Posts Tagged ‘flood’



October 23rd, 2018

Closing the Gap: Public Sector Risk Financing Solutions Increase Community Resiliency - GC@BB Commentary

Posted at 1:00 AM ET

clark_jonathan-headshotJonathan Clark, Head of Public Sector Specialty, U.S.

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  • Only 33 percent of economic disasters are alleviated through (re)insurance
  • Recent functional risk transfer mechanisms use advances in data, analytics and modeling
  • Guy Carpenter and GC Securities* are working with over 100 public entities around the globe

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October 13th, 2018

Hurricane Michael

Posted at 11:11 AM ET

michael_smallHurricane Michael made landfall on October 10 as a high-end Category-4 hurricane on the Florida Panhandle, with maximum sustained winds of 155 mph. The storm rendered severe to complete damage to areas from Panama City to Port Saint Joe, with especially severe damage in Mexico Beach due to severe wind and storm surge. Damage due to wind has caused roof and wall collapse, especially for cinderblock construction and even commercial properties. Some coastal areas of Mexico Beach have been scoured to the foundation by storm surge and wave battering. At least twelve fatalities have been reported by media, although this number could rise as damage survey and search and rescue efforts continue. Our thoughts and concerns are with those lost and directly affected by this event. Hurricane Michael is the strongest hurricane to affect the Continental U.S. since Hurricane Andrew (1992).

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October 1st, 2018

Super Typhoon Trami

Posted at 6:53 PM ET

trami-2-bigIn the West-Pacific Basin, Typhoon Trami made landfall in the city of Tanabe, Japan (Wakayama prefecture) on 30 September at around 11 UTC (8 PM local time), according to media reports. Before reaching Honshu, the typhoon had rendered considerable impacts while making close approach to Okinawa, Kyūshū and Shikoku Islands. Trami brought significant flood impacts as a result of heavy rainfall and storm surge, as well as variable property damage due to wind. Significant power outages and transportation disruption have been reported by media. Over 4.3 million people were given evacuation orders or advisories. Media reports indicate at least four fatalities and 120 injured. It will take time to fully assess the complete scope and severity of the event, and our first thoughts and concerns are with those directly affected. Continue reading…

September 26th, 2018

Recent Thought Leadership from Guy Carpenter - Part II

Posted at 1:00 AM ET

Here we present a recap of recent thought leadership from Guy Carpenter.

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September 18th, 2018

Super Typhoon Mangkhut

Posted at 4:20 PM ET

mangkhutsmallIn the West Pacific Basin, Super Typhoon Mangkhut made landfall in Northern Luzon as a Category-5 on the Saffir-Simpson Scale just after 18 UTC September 14, according to advisories of the Joint Typhoon Warning Center (JTWC). Significant impacts have been reported by media including severe damage due to wind and flooding as well as mudslides. Impacts to agricultural interests in the area have also been reported. After some weakening, Mangkhut then made final landfall just west of Hong Kong as a Category-1 on the Saffir-Simpson Scale just after 06 UTC September 16 in Taishan, according to JTWC and media reports. Considerable impacts due to wind and flooding were reported in Hong Kong, Macau and Guangdong. Media reports indicate at least 70 fatalities as a result of Mangkhut, and our thoughts and concerns are with those lost and affected by this event.

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September 18th, 2018

Hurricane Florence

Posted at 4:06 PM ET

florence-2-smallHurricane Florence made landfall near Wrightsville Beach, North Carolina at 7:15 AM EDT (1115 UTC) September 14, according to the National Hurricane Center (NHC). Maximum sustained winds at landfall were 90 mph, a strong category-one hurricane on the Saffir-Simpson Scale. The storm slowed considerably at landfall causing prolonged exposure of affected areas to damaging wind gusts and significant rainfall. Significant flooding has been reported for areas of the Carolinas and Mid-Atlantic, with greatest severity in areas of eastern North Carolina. The storm has since weakened to a tropical depression while moving into the Ohio Valley. Florence should move through Pennsylvania and New England over the next day or so with an increase in forward speed, and the flood threat persists in the meantime. Downed trees and power lines along with variable property damage have been reported along with significant to catastrophic flooding; the most severely affected areas are in eastern North Carolina. Media reports indicate at least 25 fatalities, and our thoughts and concerns are with those lost and directly affected by this event.

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September 11th, 2018

Data and Analytics Support Innovations in Flood Risk Management - GC@MC Commentary

Posted at 1:00 AM ET

cleary_liz_photo21 Elizabeth Cleary, Managing Director

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  • Increased computing power is fueling innovative solutions for flood underwriting
  • Insurers are using technology to communicate a homeowner’s flood risk with mobile apps
  • Guy Carpenter works extensively with most commercial vendor flood models Continue reading…
September 10th, 2018

Closing the Gap: Public Sector Risk Financing Solutions Increase Community Resiliency - GC@MC Commentary

Posted at 1:00 AM ET

clark_jonathan-headshotJonathan Clark, Head of Public Sector Specialty, U.S.

Contact

  • Only 33 percent of economic disasters are alleviated through (re)insurance
  • Recent functional risk transfer mechanisms use advances in data, analytics and modeling
  • Guy Carpenter and GC Securities* are working with over 100 public entities around the globe Continue reading…
September 6th, 2018

Super Typhoon Jebi

Posted at 7:22 PM ET

jebi-2-200-x-150

In the West Pacific Basin, Typhoon Jebi made first landfall on Shikoku (Tokushima Prefecture) at around 03 UTC on 4 September, and then second landfall near Kobe (Hyōgo Prefecture) at around 05 UTC on the same day. The storm brought reports of damaging wind gusts in excess of 160 km/hr (100 mph), flooding due to storm surge and heavy rainfall and mudslides. Widespread damage and power outages have been reported by media across southern Japan. Flood impacts have been especially severe in the Osaka Prefecture, where the Kansai International Airport was affected by storm surge, with disruption also to transportation links. Media reports indicate at least eleven fatalities and 400 injured. It will take time to fully assess the full scope and severity of this ongoing event, and our first thoughts and concerns are with those directly affected.

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