Guy Carpenter sister company Marsh’s 2013 United States Insurance Report reveals that although U.S. commercial insurance rates are expected to continue firming in many lines of business and industry sectors in 2013, traditional signs of a conventional hard market are not evident as price increases are not uniform, capacity is plentiful and competition among insurers remains intense.
Here we highlight recent insurance thought leadership from Guy Carpenter’s sister companies.
Guy Carpenter sister company, Marsh, has just published “Lessons Learned from the Catastrophes of 2011.” According to the report, the scale of the catastrophes experienced in 2011 exceeded previous loss-modeling predictions and has challenged established thinking on the nature of risk. Companies now need to re-examine their risk management strategies and introduce new methodologies to strengthen their operational and financial resilience.
Marsh & McLennan Companies announced that Alexander Moczarski, President and CEO of Guy Carpenter, has assumed the additional role of Chairman, Marsh & McLennan Companies International.
Marsh’s Risk Spotlight series are monthly briefs from some of Marsh’s top risk and insurance experts. We present here a compilation of all the 2011 stories. They covered a range of topics, starting with the role of data and analytics in our industry and ending with a focus on the ever-changing world of employee benefits. In between, Marsh sought to highlight innovations in such areas as catastrophe modeling trends, managing workers’ compensation costs, the implications of new government regulations and more.
Marsh & McLennan Companies, Inc. announced that two of its executives in its Marsh and Guy Carpenter subsidiaries have been named ‘Women to Watch’ by Business Insurance magazine.
Marsh & McLennan Companies, Inc. announced that LEED Gold Certification has been awarded to Guy Carpenter for its headquarters at 1166 Avenue of the Americas in New York. LEED (Leadership in Energy and Environmental Design) is the U.S. Green Building Council’s certification system for the design, construction and operation of green buildings.
Here we present the top stories on enterprise risk management that appeared in GC Capital Ideas in the first six months of 2011.
Marsh and RIMS Survey: Excellence in Risk Management VIII: According to Excellence in Risk Management VIII: Greater Expectations, Greater Opportunities, a new survey conducted by Marsh and the Risk and Insurance Management Society (RIMS), executives in the C-suite expect risk managers to step up and take a more active role in integrating enterprise-wide risk management with their organizations’ broader strategic goals.
Guy Carpenter Wins Enterprise Risk Management Award: Guy Carpenter & Company has won an award for its thought leadership and innovative research in enterprise risk management (ERM) from the Joint Risk Management Section of the Casualty Actuarial Society, Canadian Institute of Actuaries and Society of Actuaries. Working with research firm Risk Lighthouse LLC, Guy Carpenter accepted the 2011 Award for Practical Risk Management Applications at the 2011 ERM Symposium, held March 14-16 in Chicago.
Succeeding Under Solvency II: Pillar One, Capital Requirements; Part I: Despite its nominally European focus, Solvency II presents a wide range of considerations - and opportunities - to insurance entities worldwide. This new regulatory framework will enact a fundamental change in the way the European insurance industry looks at risk and risk management practices, as it will force the convergence of all aspects of risk quantification with those of business decision making. All businesses that have operations, subsidiaries or affiliates in Europe, write coverage in Europe or do business with insurers in Europe should be preparing now for these wide-ranging changes.
Navigating the A.M. Best Supplemental Rating Questionnaire Changes: Recent changes related to the A.M. Best Supplemental Rating Questionnaire (SRQ) will have a sweeping impact on U.S. property and casualty insurers. Respondents are facing new questions regarding enterprise risk management (ERM), new considerations for workers compensation coverage, and the release of the new version 11 of the RMS RiskLinkTM model, all of which will factor into a company’s A.M. Best rating.
According to Excellence in Risk Management VIII: Greater Expectations, Greater Opportunities, a new survey conducted by Marsh and the Risk and Insurance Management Society (RIMS), executives in the C-suite expect risk managers to step up and take a more active role in integrating enterprise-wide risk management with their organizations’ broader strategic goals.
Tom Davies, Deputy Head of Bowring Marsh London
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Bowring Marsh is the International placement arm of Marsh, where we advise our global network and clients on direct, market based solutions, predominantly for property and casualty exposures. The vast majority of our clients are sophisticated, risk management buyers with an emphasis on global, multinational businesses.
