Posts Tagged ‘Casualty’



June 11th, 2019

Asia’s Health Care Industry Reels From Cyberattacks

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallHealth care is one of the sectors most vulnerable to cyberattacks, with more than one in four (27 percent) health care organizations reporting that they have been a victim of a cyberattack in the past 12 months. This is more than financial institutions (20 percent) and nearly twice the incidence in the communications, media and technology sector (14 percent). Despite this, respondents from the health care industry underestimate the likelihood of a cyberattack.

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June 10th, 2019

Healthcare Organizations and Medical Risk: What HCOs Need to Know About the Medical Risks They Own

Posted at 1:00 AM ET

diagnostic-risk-squareAs healthcare organizations transition their business models from “fee for service” to “fee for value,” margin pressure, capital allocation and expense management are pitfalls to a successful transition. We argue that the creation of an integrated risk strategy framework to think about medical risk collectively (the medical risk continuum) will empower healthcare organizations to manage this transition more effectively and ultimately lower healthcare claim risk costs.

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June 6th, 2019

Modeling Insights

Posted at 1:00 AM ET

Here we review recent GC Capital Ideas posts covering insights on modeling.

A Risk Overview of Wildfire: 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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Understanding Flood Risk in Malaysia Through Catastrophe Modeling: According to Malaysia’s Department of Irrigation and Drainage, the many rivers running through the country put about 9 percent of the total land area under flood risk, potentially affecting 2.7 million people. Rapid urbanization is only going to worsen the problem through rising population concentrations and at-risk infrastructure, land consumption and the channeling of water courses.

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Methodological Considerations in the Statistical Modeling of Catastrophe Bond Prices: John Major has authored an article that aims to help actuaries, financial analysts, statisticians, data scientists and their clients better investigate how property catastrophe risk, and particularly catastrophe bonds, are  priced.

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Are You at Risk? Managing Affirmative and Silent Cyber Risk Accumulation: The script of the global cyber insurance market is still mainly being written in the United States. Approximately 85 percent of global cyber insurance premiums of between USD 2.5 and 3.5 billion are generated in the United States. The take-up rate for this line of business in Asia is still relatively low, but the Japan market has been experiencing steady growth in the last 24 months.

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Click here for more insights from Guy Carpenter >>

June 5th, 2019

The 2019 Captive Landscape

Posted at 1:00 AM ET

The number of organizations and risk professionals embracing captives as a tool to secure their future continues to grow, according to Marsh’s 2019 Captive Landscape report.

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May 30th, 2019

Global Insurance Pricing Rises in First Quarter of 2019

Posted at 1:00 AM ET

dean_kisura_hsDean M. Klisura, President, Global Placement, Marsh

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Average insurance pricing in the first quarter of 2019 in the United States increased by 1.1 percent, year over year. Property pricing increased 4 percent and has now increased each quarter since the fourth quarter of 2017, a period marked by catastrophe losses that included an above-average North American hurricane season. Large, multilayered property programs (those with gross written premium greater than USD 1 million) led the pricing increases, up nearly 7 percent.

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May 29th, 2019

From Risk To Strategy: Embracing The Technology Shift

Posted at 1:00 AM ET

969187372Technological change and digitalization can help risk functions in Asia Pacific increase their efficiency and effectiveness, but this will require new skills at an individual level, a supportive organizational environment and a well-managed transformation program.

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May 28th, 2019

How Will Gene Therapy Change the Health Insurance Landscape?

Posted at 1:00 AM ET

diagnostic-risk-squareGene therapy is a new kind of specialty medical treatment. A patient receives a one-time injection of DNA-filled viruses, and those viruses get to work changing the way a patient’s cells react. So far, three gene therapy treatments have been approved by the U.S. Food and Drug Administration: two are CAR T-cell immunotherapy treatments used for fighting leukemia, and one treats a hereditary blindness condition. Gene therapy is now considered an experimental treatment. If it enters the standard of care, payers may be faced with a whole new universe of high-cost claims.

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May 23rd, 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

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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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May 22nd, 2019

Preparing For a Cyber Attack

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallCybersecurity in many organizations has over the last few years been exposed as kind of a Swiss cheese solution, as cyber criminals have found vulnerable entry points to pull off major hacks costing companies hundreds of millions of dollars. In countless cases, companies have failed to erect strong defenses, or failed to recognize and quickly react to an attack. Clearly, cybersecurity needs to be elevated to the top levels of risk-mitigation strategy, alongside currency risk, natural disaster, and terrorist attacks.

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