Guy Carpenter Publishes Third Installment of “Succeeding Under Solvency II” Guide for Re/Insurers: Guy Carpenter announced the publication of Succeeding Under Solvency II - Special Considerations for Reinsurers and Counterparty Risk, the third report in the firm’s series on Solvency II preparedness developed for re/insurers operating in or covering risks in Europe. The new report examines: The potential risks to cedents arising from Solvency II; the positive developments for cedents under Solvency II and strategies for managing counterparty default and credit risks.
Tohoku Quake and Tsunami…An Industry Meets the Challenge - Economic Impact: Now that we are more than a month on from the Great Tohoku Earthquake, the (re)insurance industry can take advantage of hindsight to understand the implications of this tragedy and take steps to improve capital management for the future, in order to better protect cedents and original insureds. Of course, the situation remains fluid. New information continues to become available, and that will have a salient impact on the actions that (re)insurers take as a result of the catastrophe. Yet, there is some early information that carriers can use to manage their capital.
Tohoku Quake and Tsunami…An Industry Meets the Challenge - Impact on Commercial Insurance: Bowring Marsh is the International placement arm of Marsh, where we advise our global network and clients on direct, market based solutions, predominantly for property and casualty exposures. The vast majority of our clients are sophisticated, risk management buyers with an emphasis on global, multinational businesses. This article focuses on the policies issued outside of Japan, what we have seen to date, and the impact on the direct, commercial marketplace.
Severe Weather in Southern United States: Severe weather in southern regions of the United States spawned dozens of tornadoes on April 27, damaging hundreds of properties and killing around 200 people in five states. The fatalities occurred in Alabama, Georgia, Mississippi, Tennessee and Virginia in what is being described as the worst tornado outbreak in the United States since 310 people were killed on April 3, 1974. According to the National Weather Service (NWS), the storms spawned more than 140 tornadoes across the region and brought strong winds, heavy rain and large hail to several areas on April 27. The severe weather spread from Texas to Georgia and is forecast to hit the Carolinas before moving further northeast. Several states suffered power outages and widespread property and infrastructure damage has been reported.
Global Reinsurance Outlook: Points of Inflection, Positioning for Change in a Challenging Market: Executive Summary: Early predictions that January 1, 2011 reinsurance renewal rates were likely to fall have been proven correct. The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) Index lost 7.5 percent - the second consecutive annual decline. Contributing to this move has been a combination of factors, including moderate loss activity and abundant levels of industry surplus.
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Terrorism Risk Insurance 2010: Marsh survey reveals more than 60 percent of organizations bought coverage in 2009: Despite an ever-changing terrorism risk insurance market, businesses from every industry sector continue to purchase coverage - more than 60 percent of organizations surveyed by Marsh bought coverage in 2009. This report provides a snapshot of the major issues and trends surrounding terrorism insurance in 2010.