Posts Tagged ‘Guy Carp’



November 25th, 2014

Emerging Risk: Commercial Terrorism Models

Posted at 1:00 AM ET

The catastrophe modeling companies have regularly updated their terrorism models over the years to reflect the changing threat landscape and help (re)insurers and other market participants perform robust terrorism risk assessments. Such updated products from RMS and AIR include:

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November 24th, 2014

Modeling Terrorism

Posted at 1:00 AM ET

Modeling methodologies for terrorism have been continually refined and updated since the three major modeling companies - AIR Worldwide (AIR), EQECAT and Risk Management Solutions (RMS) - released their first terrorism models in 2002. Quantifying the economic, insured and human losses from a terrorist attack continues to pose major challenges for (re)insurers and alternative capacity providers. There are three main techniques to model terrorism risk:

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November 20th, 2014

Change in the Threat of Terrorism

Posted at 1:00 AM ET

In the Guy Carpenter Global Terrorism Report Uncertain Future: Evolving Terrorism Risk (1) we provide a comprehensive review and outlook of terrorism risk. Key components of the report are highlighted below.

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November 19th, 2014

Terror Developments: Overview of TRIPRA

Posted at 1:00 AM ET

Some may question why terrorism risk has a place in a document dedicated to emerging risk. Terrorism as a form of violence to promote cause or promote change is one of the original human conflicts. The wind blows and the earth shakes much the same way now as it has for hundreds, thousands of years. However, terrorism as a risk and a peril has evolved over the years and is a current concern in all parts of the world. Given the growing population, regional conflicts producing a broad list of potential instigators, the expansive reach of social media for extremists spreading their messages and recruiting and the diversity of possible attack modes to cause human and economic loss, terrorism does qualify as an emerging risk. With this contemporaneity in mind, we will discuss terrorism as an example of an emerging risk that is being aggravated by changes in geo-political events and in the continued notable challenges in modeling its ever changing underlying complexities.

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November 18th, 2014

Emerging Risk: Periodic Payment Orders

Posted at 1:00 AM ET

For a number of reasons the United Kingdom represents an extreme example of the impact of annuity compensation structures. For severe bodily injury cases it is now highly likely that the claimant will opt for an annuity structure (known as a periodic payment order, or PPO) rather than a lump-sum. These are often indexed accordingly to the Annual Survey of Hours and Earnings (ASHE) (1). As a consequence, the uncertainties that had previously been transferred to the claimant are now retained by the insurer (and to a certain extent, its reinsurers). Unlike an individual claimant, the insurer needs to articulate these risks in its capital modeling. These risks can be categorized as follows:

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November 17th, 2014

Compensation “Emerging Risks”

Posted at 1:00 AM ET

From an “emerging risks” perspective it can be seen that the inadequacies of the “lump sum” method of compensation have been highlighted by a number of systemic factors:

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November 13th, 2014

Emerging Compensation Structures

Posted at 1:00 AM ET

Compensation for provision of long-term care for bodily injury is becoming an increasingly challenging problem for society in general and insurers in particular.

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November 12th, 2014

Cyber-attacks and Terrorism Revealed as Top Emerging Risks for 2015, According to Annual Guy Carpenter Survey

Posted at 5:30 AM ET

Cyber-attacks and terrorism are ranked among the top emerging risks concerning the (re)insurance industry in the year ahead, according to a survey released today by Guy Carpenter. According to the findings, new products, expansion into new geographic markets and access to new distribution channels will be the primary drivers of profitable growth in 2015. 

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November 12th, 2014

Cyber Coverage: Directors & Officers (D&O) Liability

Posted at 1:00 AM ET

Cyber coverage is also having an effect on directors and officers (D&O) liability in the United States. Oversight and increased requirements for disclosure on cybersecurity are making D&O coverage more important than ever. With the rise of data breaches and other cyber-attacks, directors and officers are responsible for making sure that they are taking sufficient steps to protect their company’s digital assets. In the case of a data breach, directors can be hit with shareholder suits and shareholder derivative actions claiming that the directors breached their fiduciary duty to the company for failing to put adequate cyber security measures in place.

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November 6th, 2014

Chart: Combined Ratio for Guy Carpenter Composite, H1 2014

Posted at 1:00 AM ET

Chart presents combined ratio for the Guy Carpenter Global Reinsurance Composite, 2004 through first half, 2014.

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