March 9th, 2012

Week’s Top Stories: March 3 - 9, 2012

Posted at 10:00 AM ET

Floods in Eastern Australia: Heavy rain has caused widespread flooding across parts of Queensland State and New South Wales State in eastern Australia, damaging hundreds of homes and businesses and forcing thousands of people to evacuate their properties. The floodwaters have reached record levels in some areas, isolating several communities.

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Eurozone - Reinsurance Contract Issues: The implications of the many possible outcomes of the current “Eurozone Crisis” are profound and unpredictable and in some cases, unprecedented. The implications are also wide-ranging, embracing political, economic and legal dimensions. Such complexity gives rise to different, not to say contradictory, interpretations and predictions. However, we can only be certain that actual events, when they happen, will follow their own unique trajectory.

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Risk Profile, Appetite, and Tolerance: Fundamental Concepts in Risk Management and Reinsurance Effectiveness: Prior to the recent turbulence in the financial markets, insurers and reinsurers were increasing their use of enterprise risk management to make risk and capital management decisions. While this was driven in part by rating agencies and regulators, many carriers began to recognize the value of metric-based frameworks and capital models in evaluating their portfolios.

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State of the Reinsurance Market, Part I: Deleveraging Cycle, Growth Expectations: As we bid farewell to a tumultuous 2011 and enter 2012, it is becoming very clear that the (re)insurance sector will remain exposed to profound changes in the global economy. The coming year promises to be one of economic, monetary and political transition.

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Insurers See Growth in Program Administrators and Managing General Agents Marketplace in 2012, According to Guy Carpenter Survey: Specialty program insurance providers predict that the Program Administrators and Managing General Agents (PA/MGA) market will grow in 2012 as a result of changes taking place in program business, according to a survey conducted by Guy Carpenter. In its annual study of the PA/MGA marketplace, Guy Carpenter surveyed both traditional insurance companies with specialty program operations and specialty insurance carriers about their program business and the direction of the PA/MGA marketplace.

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And, you may have missed…

MetaRisk® ReserveTM: How to Get Ahead of the Reserving Cycle: The impact of claims inflation on eroding returns is among the most vexing challenges that insurers face. Getting ahead of the reserving cycle would be a significant competitive advantage, but many carriers do not have the right tools at their disposal. As a result, the ability to hit target return on equity (ROE) levels is put at risk, and firm value hangs in the balance.

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