November 17th, 2017

Week’s Top Stories: November 11 - 17, 2017

Posted at 12:18 PM ET

Just Say “Know” to Insurtech: Insurtech’s impact on the insurance industry is surging, reminding us of the influence that technological change and growth bring to the modern consumer and business landscapes and individual industries.

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From Risk to Resilience: Marsh & McLennan Companies Cyber Handbook 2018: Perspectives on the Next Wave of Cyber: The 2018 edition of the Marsh & McLennan Companies Cyber Risk Handbook provides insights on the shifting cyber threat environment, emerging global regulatory trends and best practices in the journey to cyber resiliency.

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Guy Carpenter Reports US Insurance Market at a Crossroads but Opportunity Exists: Guy Carpenter today released a study outlining a dynamic insurance industry facing a changing economy and pressure in once-stable lines, but with opportunity for those with management skill and understanding of risk.

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Insurers Challenged by Forces of Technology Disruption: Here we review recent GC Capital Ideas posts on the need for the insurance industry to come to terms with the forces of technological disruption challenging their business models.

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China Risk Oriented Solvency System (C-ROSS): The China Insurance Regulatory Commission (CIRC) is instituting sweeping changes through its three-tiered China Risk Oriented Solvency System (C-ROSS) framework that will dramatically impact how (re)insurers conduct business. It will strengthen capital requirements, risk management and transparency disclosures - bringing China in line with, and in some cases overtaking, global standards. The C-ROSS framework is similar to Solvency II: three tiers focusing on quantitative, qualitative and disclosure requirements.

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And, You May Have Missed….

Asia Pacific Catastrophe Report 2017: Executive Summary: Protection Gap and Convergence Capital: The proportion of losses uninsured in the Asia Pacific region remains high. For example, examination of this year’s major landfalling typhoons in China shows a wide discrepancy between economic and insured losses.

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