May 18th, 2018

Week’s Top Stories: May 12 - 18, 2018

Posted at 10:00 AM ET

Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

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The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented: As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

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Building for Resilience: How to Avoid a Catastrophe Model Failure: Here we bring together our recent multi-part series on model resilience by Guy Carpenter’s Global Chief Catastrophe Modeler, Imelda Powers.

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Technology Opens the Door to Growth: Why must risk executives know about AI, Internet of Things, blockchain, and other technologies? The answer is often sitting in plain sight, from wearable technology that informs workplace risk to IoT connections that provide rich sources of data to insurtech solutions for insurance and risk finance. The promise for risk professionals who use these technologies is to proactively contribute to their organizations’ growth and performance. This year’s Excellence in Risk Management survey from Guy Carpenter sister company, Marsh, and RIMS found risk professionals welcoming their role in innovation and embracing their companies’ digital approach.

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Exploring the Excess & Surplus Industry; E&S Market Update and Projections: The excess and surplus (E&S) lines segment of the insurance industry continues to be the essential market for risks for which  the standard insurance market typically does not offer coverage. From extremely hazardous conditions to highly unique business operations and unproven new products, these unconventional risks are often complex and challenging. The E&S market’s challenge is to develop products to cover these exposures utilizing its expertise and freedom of rate and form.

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And, you may have missed….

United States Reinsurance Capacity for Terrorism: In 2017, according to Guy Carpenter, the combined property and workers compensation private conventional-only terrorism reinsurance capacity was estimated to be USD 2.5 billion per cedent program. Reinsurance capacity for coverage that includes Nuclear, Biological, Chemical and Radiological, especially in Tier 1 cities and central business districts, has become increasingly challenging to secure over the past two years due to the accumulated aggregate constraints of some markets and is estimated to range between USD 500 million and USD 1 billion per program. Marsh’s 2018 Terrorism Risk Insurance Report, produced with support from Guy Carpenter, explores the state of the terrorism insurance marketplace, presenting data on purchasing and pricing trends.

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