Archive for the ‘Property’ Category



December 13th, 2018

Europe Experienced Increased Cyberattacks in the First Half of 2018

Posted at 1:00 AM ET

banner-image_editedhmj-500x500Estimates suggest that the number of cyberattacks across Europe increased by around a third in the first quarter of 2018, compared to the same period last year, according to the recent World Economic Forum (WEF) report Regional Risks for Doing Business 2018.

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December 12th, 2018

14 Shades of Risks: Navigating the Risk Landscape in Asia-Pacific

Posted at 1:00 AM ET

14shades_thumbnailThe Asia-Pacific region (APAC) has become the world’s primary driver of global economic growth.

While often referred to as one economic bloc, the Asia-Pacific region is home to countries and territories that are vastly different from each other in terms of demographics, economic development stages, political institutions and cultures. This regional heterogeneity translates to a diversified set of risk concerns in different countries and territories.

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December 11th, 2018

Here’s How to Bring Agility into the Boardroom

Posted at 1:00 AM ET

margaritaeconomides-460x460_croppeddavid-gillespie-460x460_croppedMargarita Economides, Engagement Manager; David Gillespie, Partner, Oliver Wyman

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Today’s corporate world is being shaped by a near constant onslaught of unpredictable events. In such turbulent times the traditional corporate governance model risks becoming outdated and ineffective.

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December 10th, 2018

Cost of Capital and its Use in Valuing Reinsurance

Posted at 1:00 AM ET

Increasingly, reinsurance is seen as an important element of capital management. Reinsurance decisions are moving away from the reinsurance buyer and towards the finance teams. These teams need to find a way of comparing reinsurance in a straightforward way. Defining the cost of capital for reinsurance means that it can be compared with other capital sources.

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December 6th, 2018

Cyberattacks Emerge as Leading Risk in East Asia and the Pacific

Posted at 1:00 AM ET

herde_thomas_photoCyberattacks are the leading risk to doing business across East Asia and the Pacific, according to the recent World Economic Forum (WEF) report Regional Risks for Doing Business 2018.

The WEF study surveyed about 12,500 executives across 140 countries on the five biggest risks to doing business in their respective countries over the next 10 years. In Asia Pacific, cyberattacks topped the list in Indonesia, Japan and Singapore. The prominence of cyberattacks as a concern among the region’s businesses reflects the rapid pace of digitization and the increasing sophistication of the region’s economies, the study says.

Thomas Herde, Guy Carpenter’s Head of Casualty Specialty Practice in Asia Pacific, says: “We may be seeing a shift in Asia Pacific as businesses in the regions now recognize the growing risk of cyberattacks and the extent of the damages they may cause.”

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December 5th, 2018

Ensuring innovation is more than a cliché

Posted at 1:00 AM ET

bentley_rob_150x150The numerous challenges the insurance industry faces mean that innovation is critical to tackling them. Rob Bentley, Chief Executive Officer of Guy Carpenter’s Global Strategic Advisory, describes how Guy Carpenter is helping its clients manage these challenges—especially the conundrum of InsurTech, in an interview that appeared in Intelligent Insurer magazine.

Rate pressure, lower investment income, emerging risks, evolving technologies, new capital sources and regulatory changes are creating an environment in which earnings and growth are impacted. How do companies find opportunity in such conditions?

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December 4th, 2018

Asia Pacific Reinsurance Market: Abundant Capacity and Flat Pricing

Posted at 1:00 AM ET

front-cover150x140For buyers of catastrophe reinsurance in the Asia Pacific region, pricing has remained largely flat during 2018. The region has experienced losses during the year to date, and at the time of writing, it is expected that a proportion of these will impact reinsurers. At the same time, market capacity remains abundant and underlying reinsurance market conditions are favorable for buyers, as reported by Guy Carpenter in its 2018 Asia Pacific Catastrophe Reinsurance Executive Summary. The effect of the 2018 losses on market sentiment going forward is not fully understood.

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November 30th, 2018

Mw 7.0 Earthquake – Near Anchorage, Alaska

Posted at 4:59 PM ET

alaska-eq_small_newA magnitude (Mw) 7.0 earthquake was reported near Anchorage, Alaska around 17:29 UTC on November 30 (8:29 local time), according to the U.S. Geological Survey (USGS). The epicenter was located at a depth of 44.1 km and about 12.9 km (8.0 miles) north of Anchorage, Alaska. A tsunami warning was issued but later lifted by the U.S. National Weather Service. Initial media reports indicate that the event rendered considerable damage to infrastructure including roads, power and water, along with significant transportation disruption. Damage has been reported to buildings including interior damage and some cracked foundations with some building collapses. Initial media reports indicate no fatalities or injuries, although survey efforts are still ongoing.

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November 29th, 2018

Wildfire Activity - California - Update

Posted at 7:25 PM ET

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Recent wildfire activity has rendered especially severe impacts to areas of California, including areas of Butte, Los Angeles and Ventura Counties. Rates of extreme fire spread were enabled by especially dry, windy conditions on November 8 and the days following. Aggressive firefighting efforts allowed containment efforts to progress despite adverse conditions over the following week. Periods of heavy rainfall have recently allowed firefighting crews to bring the last of the fires to 100 percent containment over the last week. The Camp, Woolsey and Hill Fires have burned an estimated 20,297 structures since November 8, including at least 13,972 residential structures from the Camp Fire alone, according to Cal Fire statistics. These fires have also claimed at least 91 lives. Recent heavy rainfall has amplified the threat for flash-flooding and debris flows in and around the burn scars. Media reports indicate estimated insured losses for the Camp and Woolsey Fires of around USD 9-13 billion as reported by RMS. It will take some time to determine the full scope and severity of this event as search, recovery and survey efforts continue. Our first thoughts and concerns remain with those lost and directly affected by this event.

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