November 22nd, 2013

Week’s Top Stories: November 16 - 22, 2013

Posted at 8:00 AM ET

Climate Change: A Look into the Future:  Global climate models project a best estimate of a further two to four degree (Celsius) increase in the mean temperature of the Earth by the end of this century. Although this may seem insignificant on an intuitive level, the resulting impacts are of significant concern. Sea-level rise is the most significant threat for coastal areas as a result of melting glaciers. Apart from this threat, changing weather patterns will result in drought and inland flood threats for some areas. As a general principle of climate change, changes to the mean of meteorological extreme value distributions can be expected but an increase in tail thickness (or variability) is of greater concern. The day-to-day variability that we see today will likely expand.

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Update: Super Typhoon Haiyan: Haiyan is among the strongest tropical cyclones ever recorded, and meets or surpasses the strongest landfalling tropical cyclone in recorded history. Haiyan made landfall in the Philippines on November 8 near Guiuan, with estimated 1-minute wind speeds of 185-195 mph (300-315 km/hr).

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U.S. Severe Weather Outbreak, November 2013: A late-season severe convective outbreak has affected a large portion of the Midwest, Ohio Valley and Great Lakes including Southern Ontario. This widespread and violent outbreak has left absolute damage in communities such as Washington, Illinois. The outbreak occurred ahead of a strong cold front affecting the area.

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Indexation Clauses in Liability Reinsurance Treaties: A Comparison Across Europe: The Indexation Clause - otherwise referred to as the Stability Clause, Inflation Clause or Severe Inflation Clause (SIC) - is designed to maintain the real monetary value of the retention and (where applicable) the limit under a long-tail excess of loss reinsurance treaty over the duration of the claims payout pattern.

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Demand for Asia Pacific Catastrophe Reinsurance at a Record High in 2013: Total Asia Pacific catastrophe limit purchased in 2013 increased for the tenth year in a row, but once again failed to keep pace with strong gross domestic product growth in the region, according to a new report released today by Guy Carpenter.

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And, you may have missed…..

Causes of Supply Chain Disruption: The Business Continuity Institute’s 2012 Supply Chain Resilience Survey estimates that outsource service provider failure represents one of the most significant causes of supply chain disruption, only lagging behind adverse weather and technology (see Figure F-1). The particular danger represented by the supplier or service provider, especially if it involves an aspect of critical infrastructure, is that the failure is likely to cut across multiple industries and geographies. For example, the disruption caused by a component part of technology used by a power generator does not just shut the utility down - all commercial and residential operations grind to halt.

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