April 1st, 2019

GC Capital Ideas Top Stories: March 2019

Posted at 1:00 AM ET

1. Chart: Evolution Of The Sidecar Market: Chart presents the evolution of sidecar capacity compared with the Global Property Catastrophe ROL Index, 2005 - 2018.

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2. Building For Resilience: How To Avoid A Catastrophe Model Failure: Since commercial catastrophe (CAT) models were first introduced in the 1980s, they have evolved as new scientific discoveries and claims insights emerged. Despite the sophisticated nature of each new generation of CAT models, occasionally a model misses a significant loss driver for a particular peril.

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3. GC Capital Ideas Covers Modeling Developments: GC Capital Ideas presents a review of our recent stories covering modeling for various perils.

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4. Global Cyber Terrorism Incidents On The Rise: The nature of the terrorism threat facing society has changed considerably in the last 20 years. Previously, governments and (re)insurers structured their mitigation strategies and responses to deal with attacks that were large in scale.

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5. A Risk Overview Of Wildfire: Today, the frequency and severity of wildfires are garnering greater attention-not only from the media, but also from (re)insurers, catastrophe modelers, mitigation experts and other invested parties.

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6. Chart: Global Composite Return On Average Equity, 2005-YE 2018: Chart reports Return on Average Equity for the Guy Carpenter Global Composite compared against the five-year weighted average.

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7. Climate Change Has Claimed Its Biggest Corporate Victim; Now Banks Are On Alert: When PG&E filed for Chapter 11 protection in January, The Wall Street Journal dubbed it the “first climate change bankruptcy.” The California power utility was facing USD 30 billion in potential liabilities following a series of devastating wildfires linked to its equipment-wildfires made more likely by a prolonged period of hot, dry weather that had reduced the surrounding forests to tinder and which scientists have since attributed to climate change.

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8. 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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9. 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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10. Identifying And Responding To A Dysfunctional Culture: Loss of clients, mass employee walk-outs, shareholder lawsuits, stock price drops, hundreds of CEOs and executives turnovers, and countless daily instances of organizational inefficiencies - these are just some of the recent impacts of cultural dysfunction.

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