December 28th, 2018

Week’s Top Stories: December 22 - 28, 2018

Posted at 10:00 AM ET

Affirmative versus Silent Cyber: An Overview: While the current debate over “affirmative” versus “non-affirmative” coverage has been ongoing for a few years, WannaCry and Petya/NotPetya cyberattacks helped make the issue of ”silent cyber” more critical. These two 2017 cyberattacks effectively shifted the conversation from data breach, notification costs and third-party liability to first-party liability insuring agreements due to the extent and expanse of the systematic, large-scale damages they triggered.

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Report: New Zealand’s Agriculture Lacking Risk Mitigation Measures: New Zealand’s vulnerability to climate-related risks such as extreme weather events is rising due to rapid urbanization and an increase in the frequency and severity of these events, according to the recent report 14 Shades of Risk In Asia-Pacific: Evolving Risk Concerns in Asia-Pacific by Marsh & McLennan Companies’ Asia-Pacific Risk Center.

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GC Capital Ideas: CAT-i Stories: Fourth Quarter 2018: Here is a look back at the CAT-i articles from October 1 through December.

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The Dangers Lurking in the Union between Construction and Emerging Tech: Technology startups geared toward the construction industry are booming. Contractors are adopting wearable tech to prevent and mitigate worker injuries and using 3D printing technologies for building components. The industry has seen a proliferation of building information modeling to foster digital collaboration between architects, engineers and contractors.

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Cost of Capital and its Use in Valuing Reinsurance: Increasingly, reinsurance is seen as an important element of capital management. Reinsurance decisions are moving away from the reinsurance buyer and towards the finance teams. These teams need to find a way of comparing reinsurance in a straightforward way. Defining the cost of capital for reinsurance means that it can be compared with other capital sources.

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And, you may have missed …

Global Insurance Prices Rise for Fourth Consecutive Quarter: Trends in property and financial and professional lines of coverage drove average commercial insurance prices higher for the fourth consecutive quarter, according to the most recent Marsh Global Insurance Market Index. Global commercial insurance prices tracked in the index rose, on average, more than one percentage point in the third quarter of 2018.

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