Archive for December, 2012



December 14th, 2012

Week’s Top Stories: December 8 - 14, 2012

Posted at 3:54 PM ET

Identifying New and Emerging Risks: By utilizing such information, (re)insurers have improved their awareness of the threat posed by terrorists. Although there are significant challenges when attempting to predict and react to events, companies continue to seek to identify new risks as they arise.

Read the article >>

 

Guy Carpenter Asia-Pacific Climate Impact Centre Issues Predictions of Tropical Cyclone Activity in Australian Region: Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter & Company and City University of Hong Kong, issued its annual predictions for the 2012/2013 tropical cyclone season for the Australian region. The final forecast is for near-normal activity (12 tropical cyclones) for the region.

Read the article >>

 

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.

Read the article >>

 

Guy Carpenter Publishes Second Annual Insurance Risk Benchmarks Report: Guy Carpenter has published its second annual Insurance Risk Benchmarks, a resource designed to help insurers assess risk parameters and improve economic capital modeling. The report provides benchmarks for underwriting and reserve risk by line of business and by industry segment for U.S. exposures, and can be used by insurers when benchmarking their economic capital models.

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Superstorm Sandy: Initial Impacts and Implications: Guy Carpenter has published a new briefing: Superstorm Sandy: Initial Impacts and Implications. As documented by the National Hurricane Center, Superstorm Sandy made landfall as a post-tropical cyclone at 8PM EDT, Monday, Oct 29, 2012, with maximum sustained winds of 80 miles per hour.

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Most Popular Keyword:  cwil reinsurance

 

And, you may have missed…..

Resilient Capital Levels: Another driver of low valuations has been sector book value or capital growth (the denominator in the price-to-book ratio). Figure 1 shows the increase in reported capital since the middle of 2011 for the Guy Carpenter Reinsurance Composite. This growth has been particularly impressive as the sector experienced an exceptional series of costly catastrophe losses during this time.

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December 13th, 2012

Identifying New and Emerging Risks

Posted at 1:00 AM ET

David Flandro, Global Head of Business Intelligence, Julian Alovisi, Assistant Vice President, Lucy Dalimonte, Senior Vice President, Ellen Rieder, Managing Director and Emma Karhan, Senior Vice President
Contact

By utilizing such information, (re)insurers have improved their awareness of the threat posed by terrorists. Although there are significant challenges when attempting to predict and react to events, companies continue to seek to identify new risks as they arise.

Continue reading…

December 12th, 2012

Global Terrorist Attacks

Posted at 1:00 AM ET

David Flandro, Global Head of Business Intelligence, Julian Alovisi, Assistant Vice President, Lucy Dalimonte, Senior Vice President, Ellen Rieder, Managing Director and Emma Karhan, Senior Vice President
Contact

The increasingly diverse and dispersed threat has seen worldwide terrorist activity rise in recent years. The number of global terrorist attacks peaked at more than 14,400 in 2006 (see Figure 1). Although there has been a general decline in the number of attacks over the last five years, they remain at historically high levels.

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December 11th, 2012

Guy Carpenter Asia-Pacific Climate Impact Centre Issues Predictions of Tropical Cyclone Activity in Australian Region

Posted at 1:00 AM ET

Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter & Company and City University of Hong Kong, issued its annual predictions for the 2012/2013 tropical cyclone season for the Australian region. The final forecast is for near-normal activity (12 tropical cyclones) for the region.

Continue reading…

December 10th, 2012

The Global Terrorist Threat Today

Posted at 1:00 AM ET

David Flandro, Global Head of Business Intelligence, Julian Alovisi, Assistant Vice President, Lucy Dalimonte, Senior Vice President, Ellen Rieder, Managing Director and Emma Karhan, Senior Vice President
Contact

Al-Qaeda Core Group

Al-Qaeda suffered a massive setback when U.S. forces killed Osama bin Laden in Pakistan in May 2011. The death of bin Laden was a huge blow to the al-Qaeda core group and represented the most significant counter-terrorism success for the United States to date. This, along with the demise of several other senior al-Qaeda figures in drone strike attacks in Pakistan, has weakened the core group’s capability to conduct spectacular attacks against Western countries. Nevertheless, al-Qaeda’s ideology and threat remain, and its aspiration to carry out large-scale attacks against Western interests has been reinforced by the new leadership of Ayman al-Zawahiri.

