Posts Tagged ‘Casualty’



November 15th, 2018

GC Videocast - Emerging Cyber Risks Explained

Posted at 1:00 AM ET

The “years of data breaches,” 2013 and 2014, evolved to healthcare breaches, followed by ransomware attacks. What cyber perils lie ahead?  Guy Carpenter’s Jeremy S. Platt, Managing Director and Cyber Solutions Specialty Practice Leader; and Chris Shafer, Assistant Vice President at Cyber Solutions Specialty Practice, explain in the video.

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November 13th, 2018

A Math Formula May Offer a Solution to Insurers’ Critical Challenges

Posted at 1:00 AM ET

Guy Carpenter has developed a methodology that applies a mathematical formula to provide insurers and reinsurers with a unified, practical framework for risk pricing and capital allocation.

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November 12th, 2018

Increasing Frequency of Extreme Weather Events in Asia Pacific

Posted at 1:00 AM ET

_offset_472526_smallThe Asia Pacific may be the most adversely impacted region by the pronounced increase in the frequency of extreme weather events around the world. The Guy Carpenter Asia-Pacific Catastrophe Report 2017 projects an increase in economic losses from natural disasters in Asia, which amounted to USD 126 million a day between 2006 to 2015 (1).

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November 8th, 2018

Silent Cyber Explained

Posted at 1:00 AM ET

“Silent cyber,” also known as unintended or non-affirmative coverage, refers to the unknown or unquantified exposures stemming from cyber perils that may be triggered within traditional property and liability insurance policies. The systemic nature of the cyber risk means silent cyber may become increasingly more prevalent in virtually every type of insurance policy.

Fundamentally, silent cyber arises from policies that may not explicitly provide a cyber coverage grant or from a cyber exclusion that is poorly worded or unclear. The “gray area” of where liability lies can also arise if insuring agreements are satisfied but the insurer did not price for or contemplate loss scenarios originating from a cyber peril.

For example, a commercial building with a property insurance policy suffers a cyber-attack that leads to a structure fire, which in turn damages the building’s HVAC system; and the event results in disruption in occupancy and use for several weeks. If the building’s insurance policy has no explicit cyber coverage or exclusions or the exclusion for cyber is ambiguous, it can create a gray area about coverage. On the other hand, if the building has cyber insurance that covers the damage to the server, and property insurance that covers the damage to the property, then it may lead to questions over which policy covers the damage to HVAC and which one applies to the business interruption.

Guy Carpenter has best-in-class capabilities and has placed over 30 stand-alone and blended cyber programs globally that protect against non-affirmative silent cyber.

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November 7th, 2018

Recent Thought Leadership from Guy Carpenter – Asia Pacific Focus

Posted at 1:00 AM ET

Here we present a recap of recent thought leadership from Guy Carpenter focusing on important insurance and reinsurance topics in Asia Pacific.

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November 6th, 2018

Evolving Terror Threats - Innovation Needed to Meet Changing Demands

Posted at 1:00 AM ET

New modes of attack are causing a shift from large terrorist events aimed at property destruction to less sophisticated attacks causing mass casualties and fear. With global commerce, tourism and financial markets impacted, demand is growing for modeling, capacity and protection-gap solutions to increase resiliency against such attacks.

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November 5th, 2018

Recent Thought Leadership from Guy Carpenter – North America Focus

Posted at 1:00 AM ET

Here we present a recap of recent thought leadership from Guy Carpenter focusing on important insurance and reinsurance topics in North America.

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October 31st, 2018

Flood risk challenges in Asia - GC@SIRC Commentary

Posted at 9:00 PM ET

mark-weatherhead-finalMark Weatherhead, Head of Model Development, International

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  • Asia is particularly prone to flooding because of three factors: hydrology, population density and mitigation rate
  • To improve loss assessments, hazard data should be combined with other data types, such as probabilistic event sets and defense information
  • Guy Carpenter has made a significant investment in data and technology to help our clients improve their understanding of flood risk

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October 29th, 2018

Closing the Gap: Insurance Penetration and Public Sector Risk Financing in Asia Pacific - GC@SIRC Commentary

Posted at 10:00 PM ET

michael-schwarz_resizedMichael Schwarz, Head of Public Sector, Asia Pacific

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  • Our industry should be a critical contributor to increasing community resilience against volatility and shocks to their environments
  • Public-private risk-transfer partnerships offer a huge opportunity for the insurance industry to grow. However, one size does not fit all. In addition to technical expertise, specific knowledge and understanding of client needs are essential
  • Recent functional risk transfer mechanisms are using data, analytics and modeling to spur change in the landscape around flood, droughts and other perils

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