November 1st, 2013

Week’s Top Stories: October 26 - November 1, 2013

Posted at 8:00 AM ET

The Evolving Legacy (Run-Off) Market: The recent completion by legacy solution specialists of a number of acquisitions in the live insurance space could be a watershed moment for the standalone run-off market. The original business concept of a run-off manager was a pure focus on legacy business - to achieve finality in legacy claims and manage the outstanding book of legacy business in the same cost efficient way that an insurer would manage a renewal book of business.

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Uncertainty in Catastrophe Models: How Much of it is Reasonable?  It seems reasonable to expect a degree of uncertainty in catastrophe model results. It is not uncommon, however, for models to produce results that differ by several factors. In order to assess how much of this uncertainty is epistemic, due to our incomplete knowledge of the physical phenomena involved, this existing uncertainty needs to be quantified.

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Emerging Risks: The (re)insurance sector is today operating in a rapidly changing and uncertain risk landscape. Against this backdrop, it is important that (re)insurers attempt to identify and understand emerging risks to plan for the long term and challenge assumptions about the future risk landscape environment.

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Risk Transfer Demand: Are the insurance and reinsurance industries adequately serving their clients in the transfer of risk? The question is a timely one because much recent discussion has focused on the entry of new capital into the industries and its effect on capacity and pricing. Regulatory and economic conditions have also concentrated minds on capital optimization, with reinsurance playing an increased role in risk finance that may have deflected attention from the fundamental business of protecting against risk.

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Guy Carpenter Reveals Findings of Damage Survey in Sandy-Impacted Northeast: Guy Carpenter released a comprehensive assessment of the damage resulting from Superstorm Sandy, highlighting meteorological aspects of the storm and detailed observations of some of the most severely impacted areas across the Northeast.

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And, you may have missed…..

Guy Carpenter Insights on A.M. Best’s 2013 Updates: A.M. Best has recently issued several insurance ratings updates. Guy Carpenter has reviewed those updates and has key insights to help companies better understand their potential impact.

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