Author Archive



August 20th, 2018

Does Asset Recycling Actually Work?

Posted at 1:00 AM ET

blair-3Blair Chalmers, Director, Marsh and McLennan Companies’ Asia Pacific Risk Center

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Global infrastructure investment needs between now and 2040 are likely to top USD 94 trillion. While governments must take the lead to meet this massive infrastructure need, they cannot fund this level of infrastructure investment alone.

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August 17th, 2018

Week’s Top Stories: August 11 - 17, 2018

Posted at 10:00 AM ET

Global Insurance Prices Rise for Third Consecutive Quarter: Global commercial insurance prices rose, on average, in the second quarter of 2018, marking a third consecutive quarter of increases, according to the most recent Marsh Global Insurance Market Index. The increase in the index was driven largely by pricing for property and financial and professional insurance lines.

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Regulatory Landscape Part V: NAIC Model Law: The recently enacted European Union (EU) General Data Protection Regulation (GDPR), the National Association of Insurance Commissioners (NAIC) Model Law and the New York State Department of Financial Services (NYDFS) Cybersecurity Act all address data privacy (the personal information of individuals) and data protection (using such personal information for business objectives), but from different perspectives. The NYDFS and NAIC regulations are focused on the technical requirements of financial service companies to assess cyber risk in their systems, implement additional security and report breaches promptly.

Read the article >>


Regulatory Landscape Part VI: California Consumer Privacy Law: The European Union’s (EU) General Data Protection Regulation (GDPR), which became enforceable in the spring, may be a model or a prelude to similar regulations across the Atlantic.
In late June, America’s largest state adopted California Consumer Privacy Act of 2018. The California bill goes into effect on January 1, 2020, allowing lawmakers to propose changes before it becomes enforceable. Compliance with the law will most likely increase the costs of doing business.

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Regulatory Landscape Part VII: Conclusion: GC Capital Ideas has analyzed in the last few posts the intricacies and corporate responsibilities and challenges in a world of constant technological innovation. This order requires striking a balance between new initiatives such as the use of big data and advanced analytics, and regulatory requirements and privacy needs. These are the aims of Global Data Protection Regulation’s (GDPR) and the recently adopted California Consumer Privacy Act of 2018, which goes into effect in 2020.

Read the article >>


Guy Carpenter to Host Scientific and Engineering Expo to Launch New InsurTech Advisory Offering Developed with Numerati® Partners LLC: Guy Carpenter announced the August 9, 2018 launch event for its InsurTech Alliance – a cost effective, state of the art and insurer-focused suite of capabilities to help carriers evaluate new innovations in the areas of data, analytics and digital technology-based products and solutions.

Read the article >>


And, you may have missed..

Carr Fire – Redding, California: In Northern California, the Carr Fire has burned at least 110,154 acres since July 23 and claimed at least six lives according to media reports and Cal Fire. Damage survey efforts are still ongoing, however initial indications are that at least 1,236 structures have been destroyed with another 225 damaged.

Read the article >>


Click here to register to receive email updates >>

August 16th, 2018

Being Prepared for Cyber Terrorism

Posted at 1:00 AM ET

terrorism-rep-connections-banner-2Cyberattacks backed by hostile governments are increasingly a reality; companies should adopt strategies to strengthen cyber resilience.

Marsh’s 2018 Terrorism Risk Insurance Report, produced with support from Guy Carpenter, suggests that companies should implement strategies for scenario-based testing, quantifying the potential financial impact of an attack and reviewing options for transferring the financial risk from cyberattacks via insurance. Continue reading…

August 15th, 2018

Global Insurance Prices Rise for Third Consecutive Quarter

Posted at 1:00 AM ET

dean_kisura_hsDean M. Klisura President, Global Placement and Specialties, Marsh

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Global commercial insurance prices rose, on average, in the second quarter of 2018, marking a third consecutive quarter of increases, according to the most recent Marsh Global Insurance Market Index. The increase in the index was driven largely by pricing for property and financial and professional insurance lines. Continue reading…

August 14th, 2018

Regulatory Landscape Part VII: Conclusion

Posted at 1:00 AM ET

GC Capital Ideas has analyzed in the last few posts the intricacies and corporate responsibilities and challenges in a world of constant technological innovation. This order requires striking a balance between new initiatives such as the use of big data and advanced analytics, and regulatory requirements and privacy needs. These are the aims of Global Data Protection Regulation’s (GDPR) and the recently adopted California Consumer Privacy Act of 2018, which goes into effect in 2020. Continue reading…

August 13th, 2018

Regulatory Landscape Part VI: California Consumer Privacy Law

Posted at 1:00 AM ET

The European Union’s (EU) General Data Protection Regulation (GDPR), which became enforceable in the spring, may be a model or a prelude to similar regulations across the Atlantic.

