Guy Carpenter Asia-Pacific Climate Impact Centre Publishes New Annual Report: The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of the City University of Hong Kong and Guy Carpenter, today released its fifth annual report presenting the highlights of the GCACIC’s research activities from the past year. The report details the findings of 16 projects conducted by the GCACIC, which focus on climate problems in the Asia-Pacific region as well as on a global scale.
Review of Space Risks and Insurance Solutions: A review of recent GC Capital Idea stories on space risk and related insurance solutions.
Review of the Asia Pacific Market: Here we review recent GC Capital Ideas stories related to the Asia Pacific region.
Guy Carpenter’s Rate on Line Index: This review of recent GC Capital Ideas Chart Room entries highlights Guy Carpenter’s Rate on Line Index.
Wildfires in California, United States: In an early start to the season, several wildfires grew this week in Southern California affecting Carlsbad, San Marcos and Camp Pendleton. The fires were enabled by hot, dry and windy conditions placing fire containment efforts at a disadvantage. At least 125,000 evacuation notices were issued. One fatality has been reported, and at least fifteen buildings have been destroyed. Media reports indicate a minimum of USD20 Million in damages.
And, You May Have Missed…
Asia/Australasia Catastrophe Review, 2013: Asia and Australasia received their share of both natural and man-made catastrophes in 2013. One of the most costly man-made events occurred in China after a major fire hit a large microchip factory in September. The blaze caused significant damage to the SK Hynix-owned facility in the city of Wuxi, with reports saying the cost to the (re)insurance sector is expected to range between USD900 million and USD1 billion. The incident represents the most expensive single-risk loss on record to occur in China.