July 6th, 2012

Week’s Top Stories: June 30 - July 6, 2012

Posted at 10:30 AM ET

Guy Carpenter Asia-Pacific Climate Impact Centre Publishes Third Annual Report on Region’s Climate: The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter & Company and City University of Hong Kong, released its third annual report, which presents the findings of the 27 research projects conducted by GCACIC members on climate issues in the Asia-Pacific region in 2011.

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Managing Catastrophe Model Uncertainty, Issues and Challenges: Here we bring together the segments of the popular series authored by John Major, which focuses on the issues and challenges in managing catastrophe model uncertainty.

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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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Plentiful Capacity Sets the Stage at June 1 Reinsurance Renewals: More moderate pricing trends were evident at the June 1, 2012 reinsurance renewals as the relatively light catastrophe loss activity during the first five months of the year contributed to positive reinsurer results and plentiful capacity, according to a briefing released today by Guy Carpenter.

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Top Solvency II Stories in GC Capital Ideas:  Here we highlight GC Capital Ideas’ recent top stories covering the evolving Solvency II capital requirements regime.

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Most Popular Keyword:  adverse development cover

 

And, you may have missed…..

TRIA, U.S. Terrorism and International Terrorism: Effect on the Insurance and Reinsurance Markets: Commercial insurers are strongly supportive of the Terrorism Risk Insurance Act of 2002 (TRIA), as it provides them an ultimate safety net for their terrorism exposures. However, the residual risk for terror events retained by insurers below the triggers and retention levels set by the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA), coupled with the relatively high cost of reinsurance in key exposure zones, means that insurers remain cautious about terrorism exposure. As a result, they continue to avoid accumulating high-profile urban exposures.

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