Archive for the ‘Top Stories’ Category

April 17th, 2019

Evolving Regulatory Pressures Signal Potential Turning Point in Cyber Risk Management Strategies

Posted at 1:00 AM ET

Siobhan O’Brien, Head of the Cyber Center of Excellence for International and Global Specialties


Cyber risk presents an exciting opportunity for re/insurers, but as one of the most dynamic perils in the industry, regulators are formalizing capital requirements and quantitative and qualitative measurements of risk appetite. In the United Kingdom, the Prudential Regulation Authority (PRA) is now asking (re)insurers to develop a silent cyber action plan by the end of the first half of 2019 and will conduct deep-dives on select firms in the second half to assess how they are meeting expectations described in a 2017 supervisory statement. It will then further assess affirmative cyber risk via an exploratory stress test later this year.

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March 25th, 2019

A Risk Overview of Wildfire

Posted at 1:00 AM ET

Today, the frequency and severity of wildfires are garnering greater attention-not only from the media, but also from (re)insurers, catastrophe modelers, mitigation experts and other invested parties.

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March 19th, 2019

Global Cyber Terrorism Incidents on the Rise

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallThe nature of the terrorism threat facing society has changed considerably in the last 20 years. Previously, governments and (re)insurers structured their mitigation strategies and responses to deal with attacks that were large in scale. Continue reading…

February 26th, 2019

First Singapore Catastrophe Bond Sets Stage for ILS Expansion in Asia-Pacific

Posted at 8:15 PM ET

The first catastrophe bond has been issued out of Singapore. This highlights the potential of the insurance- linked securities (ILS) market in the region, and is aligned with the city-state’s efforts to establish itself as a global hub for Asian risk transfer. The bond is sponsored by Insurance Australia Group (IAG) as part of its 2019 catastrophe aggregate reinsurance cover and represents the first such transaction by the company.

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February 19th, 2019

Sidecars: Capitalizing on Market Cycles to Improve Client Solutions

Posted at 1:00 AM ET


Geoffrey Sweitzer, Managing Director, GC Securities*

Following U.S. hurricanes Katrina, Rita and Wilma in 2005 and the ensuing “hard” property catastrophe reinsurance market, reinsurers and investors increasingly started turning to sidecar insurance linked securities to access new and replacement capacity. Continue reading…

February 12th, 2019

Chart: Global Property Catastrophe ROL Index

Posted at 1:00 AM ET

The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2019.

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February 7th, 2019

Automobile Liability Segment Outlook

Posted at 1:00 AM ET

In 2017, writers of automobile (auto) liability insurance continued to cope with deteriorating combined ratios, which remained above 100 percent for the seventh consecutive year. While carriers have implemented effective strategies that improved their operations and as a result are achieving improved expense ratios, evolving market and environment factors continue to challenge auto insurers. Consequently, improved expense ratios and premium increases did not rise as rapidly as claims and losses. The outlook for the sector remains negative. Continue reading…

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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November 20th, 2018

Affirmative versus Silent Cyber: An Overview

Posted at 1:01 AM ET

While the current debate over “affirmative” versus  “non-affirmative” coverage has been ongoing for a few years, WannaCry and Petya/NotPetya cyberattacks helped make the issue of ”silent cyber” more critical. These two 2017 cyberattacks effectively shifted the conversation from data breach, notification costs and third-party liability to first-party liability insuring agreements due to the extent and expanse of the systematic, large-scale damages they triggered.

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