Archive for the ‘Property’ Category



June 22nd, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV

Posted at 1:00 AM ET

aidan-pope-headshot-sm25Aidan Pope, Managing Director

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Mexico’s risk management strategy has earned a strong reputation in the international community. The World Bank said it is “at the vanguard of initiatives aimed at the development of an integrated disaster risk management framework, including the effective use of risk financing and insurance mechanisms to manage the fiscal risk derived from disasters,” highlighting it as an example for other governments to follow (1).

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June 21st, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part III: A Lesson in Resilience from Mexico

Posted at 1:00 AM ET

aidan-pope-headshot-sm24Aidan Pope, Managing Director

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The Mexican federal government’s risk management strategy exemplifies a modern, resilient disaster preparedness plan, including pre- and post-event approaches and public-private partnerships. Following the 1985 Mexico City earthquake, the Mexican National Civil Protection System (SINAPROC) was created, establishing a multi-level system to integrate stakeholders from the three levels of government, the private and social sectors, academia and scientific organizations. Its purpose was to provide an institutional framework for the improved coordination of emergency response. Its capacities in the areas of risk assessment, early warning, preparedness and disaster risk financing were developed. As SINAPROC evolved, it added risk reduction practices to shift from a reactive to a preventative, holistic and integrated risk management plan.

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June 20th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part II

Posted at 1:00 AM ET

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Aidan Pope, Managing Director

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Many recent catastrophe events in the Latin America/Caribbean region provide examples of the protection gap: Only 5 percent of the USD 8 billion economic loss from Haiti’s 2010 earthquake was insured; and the insured portion of the USD 2 to 3 billion economic loss caused by the April 2016 earthquake in Manta, Ecuador, is expected to reach no more than 15 percent. The 2016 earthquake has deeply impacted the local economy and government finances as unemployment increased by approximately 50 percent and the government was compelled to increase sales taxes by two percent to fund national reparation and recovery costs. In general, emerging markets face a much larger protection gap than developed economies:

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June 19th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part I

Posted at 1:00 AM ET

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Aidan Pope, Managing Director

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Globally, three of the ten most costly natural disaster events in the last 35 years occurred in total or in part in the Latin America/Caribbean (LAC) region (1); losses from Hurricane Matthew in the Caribbean are still being assessed.

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June 16th, 2017

Insurers Must Digitalize To Meet Buyers’ Needs, Says Greenberg; MMC Young Professionals’ Forum 2017

Posted at 6:50 AM ET

The financial services industry - including insurance - will undergo massive change thanks to digitalization, Evan Greenberg, Chairman and CEO of Chubb Limited told MMC’s Young Professionals’ Global Forum Thursday.

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June 16th, 2017

Cyber Risk Pervades All Classes, But Creates Huge Industry Opportunity, Says Motta; MMC Young Professionals’ Global Forum 2017

Posted at 4:30 AM ET

Cyber risk likely will become the single most pervasive risk that society faces, maybe even more so than climate change, according to Joshua Motta, co-founder and CEO of Coalition.

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June 15th, 2017

Industry Must Act to Avoid a “Kodak Moment;” MMC Young Professionals’ Forum 2017

Posted at 11:50 AM ET

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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June 15th, 2017

Industry Must Bend the Risk Curve to Deliver Value, Says John Doyle; MMC Young Professionals’ Global Forum 2017

Posted at 8:44 AM ET

John Doyle, President of Marsh LLC, called upon delegates at the MMC Young Professionals’ Global Forum to take advantage of the multiple opportunities in the current environment which he called the “Age of the Client.”

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June 15th, 2017

Exponential Thinking Key to Meeting Disruption Challenge, Says Josh Camire; MMC Young Professionals’ Global Forum 2017

Posted at 7:14 AM ET

Josh Camire, Managing Director of ExO Advisors, opened his presentation with the alarming prediction that 40 percent of today’s Fortune 500 companies will cease to exist in 10 years - primarily due to technological disruption.

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June 15th, 2017

Insurance Industry Ripe for Disruption, Says VJ Dowling; MMC Young Professionals’ Global Forum 2017

Posted at 4:30 AM ET

The insurance industry will be profoundly disrupted by technological change, Vincent J. Dowling Jr., Managing Partner of Dowling & Partners Securities LLC, told attendees at MMC’s Young Professionals’ Global Forum in London.

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