May 1st, 2019

GC Capital Ideas Top Stories: April, 2019

Posted at 1:00 AM ET

1. Are You at Risk? Managing Affirmative and Silent Cyber Risk Accumulation: The script of the global cyber insurance market is still mainly being written in the United States. Approximately 85 percent of global cyber insurance premiums of between USD 2.5 and 3.5 billion are generated in the United States. The take-up rate for this line of business in Asia is still relatively low, but the Japan market has been experiencing steady growth in the last 24 months.

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2. Insurance Risk Management 2025: Navigating the Digital Future: How could the insurance industry look in 2025, and what are the implications for the Risk function? A video from Guy Carpenter affiliate Oliver Wyman offers a futuristic glimpse of a rapidly evolving industry.

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3. Facultative or Treaty and Why the Need for Hybrid Solutions: Insurers face challenges in managing underwriting, capital protection, risk and risk profiling as they navigate underwriting guidelines based on their gross and net risk underwriting appetite. Against these challenges, companies utilize various forms of reinsurance, traditionally facultative or treaty, to buy risk protection, shore up capital and satisfy rating agencies.

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4. NotPetya Was Not Cyber “War”: NotPetya wreaked havoc for some large companies, costing them billions of dollars in lost revenue, damaging computer systems, and requiring significant expense to restore global operations. In its wake, entire industries reassessed their practices for patching, business continuity, supply chain interruption, and more.

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5. A Matter of Time: Why the Clock is Ticking on Stop-Loss Reinsurance: As cutting-edge science leads to new, high-cost drugs and therapies, insurers are seeing uncapped claims costs grow higher. Stop-loss reimbursements generally are on the rise, with an increasing number of employers being reimbursed for a stop-loss claim every year.

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6. 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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7. When the Going Gets Tough, the Tough Get Going: Overcoming the Cyber Risk Appetite Challenge: The scale of recent attacks and resulting media attention, supervisory pressures to upgrade cyber risk management and the pace of technology innovation to keep up with are increasing rapidly. These factors are compelling financial institutions to have a clear understanding of the cyber risks they face, and to determine the level of cyber risk the institution is willing to accept.

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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. Investing in a Time of Climate Change - The Sequel: A new report documents Mercer’s latest climate scenario model for assessing the effects of both climate-related physical damages (physical risks) and the transition to a low-carbon economy (transition risks) on investment return expectations. The Sequel models three climate change scenarios, a 2°C, 3°C and 4°C average warming increase on preindustrial levels, over three timeframes - 2030, 2050 and 2100.

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10. Asia’s Health Care Industry Reels from Cyberattacks: Health care is one of the sectors most vulnerable to cyberattacks, with more than one in four (27 percent) health care organizations reporting that they have been a victim of a cyberattack in the past 12 months. This is more than financial institutions (20 percent) and nearly twice the incidence in the communications, media and technology sector (14 percent). Despite this, respondents from the health care industry underestimate the likelihood of a cyberattack.

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