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December 7th, 2012

Week’s Top Stories: December 1 - 7, 2012

Posted at 10:30 AM ET

Global Unrest and Political Instability Prompts Reevaluation of Terrorism Risk and Coverage: The dramatic rise in political instability and civil unrest across the globe, including uprisings in the Middle East and protests in Greece and Spain, has triggered a significant shift in the nature of terrorism risk and has highlighted the need for tailored terrorism and political violence protection, according to a new report on global terrorism and the terror reinsurance market, “Tensions Building: the Changing Nature of Terrorism Risk and Coverage,” released by Guy Carpenter.

Read the article >>

 

Superstorm Sandy: Initial Impacts and Implications: Guy Carpenter has published a new briefing: Superstorm Sandy: Initial Impacts and Implications. As documented by the National Hurricane Center, Superstorm Sandy made landfall as a post-tropical cyclone at 8PM EDT, Monday, Oct 29, 2012, with maximum sustained winds of 80 miles per hour.

Read the article >>

 

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.

Read the article >>

 

Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry: Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry is the latest installment in Guy Carpenter & Company’s legislative update series, designed to provide our international clients and markets with a concise overview of key trends in the Continental European legal environment. These issues have had an impact on insurers and reinsurers or are expected to have an effect in the near future.

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Reinsurance Protection:  Aggregate Covers: Reinsurance remains the best form of protection against catastrophe losses. Following the increased frequency of major catastrophic events witnessed in 2010 and 2011, many companies are revisiting the benefits of aggregate coverage. Aggregate coverage has long been offered in the reinsurance market because it is a solution that focuses on mitigating the impact of the frequency of loss. While much of the focus for catastrophe coverage is around severe shock losses, aggregates are also useful for horizontal coverage needs or a combination of frequency and severity.

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Most Popular Keyword:  rate on line

 

And, you may have missed…..

Risk Preference Function - Embedding Risk-Reward in Capital Allocation: Capital allocation decisions are among the most important decisions made by company management. Through our own research and thought leadership and our observance of best practices at clients around the world, Guy Carpenter’s Enterprise Risk Management Advisory practice has compiled a set of leading practices around capital allocation for (re)insurers.

Read the article >>

 

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December 7th, 2012

The Changing Terrorist Threat

Posted at 1:00 AM ET

David Flandro, Global Head of Business Intelligence, Julian Alovisi, Assistant Vice President, Lucy Dalimonte, Senior Vice President, Ellen Rieder, Managing Director and Emma Karhan, Senior Vice President
Contact

The global terrorism landscape, and the threat posed by fundamentalist Islamic terrorists in particular, has changed dramatically since the catastrophic events of September 11, 2001. Before these attacks, al-Qaeda had a well-funded and centralized leadership that enabled it to generally operate under the radar of intelligence agencies and to plan large-scale and spectacular attacks. Since then, military operations in Afghanistan and Pakistan and the killing of several key terrorist operatives have marginalized the core al-Qaeda group. This, coupled with close counter-terrorism collaboration between Western nations, as recently demonstrated by the extradition of Abu Hamza from the United Kingdom to the United States, has prevented al-Qaeda’s core from executing other large-scale attacks on the scale of September 11, 2001.

Continue reading…

December 6th, 2012

Tensions Building; The Changing Nature of Terrorism Risk and Coverage: Executive Summary

Posted at 1:00 AM ET

The terrorism landscape has evolved in the 11 years since the attacks of September 11, 2001, in the United States. During this time, the core al-Qaeda group has been weakened by the death of its leader, Osama bin Laden, the effect of U.S. drone strikes in Pakistan and stringent counter-terrorism measures implemented in the Western world. Nevertheless, al-Qaeda’s ideology and threat remain. Major terrorist attacks have occurred in Indonesia, Madrid, London and India since 2001, and the emergence of strong and independent al-Qaeda affiliate groups in unstable regions of the world now poses a significant threat to Western interests.

Continue reading…

December 4th, 2012

Global Unrest and Political Instability Prompts Reevaluation of Terrorism Risk and Coverage

Posted at 11:30 PM ET

The dramatic rise in political instability and civil unrest across the globe, including uprisings in the Middle East and protests in Greece and Spain, has triggered a significant shift in the nature of terrorism risk and has highlighted the need for tailored terrorism and political violence protection, according to a new report on global terrorism and the terror reinsurance market, “Tensions Building: the Changing Nature of Terrorism Risk and Coverage,” released by Guy Carpenter.

Continue reading…