June 11th, 2018

Standalone Terrorism Insurance Remains Competitive

Posted at 1:00 AM ET

terrorism-rep-connections-banner-2Unlike 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. Companies may purchase standalone property terrorism insurance as an alternative to TRIPRA coverage or to augment it. Standalone pricing is competitive and is expected to remain so in 2018, barring a significant change in circumstances. Standalone policies can offer broad terms and conditions.

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June 8th, 2018

Week’s Top Stories: June 2 - 8, 2018

Posted at 10:02 AM ET

GC Securities Acts as Sole Structurer and Bookrunner on the First Ever Cat Bond Issued Under the New UK Risk Transformation Legislation: *GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today 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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Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

View the chart >>


Guy Carpenter Extends Capital Markets Expertise with Hire of President and Global Leader, GC Securities, Capital Markets: Guy Carpenter, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies, today hired 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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Directors Risk Survey Report 2018: Guy Carpenter sister company Marsh has introduced their 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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Captives’ Future Will Track with Global Risks: What does the future hold for captives? Trends that may alter captive owners’ strategies include tax reform, climate change and emerging technologies.

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And, you may have missed….

Terrorism Risk Modeling Poses Challenges: Terrorism risk modeling methods have been continually updated since leading modeling companies AIR Worldwide and Risk Management Solutions released their first terrorism models in 2002. Quantifying the economic, insured and human losses from terrorist attacks poses major challenges for insurers, reinsurers and alternative capacity providers.

Read the article >>


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June 7th, 2018

Captives’ Future Will Track with Global Risks

Posted at 1:00 AM ET

What does the future hold for captives? Trends that may alter captive owners’ strategies include tax reform, climate change and emerging technologies.

Continue reading…

June 6th, 2018

Directors Risk Survey Report 2018

Posted at 1:00 AM ET

Guy Carpenter sister company Marsh has introduced their 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.

Continue reading…

June 5th, 2018

GC Capital Ideas Top Stories: May 2018

Posted at 1:00 AM ET

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

View the chart >>


2. Guy Carpenter Licenses First-of-its-Kind Cyber Risk Modeling Platform From CyberCube Following Strategic Alliance: Guy Carpenter & Company today announced that its two year strategic relationship with CyberCube Analytics, formerly part of Symantec Corporation, has produced the industry’s first cyber risk modeling platform with an inside-out view of cyber risk exposure.

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3. The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented: As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

Read the article >>


4. Terrorism Risk Modeling Poses Challenges: Terrorism risk modeling methods have been continually updated since leading modeling companies AIR Worldwide and Risk Management Solutions released their first terrorism models in 2002.

Read the article >>


5. 2018 North Atlantic Hurricane Season: Seasonal outlook providers continue to issue early predictions for the 2018 North Atlantic hurricane season.

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6. Guy Carpenter Bermuda Promotes Jenni Rowntree Estis to Head of Operations: Guy Carpenter today announced that Bermudian Jenni Rowntree Estis has been promoted to the role of Head of Operations, Senior Vice President, Broking.

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7. Building for Resilience: How to Avoid a Catastrophe Model Failure: Since commercial catastrophe (CAT) models were first introduced in the 1980s, they have evolved as new scientific discoveries and claims insights emerged.

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8. United States Reinsurance Capacity for Terrorism: In 2017, according to Guy Carpenter, the combined property and workers compensation private conventional-only terrorism reinsurance capacity was estimated to be USD 2.5 billion per cedent program. Reinsurance capacity for coverage that includes Nuclear, Biological, Chemical and Radiological, especially in Tier 1 cities and central business districts, has become increasingly challenging to secure over the past two years due to the accumulated aggregate constraints of some markets and is estimated to range between USD 500 million and USD 1 billion per program.

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9. Internet of Things: Building Cyber Resilience in a Connected World: The Internet of Things (IoT) is driving huge advances in organizational efficiency, reinventing the customer experience and spurring business innovation and opportunities. But the explosion of IoT devices is also dramatically changing the cyber risk landscape, creating new product vulnerabilities and system exposures for organizations that make or deploy them.

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10. Wearables, Drones and the Internet of Things: The Next Wave of Workplace Safety and Claims Mitigation: The advent of connected devices and the Internet of Things (IoT) is opening exciting new doors in the insurance industry. The auto liability market has transformed from one in which underwriting relied on proxy variables such as driving history, demographics and credit scores to one in which telematics and real-time, personalized driving statistics inform risk assessment.

Read the article >>


Click here to register to receive e-mail updates >>

June 4th, 2018

Guy Carpenter Extends Capital Markets Expertise with Hire of President and Global Leader, GC Securities, Capital Markets

Posted at 10:14 AM ET

Guy Carpenter, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies, today hired 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.

Continue reading…

June 4th, 2018

GC Securities Acts as Sole Structurer and Bookrunner on the First Ever Cat Bond Issued Under the New UK Risk Transformation Legislation

Posted at 2:00 AM ET

*GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today 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.

Continue reading…

June 1st, 2018

Week’s Top Stories: May 26 - June 1, 2018

Posted at 10:13 AM ET

Terrorism Risk Modeling Poses Challenges: Terrorism risk modeling methods have been continually updated since leading modeling companies AIR Worldwide and Risk Management Solutions released their first terrorism models in 2002. Quantifying the economic, insured and human losses from terrorist attacks poses major challenges for insurers, reinsurers and alternative capacity providers.

Read the article >>


More Firms Using Captives to Finance Emerging Risks: Captive growth has not been a “numbers only” trend. Captives have spread geographically into dozens of countries, evolved into multiple forms and financed a variety of risks. Most industries now have captives, with notable year-over-year growth in the Asia-Pacific region and the largest captives becoming even bigger and more strategic.

Read the article >>


The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented: As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

Read the article >>


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

View the chart >>


Guy Carpenter Bermuda Promotes Jenni Rowntree Estis to Head of Operations: Guy Carpenter today announced that Bermudian Jenni Rowntree Estis has been promoted to the role of Head of Operations, Senior Vice President, Broking.  In the new role as Head of Operations, Mrs Rowntree Estis will oversee IT, human resources, finance and client administration services at the company and maintain administration, monitoring, reporting, communication and liaison on all company affairs with executives.

Read the article >>



And, you may have missed….

Wearables, Drones and the Internet of Things: The Next Wave of Workplace Safety and Claims Mitigation: The advent of connected devices and the Internet of Things (IoT) is opening exciting new doors in the insurance industry. The auto liability market has transformed from one in which underwriting relied on proxy variables such as driving history, demographics and credit scores to one in which telematics and real-time, personalized driving statistics inform risk assessment.

Read the article >>


Click here to register to receive e-mail updates >>

May 31st, 2018

The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented

Posted at 1:00 AM ET

As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

Continue reading…