April 27th, 2012

Week’s Top Stories: April 21 - 27, 2012

Posted at 11:00 AM ET

Spatial and Temporal Earthquake Clustering - Earthquake Aftershocks: EQECAT Perspective: EQECAT recently released a white paper examining earthquake clustering in the context of seismic hazard and loss assessment. The paper, Spatial and Temporal Earthquake Clustering: Part 2 - Earthquake Aftershocks, is EQECAT’s second in a three-part series about spatial and temporal earthquake clustering. This briefing presents a summary of the paper.

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Guy Carpenter Convenes Local Practitioners for Index-Based Catastrophe Micro(re)insurance Seminar in Mozambique: Guy Carpenter, in conjunction with Asia Risk Centre (ARC), a division of RMS, held a training seminar in Maputo, Mozambique on the development, design and application of index-based approaches to catastrophe micro(re)insurance in low-income countries. The event took place as part of the organizations’ joint project under International Finance Corporation’s Global Index-Insurance Facility (GIIF) initiative, of which Swiss Re is a strategic partner. The event occurred in March, 2012.

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European Countries Face Continued Challenges Adapting Local Legislation to EU Legal Requirements: Guy Carpenter published its semiannual report on key legislative developments in Europe affecting liability insurers and reinsurers. A number of these developments underscore the challenges in adapting local legislation and jurisprudence to European Union (EU) and international law.

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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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April 1, 2012, Reinsurance Renewals: U.S. Property Catastrophe: With regional renewals dominating Guy Carpenter’s renewal activity at April 1, 2012, there was a wide range of risk adjusted price change with the average in line with January 1 renewals. The renewal has been late and data is still being analyzed, however, similar to the January renewals, results depended significantly on individual company characteristics.

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And, you may have missed…

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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