February 8th, 2019

Week’s Top Stories: February 2 - 8, 2019

Posted at 10:00 AM ET

Automobile Liability Segment Outlook: In 2017, writers of automobile (auto) liability insurance continued to cope with deteriorating combined ratios, which remained above 100 percent for the seventh consecutive year. While carriers have implemented effective strategies that improved their operations and as a result are achieving improved expense ratios, evolving market and environment factors continue to challenge auto insurers. Consequently, improved expense ratios and premium increases did not rise as rapidly as claims and losses. The outlook for the sector remains negative.

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Engaging the Workforce in Digital Transformation: A New Model to Enable Your Digital Strategy: For an organization to succeed in adopting technological solutions they must find ways to engage their workforce in the digital transformation or they will fall behind their competitors.

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Reinsurance Rate Movement Limited at January 1 Despite Uncertainty over Pricing Adequacy and Available Capital: The overall impact of catastrophe losses on property rates was muted at the January 1, 2019 reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy and the amount of capital available, says Guy Carpenter.

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Environmental Disasters Leading to Increased Disruption to Supply-Chains: As environmental risks crystallize with increasing frequency and severity, the impact on global value chains is likely to intensify, weakening overall resilience, according to Global Risks Report 2019, which was produced by the World Economic Forum with the support of Guy Carpenter’s parent company, Marsh & McLennan Companies.

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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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And, you may have missed …

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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