September 22nd, 2017

Week’s Top Stories: September 16 — 22, 2017

Posted at 6:30 AM ET

Hurricane Irma: Hurricane Irma was a large and destructive storm that rendered impacts to most of the Southeast United States including the Florida Keys as well as areas of the Caribbean. Impacts for areas of the Northern Leeward Islands and the Virgin Islands, as well as northern Cuba have been especially severe. For the United States, the most severe impacts have been in the Florida Keys due to both wind and storm surge, with flood impacts as far away as coastal Georgia and northeast Florida. Wind impacts extend from Tennessee to the Carolinas to Florida. At least 67 fatalities have been reported.

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Public Sector Risk Financing Perspectives in the United States: The Market for Mortgage Credit Risk (Re)insurance: The global financial crisis of 2008 exposed the U.S. mortgage industry, taxpayers, and the global capital markets to the loss potential of residential mortgage credit risk.

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7.1 Mw Earthquake Near Raboso, Mexico: A magnitude (Mw) 7.1 earthquake struck near Raboso, Mexico yesterday, according to the U.S. Geological Survey (USGS). The quake occurred at 1:14 p.m. local time (18:14 UTC), with Mexico City approximately 122 kilometers (75.9 miles) southeast of the epicenter.

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New Vehicle Matches the Right Capital to Risk: A new Marsh & McLennan vehicle provides unparalleled support in accessing long-term capital markets-based protection; a broader and more diverse range of capital sources brings better matching, more efficient solutions customized to the unique risk profile of clients; and the vehicle provides a standardized documentation process and single point of access, in an efficient and cost-effective manner.

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Industry Must Develop Common Cyber Risk Currency: Data integrity and availability is as critical as data confidentiality; limited ability to quantify dependency is a major cyber inhibitor; and the challenge is to build a clearly differentiated cyber portfolio.

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And, You May Have Missed…

Reinsurance Solutions Continue to Achieve Stability and Growth for Cedents: There is a shift in buying strategies towards managing volatility; the marketplace is ‘vibrant’ as buyers capitalize on a full array of products; and the move to de-commoditize solutions is driving up product complexity.

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*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities LLC, a US registered broker-dealer and member FINRA/NFA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd. (MMCSEL), which is authorized and regulated by the Financial Conduct Authority, main office 25 The North Colonnade, Canary Wharf, London E14 5HS. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities LLC, MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.

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