June 17th, 2013
A.M. Best BCAR Updates
Posted at 1:00 AM ET
A briefing prepared by Guy Carpenter’s Ratings Advisory Team outlines important changes to the BCAR methodology and their implications.
Posts Tagged ‘Casualty’
June 11th, 2013
Guy Carpenter’s MetaRisk® Reserve™ Awarded Patent as Breakthrough Innovation in Reserve Risk Modeling
Posted at 11:00 PM ET
Guy Carpenter & Company has been awarded a patent for MetaRisk Reserve by the U.S. Patent Office for creating a unique and easy-to-use predictive model for the analysis of reserve risk.
May 28th, 2013
Guy Carpenter’s Chief Economist on Opportunities for Profitable Growth
Posted at 1:00 AM ET
In honor of her being awarded Insurance Woman of the Year by the Association of Professional Insurance Women, we highlight Joan Lamm-Tennant’s recent article that appeared on GC Capital Ideas. Joan is Guy Carpenter’s Chief Economist and Risk Strategist.
May 16th, 2013
New Guidelines for Managing Product Recalls and other Corrective Actions in Belgium
Posted at 1:00 AM ET
Many of the products people use every day are made in foreign countries - from coffee makers produced in China to cars built in Germany to cell phones manufactured in India. While many of these products fulfill their purpose without any complications, there are others that cause problems for their users. A coffee maker might spill boiling water or a car’s airbag might not open properly. These problems can be caused by manufacturing errors or flaws in product design.
April 23rd, 2013
Italian Court Decision Encourages Strict Compliance with Industrial Safety Regulations
Posted at 1:00 AM ET
On December 12, 2007, there was a fire in an industrial plant in Turin that was owned and managed by ThyssenKrupp Acciai Speciali Terni S.p.a. (ThyssenKrupp), an Italian subsidiary of ThyssenKrupp Stainless group. The violent fire occurred in a cold annealing and pickling line, called APL5, where there is typically a significant amount of lubricant oil and paper, as well as sparks generated by the plant’s industrial process.
April 4th, 2013
What About the “S” in ORSA? Actuaries Raise Their Hands: Part II
Posted at 1:00 AM ET
Micah Woolstenhulme, Senior Vice President
Contact
This post is Part II of an earlier post that reviewed a session held at the Casualty Actuarial Society Annual Meeting. In that session, attendees hypothetically viewed the P&C industry as a single large company. Audience members were shareholders and session panelists adopted various executive and leadership roles in the company. The meeting’s task was to vet an economic capital model before the board of directors, allowing individual shareholders the freedom to openly question the model’s input and results. This model, if properly developed and embedded into the company’s strategic management, would represent a key component of the Own Risk and Solvency Assessment (ORSA) Summary Report that will be required of large companies in the industry as early as 2015. Along the way, the presentation and board discussion were interrupted to poll the audience members on several interesting questions.
April 3rd, 2013
What About the “S” in ORSA? Actuaries Raise Their Hands: Part I
Posted at 1:00 AM ET
Micah Woolstenhulme, Senior Vice President
Contact
At the 2012 Casualty Actuarial Society (CAS) Annual Meeting in Orlando, Florida, the general session, “Economic Capital Modeling for ORSA in the U.S. Property and Casualty (P&C) Industry: The Stakeholders Convene,” afforded participants a novel opportunity to satisfy their continuing education credits. In that session, attendees hypothetically viewed the P&C industry as a single large company. Audience members were shareholders and session panelists adopted various executive and leadership roles in the company.
March 27th, 2013
Profitable Growth Opportunities
Posted at 1:00 AM ET
Here we present recent GC Capital Ideas stories focusing on profitable growth.
March 26th, 2013
Chart Room: Reserve Cycle, General Liability Claims Made and Products Liability Claims Made
Posted at 1:00 AM ET
The lines have begun to show deteriorating results in the most recent accident years.
March 20th, 2013
Marsh United States Insurance Market Report 2013
Posted at 1:00 AM ET
Guy Carpenter sister company Marsh’s 2013 United States Insurance Report reveals that although U.S. commercial insurance rates are expected to continue firming in many lines of business and industry sectors in 2013, traditional signs of a conventional hard market are not evident as price increases are not uniform, capacity is plentiful and competition among insurers remains intense.
