Compensation for provision of long-term care for bodily injury is becoming an increasingly challenging problem for society in general and insurers in particular.
- Cyber-attacks and Terrorism Revealed as Top Emerging Risks for 2015, According to Annual Guy Carpenter Survey
- Baden-Baden Reinsurance Symposium Assesses Future Impact of Current Market Conditions
- Influx of New Capital Continues to Reshape the Reinsurance Market
Cyber-attacks and Terrorism Revealed as Top Emerging Risks for 2015, According to Annual Guy Carpenter Survey
Cyber-attacks and terrorism are ranked among the top emerging risks concerning the (re)insurance industry in the year ahead, according to a survey released today by Guy Carpenter. According to the findings, new products, expansion into new geographic markets and access to new distribution channels will be the primary drivers of profitable growth in 2015.
Cyber coverage is also having an effect on directors and officers (D&O) liability in the United States. Oversight and increased requirements for disclosure on cybersecurity are making D&O coverage more important than ever. With the rise of data breaches and other cyber-attacks, directors and officers are responsible for making sure that they are taking sufficient steps to protect their company’s digital assets. In the case of a data breach, directors can be hit with shareholder suits and shareholder derivative actions claiming that the directors breached their fiduciary duty to the company for failing to put adequate cyber security measures in place.
Here we examine the variations in the regulation of data protection and privacy between the United States and Europe.
Demand for Asia Pacific Catastrophe Reinsurance Remains High in 2014: Guy Carpenter published a new report highlighting the continued increase in 2014 of total Asia Pacific catastrophe limit purchased. However, a confluence of factors, including the weakening of some key zone currencies has meant that reinsurance premium spend in the region has declined significantly.
Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line index is presented for 1990 through 2014. The index fell by 11 percent at January 1, 2014.
Chart: Return On Equity For Guy Carpenter Reinsurance Composite, H1 2014: Chart presents return on equity for the Guy Carpenter Global Reinsurance Composite, 2004 through first half, 2014.
Guy Carpenter and Oliver Wyman Publish Annual Insurance Risk Benchmarks Research: Guy Carpenter and Oliver Wyman, both wholly owned subsidiaries of Marsh & McLennan Companies, released the 2014 Insurance Risk Benchmarks Research: Annual Statistical Review, the first in a two-part series detailing research executed in collaboration with Columbia University. This, the fourth annual report, provides detailed analysis and insight on the property/casualty industry to help insurers strategically evaluate and benchmark inputs to economic capital models.
Chart: Evolution of Shareholders’ Funds For Guy Carpenter Reinsurance Composite, H1 2014: Chart presents the evolution of shareholders’ funds for the Guy Carpenter Global Reinsurance Composite, 2012 through first half, 2014.
And, You May Have Missed…
As Cyber-Attacks Escalate, So Does Demand for Cyber-Specific Insurance: From data breaches, to network business interruption to cyber extortion, the frequency and severity of cyber-attacks that have struck governments, utilities, individuals, medical and academic institutions and companies of all sizes are on the rise.