Posts Tagged ‘GC Analytics’



November 30th, 2018

Mw 7.0 Earthquake – Near Anchorage, Alaska

Posted at 4:59 PM ET

alaska-eq_small_newA magnitude (Mw) 7.0 earthquake was reported near Anchorage, Alaska around 17:29 UTC on November 30 (8:29 local time), according to the U.S. Geological Survey (USGS). The epicenter was located at a depth of 44.1 km and about 12.9 km (8.0 miles) north of Anchorage, Alaska. A tsunami warning was issued but later lifted by the U.S. National Weather Service. Initial media reports indicate that the event rendered considerable damage to infrastructure including roads, power and water, along with significant transportation disruption. Damage has been reported to buildings including interior damage and some cracked foundations with some building collapses. Initial media reports indicate no fatalities or injuries, although survey efforts are still ongoing.

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November 29th, 2018

Wildfire Activity - California - Update

Posted at 7:25 PM ET

calwildfires-small1

Recent wildfire activity has rendered especially severe impacts to areas of California, including areas of Butte, Los Angeles and Ventura Counties. Rates of extreme fire spread were enabled by especially dry, windy conditions on November 8 and the days following. Aggressive firefighting efforts allowed containment efforts to progress despite adverse conditions over the following week. Periods of heavy rainfall have recently allowed firefighting crews to bring the last of the fires to 100 percent containment over the last week. The Camp, Woolsey and Hill Fires have burned an estimated 20,297 structures since November 8, including at least 13,972 residential structures from the Camp Fire alone, according to Cal Fire statistics. These fires have also claimed at least 91 lives. Recent heavy rainfall has amplified the threat for flash-flooding and debris flows in and around the burn scars. Media reports indicate estimated insured losses for the Camp and Woolsey Fires of around USD 9-13 billion as reported by RMS. It will take some time to determine the full scope and severity of this event as search, recovery and survey efforts continue. Our first thoughts and concerns remain with those lost and directly affected by this event.

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November 14th, 2018

Wildfire Activity – California

Posted at 9:37 PM ET

calwildfires-smallSignificant wildfires have affected areas of northern and southern California due to extremely dry, windy conditions and very dry fuels. In Northern California, the Camp Fire has burned at least 130,000 acres since November 8 and claimed at least 48 lives, making this the deadliest wildfire in known California history. Damage survey efforts are still ongoing, however initial reports indicate at least 7,600 residences destroyed with another 225 damaged. Meanwhile in Southern California, the Woolsey Fire has consumed at least 97,620 acres along with 483 structures, and at least two lives. Ongoing dry, windy conditions have offset containment efforts. However, aggressive firefighting efforts of over 5,100 firefighters have brought the Camp Fire and Woolsey Fire to 35 and 47 percent containment, respectively. The cause of these fires remains under investigation, according to Cal Fire. A federal disaster area has been declared to better allow emergency assistance. Improving weather conditions should enable greater progress with containment effortsover the coming days.

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October 23rd, 2018

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

Posted at 9:00 AM ET

cleary_liz_photo21 Elizabeth Cleary, Managing Director

Contact

  • 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

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October 22nd, 2018

A Strategic Approach to Profitable Growth - GC@BB Commentary

Posted at 1:00 AM ET

priebe_david_croppedDavid Priebe, Vice Chairman

Contact

  • Availability of rich data sets and analytic solutions enables evaluation of opportunities
  • Companies seeking growth must evaluate their existing distribution channels
  • Drones and self-driving cars present challenges for (re)insurers

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October 21st, 2018

Pushing the Model Boundaries - GC@BB Commentary

Posted at 1:00 AM ET

cox_andrew_bio2eddy-vanbeneden-small1till-wagner-final1Andrew Cox, Managing Director, GC Strategic Advisory; Eddy Vanbeneden, Managing Director, Head of GC Analytics, Continental Europe; Till Wagner, Senior Vice President, GC Strategic Advisory Contact

  • Companies keen to expand internal capital model remit
  • Multiple factors hindering ability to integrate into broader strategic framework
  • New technologies support rapid model evolution and increased data resolution

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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.

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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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