September 20th, 2013

Week’s Top Stories: September 14 - 20, 2013

Posted at 8:00 AM ET

Global Warming: The Evolving Risk Landscape: Global warming is an established scientific fact, and one that cannot be explained by statistical “noise” or natural variability alone. The single greatest threat under global warming is that of sea-level rise, which is expected to increase coastal flood frequency and severity under tropical cyclone, extratropical cyclone and tsunami events. The growing urban footprint and population density in coastal areas amplifies the financial and societal implications of such events. Changing weather patterns will lead to increased risk under flood and drought, with implications for agricultural, wildfire and water resources management.

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Effective Enterprise Risk Management: With Solvency II and similar regimes in place and still on the horizon in some countries, and the continuing evolution of rating agency requirements, the last decade has seen the (re)insurance industry fully embrace the practice of enterprise risk management (ERM). As a trusted advisor to (re)insurers globally, Guy Carpenter has observed firsthand what it takes to implement ERM successfully. An ERM program’s effectiveness may be enhanced with the benefit of adherence to a set of simple tenets.

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Guy Carpenter Mid-Year Report Highlights Catalysts for Growth in (Re)Insurance Industry: Guy Carpenter released its mid-year market report, highlighting a time of dynamic capital growth in the reinsurance industry. As investors supply capacity through a convergence of alternative and traditional vehicles, the report details the ways in which this new supply of capital and excess capacity has changed the nature of the sector’s capital structure.

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Floods in Colorado, United States: A period of excessive rainfall between September 10 and 15 has triggered excessive flooding in Northeastern Colorado. Rainfall has exceeded five inches over a very large area, and some local rainfall amounts have exceeded 15 inches. Damage has occurred as a result of rushing water and inundation, affecting homes, businesses and infrastructure over a large area.

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Cyber, Climate Change and Space Highlighted as Critical Emerging Risks in Guy Carpenter Report: Guy Carpenter published a new report highlighting emerging risks facing the (re)insurance sector, including cyber risk, climate change and space risk. The report seeks to identify pressing emerging risks confronting the sector, as well as analyze their implications on businesses and (re)insurers.

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And, you may have missed…..

Guy Carpenter Addresses Market Impact of New Capacity: In its sixth annual press briefing held at the Reinsurance Rendez-Vous 2013 in Monte Carlo, Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies (NYSE: MMC), considered the impact of new capacity on current market conditions and explored where the opportunities exist for profitable growth in such an environment.

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