Archive for the ‘Casualty’ Category



July 16th, 2018

In Risk Management ‘Tried’ Technology Has Staying Power

Posted at 1:00 AM ET

Treasury and financial managers remain hesitant to try newer and more efficient risk management tools. A survey of finance professionals found that 97 percent use spreadsheets to manage risk while only 28 percent believe they are efficient risk management tools; this according to the 2018 Association for Financial Professionals (AFP) Risk Survey, which was produced in collaboration with Marsh & McLennan Companies Global Risk Center. Continue reading…

July 12th, 2018

How climate-resilient is your organization?

Posted at 1:00 AM ET

reslience21Stakeholders are looking for greater transparency on the risks and opportunities presented by climate change and the shift to a low-carbon economy. This focus is increasing with the accelerating support for the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) released in June 2017.

However, organizations have questions about how to disclose on climate risks and what alignment to the TCFD recommendations means in practice; many are simply unsure how and where to get started.

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July 11th, 2018

Developments in the Data Privacy Regulatory Landscape

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.

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July 10th, 2018

Trends in Terror Cover

Posted at 1:00 AM ET

Hospitality and gaming companies, on average, allocated the largest share of their property insurance programs to terrorism coverage in 2017.

Data in Marsh’s 2018 Terrorism Risk Insurance Report, produced with support from Guy Carpenter, showed that hospitality and gaming companies allocated 10 percent of property premium to terrorism coverage. Continue reading…

July 4th, 2018

Chart: The Cyber Insurance Matrix Explained

Posted at 1:00 AM ET

Chart examines the policy coverage matrix between cyber and property lines of insurance coverage. Continue reading…

July 2nd, 2018

GC Capital Ideas Top Stories: June 2018

Posted at 1:00 AM ET

1. Guide to Cyber Coverage Options: Cyber Risk Management: Response and Recovery, the new report from Marsh & McLennan’s Global Risk Center and WomenCorporateDirectors, includes a Guide to Cyber Coverage Options.

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2. Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

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3. Standalone Terrorism Insurance Remains Competitive: Unlike coverage under the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is normally made available within annual “all-risk” property policies, a standalone property terrorism insurance policy does not require the government to certify an act of terrorism in order for a claim to be paid.

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4. Volcanic Eruptions: A Complex and Largely Overlooked Risk: Volcanic eruptions are complex phenomena that may affect populations and economies in ways we may not be familiar with.

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5. GC Securities Acts as Sole Structurer and Bookrunner on the First Ever Cat Bond Issued Under the New UK Risk Transformation Legislation: GC Securities announced the placement of USD 300,000,000 Series 2018 Principal At-Risk Variable Rate Notes through a newly formed insurance special purpose vehicle domiciled in the United Kingdom, Atlas Capital UK 2018 PLC, to benefit SCOR.

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6. Threat Trends on Major Cyber Attacks in 2017: The Marsh & McLennan Companies Cyber Risk Handbook 2018 is published.

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7. Better Quantifying Cyber Exposure Will Help Determine Risk Finance Needs: As evidenced by the millions of dollars potentially at stake in a cyber event, financing to help an organization recover from a cyber-attack is more important than ever, with serving insurance a key part of the equation.

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8. A Heightened Focus on Cyber Response and Recovery: Over a third of directors of U.S. public companies now discuss cybersecurity at every board meeting. Cyber risks are being driven onto the agenda by high-profile data breaches, distributed denial of services (DDoS) attacks and rising ransomware and cyber extortion attacks.

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9. Guy Carpenter Extends Capital Markets Expertise with Hire of President and Global Leader, GC Securities, Capital Markets: Guy Carpenter named Shiv Kumar as President and Global Leader of GC Securities, Capital Markets. Mr. Kumar was previously Global Head of Insurance Structured Finance at Goldman, Sachs & Co. His 23 years of experience in the (re)insurance sector and capital markets will enhance GC Securities’ ability to identify and execute convergence capital solutions that help clients manage risk.

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10. Directors Risk Survey Report 2018: Guy Carpenter sister company Marsh has introduced its annual Director Risk Survey Report, done in conjunction with the Institute of Directors. The results reflect changes in the evolving local and global risk landscapes - with cyber, IT, talent attraction and retention and the loss of a key person just some of the risks highlighted.

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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.

June 27th, 2018

Why All the Talk about Cyber?

Posted at 1:00 AM ET

GC Capital Ideas has recently posted several articles about cyber security and the need to implement robust prevention and response mechanisms. Posts on cyber typically are among our most viewed stories.

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June 21st, 2018

Captives Offer Access to Capital

Posted at 1:00 AM ET

Captive owners are seeking options for coverage of terrorism and other high-severity risks. Among other benefits, captive owners gain flexible options to finance emerging and high-severity risks, such as cyber liability, terrorism, and cyber terrorism.

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June 20th, 2018

Better Quantifying Cyber Exposure Will Help Determine Risk Finance Needs

Posted at 1:00 AM ET

As evidenced by the millions of dollars potentially at stake in a cyber event, financing to help an organization recover from a cyber-attack is more important than ever, with serving insurance a key part of the equation.

Continue reading…