports US Insurance Market at a Crossroads but Opportunity Exists: Guy Carpenter today released a study outlining a dynamic insurance industry facing a changing economy and pressure in once-stable lines, but with opportunity for those with management skill and understanding of risk.

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Insurers Challenged by Forces of Technology Disruption: Here we review recent GC Capital Ideas posts on the need for the insurance industry to come to terms with the forces of technological disruption challenging their business models.

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China Risk Oriented Solvency System (C-ROSS): The China Insurance Regulatory Commission (CIRC) is instituting sweeping changes through its three-tiered China Risk Oriented Solvency System (C-ROSS) framework that will dramatically impact how (re)insurers conduct business. It will strengthen capital requirements, risk management and transparency disclosures - bringing China in line with, and in some cases overtaking, global standards. The C-ROSS framework is similar to Solvency II: three tiers focusing on quantitative, qualitative and disclosure requirements.

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And, You May Have Missed….

Asia Pacific Catastrophe Report 2017: Executive Summary: Protection Gap and Convergence Capital: The proportion of losses uninsured in the Asia Pacific region remains high. For example, examination of this year’s major landfalling typhoons in China shows a wide discrepancy between economic and insured losses.

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November 16th, 2017

Threat Trends on Major Cyber Attacks in 2017

Posted at 1:00 AM ET

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The Marsh & McLennan Companies Cyber Risk Handbook 2018 is published.

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November 15th, 2017

From Risk to Resilience: Marsh & McLennan Companies Cyber Handbook 2018: Perspectives on the Next Wave of Cyber

Posted at 1:00 AM ET

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Cyber risk continues to grow as technology innovation increases and societal dependence on information technology expands. A new and important turning point has been reached in the struggle to manage this complex risk. In the war between cyber attackers and cyber defenders,we have reached what Winston Churchill might call “the end of the beginning.”

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November 14th, 2017

Just Say “Know” to Insurtech; Part II

Posted at 1:22 AM ET

claude-yoder-cropClaude Yoder, Global Chief Innovation and Product Development Officer

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Continuing the discussion of insurtech’s surging impact on the insurance industry.  Part II focuses on what carriers should be doing and compelling trends for growth.

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November 13th, 2017

Just Say “Know” to Insurtech; Part I

Posted at 1:00 AM ET

claude-yoder-cropClaude Yoder, Global Chief Innovation and Product Development Officer

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Insurtech’s impact on the insurance industry is surging, reminding us of the influence that technological change and growth bring to the modern consumer and business landscapes and individual industries  -  the development of fintech within financial services being an example.

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November 10th, 2017

Week’s Top Stories: November 4 – 10, 2017

Posted at 10:00 AM ET

Insurers Challenged by Forces of Technology Disruption: Here we review recent GC Capital Ideas posts on the need for the insurance industry to come to terms with the forces of technological disruption challenging their business models.

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Insurers Adapting in a Time of Disruption: Here we review recent GC Capital Ideas posts on strategies insurers may utilize to continue to achieve growth in a disruptive environment.

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For MPL, Market Softening Continues in 2016: Since 2010, the medical professional liability (MPL) industry has been navigating a soft market, with declining profitability, diminished investment gains and rising accident year operating ratios. Yet, reserve redundancies have kept calendar year combined ratios below 100 percent, allowing carriers to pay dividends to policyholders while maintaining favorable returns on equity. Recent trends in the MPL insurance industry, including more aggressive competition among carriers and a leveling off of frequency trends, are driving accident year combined ratios higher.

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Asia Pacific Catastrophe Report 2017: Executive Summary: A year marked by generally benign loss experience and few large catastrophe events meant that rates continued to remain positive for buyers in the Asia Pacific region throughout 2017. At the same time, the trend for steady growth in limit purchased continued. Much of the new limit purchased tends to be at the top of programs, and this feeds through to lower overall average rates on line (ROL), which is also reflected in the indices.

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Reinsurance Market Poised to Remain Vibrant Following Recent Catastrophe Events: The recent series of catastrophic events - earthquakes in Mexico, Hurricanes Harvey, Irma and Maria - is reminding cedents that reinsurance is one of the most effective ways to protect corporate capital bases; Harvey on its own is likely to be an earnings event that will probably not require an increase of industry capital; the addition of the cumulative effect of the earthquakes in Mexico and Hurricanes Irma and Maria, however, could create a capital event;  and the earthquakes and hurricanes provide an opportunity to define the viability and effectiveness of the 144A product. We expect that these instruments will demonstrate their effectiveness and serve their intended purpose.

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And, You May Have Missed…

Guy Carpenter Reports US Insurance Market at a Crossroads but Opportunity Exists: Guy Carpenter released a study outlining a dynamic insurance industry facing a changing economy and pressure in once-stable lines, but with opportunity for those with management skill and understanding of risk.

Read the article>>


Click here to register to receive e-mail updates>>

November 9th, 2017

For MPL, Market Softening Continues in 2016—Signs of Pressure Emerge

Posted at 4:00 AM ET

Steve Underdal, Managing Director; Greg Bliss, Managing Director; Matt Walter, Senior Vice President and Blake Berman, Senior Vice President

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Since 2010, the medical professional liability (MPL) industry has been navigating a soft market, with declining profitability, diminished investment gains and rising accident year operating ratios. Yet, reserve redundancies have kept calendar year combined ratios below 100 percent, allowing carriers to pay dividends to policyholders while maintaining favorable returns on equity. Recent trends in the MPL insurance industry, including more aggressive competition among carriers and a leveling off of frequency trends, are driving accident year combined ratios higher. Without the continued tailwind of favorable reserve development, current market rates could prove unsustainable, driving market hardening in the coming years.

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November 8th, 2017

Insurers Adapting in a Time of Disruption

Posted at 4:00 AM ET

Here we review recent GC Capital Ideas posts on strategies insurers may utilize to continue to achieve growth in a disruptive environment.

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