February 1st, 2019

Week’s Top Stories: January 26 - February 1, 2019

Posted at 10:00 AM ET

The Evolving Directors and Officers Market: In the third quarter of 2018, primary and total program pricing for directors and officers (D&O) liability insurance increased for the third consecutive quarter, indicates the report, The US Financial and Professional Lines Market in 2019: Our Top 10 List, produced by Guy Carpenter’s affiliate, Marsh.

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Blockchain Today: A Young Technology That Could Change Everything: Today, blockchain technology is about where the Internet was in the early 1990s. It’s an exciting and important technology but one that is still in its fledgling stage. The truth is, similar to how people were trying to figure out the Internet in the early 1990s, no one really knows exactly how it will revolutionize economies and cultures. But we do know—much like the Internet in the early 1990s—that blockchain is going to be a game changer.

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Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2019.

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Excess and Surplus (E&S) Segment Outlook: The E&S lines segment of the insurance industry is an essential market for risks for which typically the standard insurance market does not offer coverage. The E&S market as a whole remained somewhat consistent and disciplined with its pricing and risk selection, with the first half of 2017 being very similar to 2016. Both primary and excess casualty rates were flat to up 5 to 10 percent depending on the line of business (LOB) and class. Specific areas, such as New York Construction and Transportation experienced double digit rate increases. Professional lines rates were overall flat.

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Sydney Hailstorms, December 20, 2018: A severe convective storm affected large parts of New South Wales, including Sydney, the Central Coast and Wollongong from 4:00 to 7:00 pm on December 20, 2018. The storm generated large hail, damaging winds and flash flooding in many areas of the state. According to the Australian Bureau of Meteorology (BOM), there were ground reports of hail of 8 cm diameter in Berowra Heights in Sydney’s north and similar size hail in Casula and Liverpool in the city’s southwest.

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And, you may have missed …

GC Videocast - Global Risks Report 2019: John Drzik, President of Global Risk and Digital at Guy Carpenter’s sister company, Marsh, explains the key findings and takeaways from The Global Risks Report 2019. The 14th edition of The Global Risks Report is prepared by the World Economic Forum with the support of Guy Carpenter’s parent company, Marsh & McLennan Companies.

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