Archive for the ‘Casualty’ Category



November 21st, 2017

Survey: 80 Percent Say Treasury Plays a More Strategic Role Today Than Three Years Ago; Part I

Posted at 1:00 AM ET

Treasurers increasingly play a more strategic role as their traditional roles become more critical to their organizations and they assume a wider range of responsibilities, including investor relations, insurance risk management, integrating supply chain management and real estate. This greater strategic role with more responsibilities illustrates the increasingly vital role that treasurers play in supporting senior executives, according to new research from the Association for Financial Professionals (AFP).

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November 20th, 2017

Understanding Systemic Cyber Risk; Insights Through Pandemic Behavior

Posted at 1:00 AM ET

platt-jeremybhamory-crop-smshafer-chris-sm1Jeremy S. Platt, U.S. Cyber Specialty Practice Leader, Guy Carpenter; Bruce Hamory M.D., Chief Medical Officer for Health and Life Sciences at Oliver Wyman Consulting and Christopher Shafer, Assistant Vice President, Guy Carpenter

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  • Jeremy S. Platt is Managing Director and U.S. Cyber Specialty Practice Leader at Guy Carpenter; Bruce Hamory, M.D. is a Partner and Chief Medical Officer for Health and Life Sciences at Oliver Wyman Consulting. They represent operating companies of Marsh & McLennan Companies.

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November 16th, 2017

Threat Trends on Major Cyber Attacks in 2017

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The Marsh & McLennan Companies Cyber Risk Handbook 2018 is published.

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November 15th, 2017

From Risk to Resilience: Marsh & McLennan Companies Cyber Handbook 2018: Perspectives on the Next Wave of Cyber

Posted at 1:00 AM ET

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Cyber risk continues to grow as technology innovation increases and societal dependence on information technology expands. A new and important turning point has been reached in the struggle to manage this complex risk. In the war between cyber attackers and cyber defenders,we have reached what Winston Churchill might call “the end of the beginning.”

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November 14th, 2017

Just Say “Know” to Insurtech; Part II

Posted at 1:22 AM ET

claude-yoder-cropClaude Yoder, Global Chief Innovation and Product Development Officer

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Continuing the discussion of insurtech’s surging impact on the insurance industry.  Part II focuses on what carriers should be doing and compelling trends for growth.

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November 13th, 2017

Just Say “Know” to Insurtech; Part I

Posted at 1:00 AM ET

claude-yoder-cropClaude Yoder, Global Chief Innovation and Product Development Officer

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Insurtech’s impact on the insurance industry is surging, reminding us of the influence that technological change and growth bring to the modern consumer and business landscapes and individual industries  -  the development of fintech within financial services being an example.

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November 9th, 2017

For MPL, Market Softening Continues in 2016—Signs of Pressure Emerge

Posted at 4:00 AM ET

Steve Underdal, Managing Director; Greg Bliss, Managing Director; Matt Walter, Senior Vice President and Blake Berman, Senior Vice President

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Since 2010, the medical professional liability (MPL) industry has been navigating a soft market, with declining profitability, diminished investment gains and rising accident year operating ratios. Yet, reserve redundancies have kept calendar year combined ratios below 100 percent, allowing carriers to pay dividends to policyholders while maintaining favorable returns on equity. Recent trends in the MPL insurance industry, including more aggressive competition among carriers and a leveling off of frequency trends, are driving accident year combined ratios higher. Without the continued tailwind of favorable reserve development, current market rates could prove unsustainable, driving market hardening in the coming years.

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November 8th, 2017

Insurers Adapting in a Time of Disruption

Posted at 4:00 AM ET

Here we review recent GC Capital Ideas posts on strategies insurers may utilize to continue to achieve growth in a disruptive environment.

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November 7th, 2017

Insurers Challenged by Forces of Technology Disruption

Posted at 4:00 AM ET

Here we review recent GC Capital Ideas posts on the need for the insurance industry to come to terms with the forces of technological disruption challenging their business models.

