Posts Tagged ‘GC Analytics’



February 7th, 2019

Automobile Liability Segment Outlook

Posted at 1:00 AM ET

In 2017, writers of automobile (auto) liability insurance continued to cope with deteriorating combined ratios, which remained above 100 percent for the seventh consecutive year. While carriers have implemented effective strategies that improved their operations and as a result are achieving improved expense ratios, evolving market and environment factors continue to challenge auto insurers. Consequently, improved expense ratios and premium increases did not rise as rapidly as claims and losses. The outlook for the sector remains negative. Continue reading…

January 22nd, 2019

Mw 6.7 Earthquake – Near Coquimbo, Chile

Posted at 5:14 PM ET

1_smallA magnitude (Mw) 6.7 earthquake was reported near Coquimbo, Chile around 01:32 UTC January 20, according to the U.S. Geological Survey (USGS). The epicenter was located at a depth of 53 km (33 miles) and about 15 km (9 miles) SSW of Coquimbo, Chile, between the regions of Atacama and O’Higgins. Media reports to date indicate variable damage to property and infrastructure, although impacts appear to have been limited by the resilient building codes in the area. Some disruption to transportation has also been reported, along with some impacts to infrastructure and numerous power outages. Continue reading…

January 17th, 2019

Guy Carpenter Announces New Division and Senior Appointments Designed to Deliver Enhanced Client Value

Posted at 9:41 AM ET

Guy Carpenter today announced the formation of a new Global Capital Solutions Group and a series of new leadership appointments related to the Jardine Lloyd Thompson Group plc (JLT) acquisition. These appointments will become effective upon closing of the transaction between Guy Carpenter’s parent company, Marsh & McLennan Companies, and JLT, which remains subject to the receipt of certain antitrust and financial regulatory approvals. Continue reading…

December 28th, 2018

Sydney Hailstorms, December 20, 2018

Posted at 8:49 PM ET

australia-hail-small1A severe convective storm affected large parts of New South Wales, including Sydney, the Central Coast and Wollongong from 4:00 to 7:00 pm on December 20, 2018. The storm generated large hail, damaging winds and flash flooding in many areas of the state. According to the Australian Bureau of Meteorology (BOM), there were ground reports of hail of 8 cm diameter in Berowra Heights in Sydney’s north and similar size hail in Casula and Liverpool in the city’s southwest.  The Nattai National Park west of Picton also experienced large hail. Initial damage reports indicated that the suburbs of Berowra Heights, Hornsby, Liverpool, Gosford and Lithgow were the most severely affected. Given that the event occurred during the Christmas holidays, many residents and businesses have not fully assessed the extent of damages; therefore, loss estimates are expected to increase in the next few weeks.

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December 26th, 2018

GC Capital Ideas: CAT-i Stories: Fourth Quarter 2018

Posted at 1:00 AM ET

Here is a look back at the CAT-i articles from October 1 through December.

Mw 7.0 Earthquake – Near Anchorage, Alaska: The magnitude (Mw) 7.0 earthquake near Anchorage, Alaska, on November 30 occurred at a depth of 44.1 km as the result of a slip on an intraslab fault within the subducting Pacific slab. According to the United States Geological Survey, the faulting involved a moderately dipping fault striking north-south, below the shallower thrust-faulting interface between the Pacific Plate and the North America Plate. A tsunami warning was issued but later lifted by the U.S. National Weather Service. Damage was reported to buildings, including interior damage and some cracked foundations with some building collapses.

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California Wildfire Activity: November Wildfire activity in California rendered especially severe impacts in Northern and Southern 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. Camp, Woolsey and Hill Fires 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 (as reported in the CAT-i on November 29). These fires have also claimed at least 91 lives. Media reports indicate estimated insured losses for the Camp and Woolsey Fires of around USD 9-13 billion as reported by RMS.

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Hurricane Michael: Hurricane Michael, the strongest hurricane to affect the Continental U.S. since Hurricane Andrew in 1992, 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. Wind caused roof and wall collapse, especially for cinderblock construction and even commercial properties. Some coastal areas of Mexico Beach were scoured to the foundation by storm surge and wave battering. At least 12 fatalities were reported by media by the time the CAT-i was released.

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Super Typhoon Trami: In the West-Pacific Basin, Typhoon Trami made landfall in the city of Tanabe, Japan (Wakayama prefecture) on 30 September, 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 were reported by media. Over 4.3 million people were given evacuation orders or advisories. Media reports indicated at least four fatalities and 120 injured.

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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_small1Recent 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 efforts over 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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