In late June, America’s largest state adopted California Consumer Privacy Act of 2018. The California bill goes into effect on January 1, 2020, allowing lawmakers to propose changes before it becomes enforceable. Compliance with the law will most likely increase the costs of doing business. Continue reading…

August 10th, 2018

Week’s Top Stories: August 4 - 10, 2018

Posted at 10:00 AM ET

Carr Fire – Redding, California: In Northern California, the Carr Fire has burned at least 110,154 acres since July 23 and claimed at least six lives according to media reports and Cal Fire. Damage survey efforts are still ongoing, however initial indications are that at least 1,236 structures have been destroyed with another 225 damaged.

Read the article >>


Regulatory Landscape Part II: Extra-Territorial Application of GDPR: The European Union’s Global Data Protection Regulation (GDPR) applies to company processing of personal data of European Union (EU) citizens, regardless of the company’s location. Mere accessibility of a controller’s, processor’s or intermediary’s website in the EU, containing an email address or other contact details or the use of a language generally used in a third country where the controller is established, does not necessarily bring the data within GDPR jurisdiction.

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Guy Carpenter to Host Scientific and Engineering Expo to Launch New InsurTech Advisory Offering Developed with Numerati® Partners LLC: Guy Carpenter announced the August 9, 2018 launch event for its InsurTech Alliance – a cost effective, state of the art and insurer-focused suite of capabilities to help carriers evaluate new innovations in the areas of data, analytics and digital technology-based products and solutions.

Read the article >>


Regulatory Landscape Part IV: NYDFS Cybersecurity Act - Risk of Third Party Service Providers: The recently enacted European Union (EU) General Data Protection Regulation (GDPR), the National Association of Insurance Commissioners (NAIC) Model Law and the New York State Department of Financial Services (NYDFS) Cybersecurity Act all address data privacy (the personal information of individuals) and data protection (using such personal information for business objectives), but from different perspectives. The NYDFS and NAIC regulations are focused on the technical requirements of financial services companies to assess cyber risk in their systems, implement additional security and report breaches promptly. The NYDFS regulation became effective on March 1, 2017.

Read the article >>


Regulatory Landscape Part V: NAIC Model Law: The recently enacted European Union (EU) General Data Protection Regulation (GDPR), the National Association of Insurance Commissioners (NAIC) Model Law and the New York State Department of Financial Services (NYDFS) Cybersecurity Act all address data privacy (the personal information of individuals) and data protection (using such personal information for business objectives), but from different perspectives. The NYDFS and NAIC regulations are focused on the technical requirements of financial service companies to assess cyber risk in their systems, implement additional security and report breaches promptly.

Read the article >>


And, you may have missed…

Chart: The Cyber Insurance Matrix Explained: Chart examines the policy coverage matrix between cyber and property lines of insurance coverage.

View the chart >>


Click here to register to receive email updates >>

August 9th, 2018

Regulatory Landscape Part V: NAIC Model Law

Posted at 1:00 AM ET

The recently enacted European Union (EU) General Data Protection Regulation (GDPR), the National Association of Insurance Commissioners (NAIC) Model Law and the New York State Department of Financial Services (NYDFS) Cybersecurity Act all address data privacy (the personal information of individuals) and data protection (using such personal information for business objectives), but from different perspectives. The NYDFS and NAIC regulations are focused on the technical requirements of financial service companies to assess cyber risk in their systems, implement additional security and report breaches promptly.

Continue reading…

August 8th, 2018

Regulatory Landscape Part IV: NYDFS Cybersecurity Act - Risk of Third Party Service Providers

Posted at 1:00 AM ET

The recently enacted European Union (EU) General Data Protection Regulation (GDPR), the National Association of Insurance Commissioners (NAIC) Model Law and the New York State Department of Financial Services (NYDFS) Cybersecurity Act all address data privacy (the personal information of individuals) and data protection (using such personal information for business objectives), but from different perspectives. The NYDFS and NAIC regulations are focused on the technical requirements of financial services companies to assess cyber risk in their systems, implement additional security and report breaches promptly. The NYDFS regulation became effective on March 1, 2017.

Continue reading…