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November 6th, 2017

GC Capital Ideas Top Stories: October, 2017

Posted at 4:00 AM ET

1. Reinsurance Market Poised to Remain Vibrant Following Recent Catastrophe Events: The recent series of catastrophic events - earthquakes in Mexico, Hurricanes Harvey, Irma and Maria - is reminding cedents that reinsurance is one of the most effective ways to protect corporate capital bases; Harvey on its own is likely to be an earnings event that will probably not require an increase of industry capital; the addition of the cumulative effect of the earthquakes in Mexico and Hurricanes Irma and Maria, however, could create a capital event;  and the earthquakes and hurricanes provide an opportunity to define the viability and effectiveness of the 144A product. We expect that these instruments will demonstrate their effectiveness and serve their intended purpose.

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2. Flood Insurance: The 2018 Market Opportunity: The U.S. insurance industry is actively seeking new opportunities for growth in a challenging market by identifying untapped customer needs. The potential flood market is over five times the size of the most often mentioned new market, cyber insurance; greater access to flood data and loss results and more reliable exposure modeling are enhancing the flood (re)insurance marketplace; and several developments are helping carriers understand and monitor aggregation.

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3. Industry Must Act to Avoid a “Kodak Moment”: In his first speech as Lloyd’s new chairman, Bruce Carnegie-Brown said the insurance industry must do more to change and innovate or run the risk of being disrupted by external players.

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4. Guy Carpenter Reports US Insurance Market at a Crossroads but Opportunity Exists: Guy Carpenter released a study outlining a dynamic insurance industry facing a changing economy and pressure in once-stable lines, but with opportunity for those with management skill and understanding of risk.

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5. California Wildfires - October 8-17, 2017: Wildfire activity has rendered especially severe impacts to certain areas of California since October 8, including areas of Napa, Sonoma and Solano Counties. Wildfire activity has also rendered impacts to areas of Orange County east of the Los Angeles Metro area. Rates of extreme fire spread were enabled by especially dry conditions together with offshore gusty winds to burn a total of at least 217,566 acres since October 8. Media reports indicate at least 41 fatalities, making this the deadliest series of fires in California history. At least 5,700 structures have been destroyed and thousands more remain under threat. Containment efforts have made significant progress in the last week, thanks to efforts of at least 10,000 firefighters and reduced winds.

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6. Baden-Baden Reinsurance Symposium Addresses Industry-wide Impact of Disruption: Guy Carpenter & Company hosted the Reinsurance Symposium in Baden-Baden on October 22. The ninth year that Guy Carpenter has hosted the event, the theme of the Symposium was “Profiting from Disruption.”

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7. Chart: Combined Ratio for Guy Carpenter Reinsurance Composite, First Half, 2017: Chart presents combined ratio for the Guy Carpenter Global Reinsurance Composite, 2006 through first half, 2017.

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8. Just Say “Know” to Insurtech: As insurtech offerings proliferate, to gain the advantages promised, companies need to know the opportunities afforded; know their own strengths and capabilities for engagement; and know their clients’ needs and expectations; insurtech is the evolutionary next step for insurance through the combination of data, analytics and technology in new and innovative ways; and capturing information in real time through sensors or mobile devices is the newest process for the collection of data for analytics.

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9. Understanding Systemic Cyber Risk; Insights Through Pandemic Behavior: Today, through air travel, a carrier of MERS or Ebola can cross the ocean in less than a day, board a crowded subway train and potentially infect hundreds of people. Containment of a pandemic outbreak begins upon discovery, similar to the way in which forensics and network restoration efforts can begin once a cyber breach is identified. According to Platt, the longer the lag until discovery, the more difficult containment and treatment will be, whether it is a biological or cyber event.

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10. Guy Carpenter Appoints Claude Yoder to Lead Global Innovation and Product Development: Guy Carpenter & Company is pleased to announce the appointment of Claude Yoder as Managing Director and Global Chief Innovation and Product Development Officer.

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* Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities LLC, a US registered broker-dealer and member FINRA/NFA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd. (MMCSEL), which is authorized and regulated by the Financial Conduct Authority, main office 25 The North Colonnade, Canary Wharf, London E14 5HS. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities LLC, MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.