Posts Tagged ‘Marsh’



June 25th, 2019

U.S. Terrorism Risk Backstop Up for Renewal in 2020

Posted at 1:00 AM ET

The federal backstop created by the Terrorism Risk Insurance Act (TRIA) and reauthorized as TRIPRA - along with similar public-private mechanisms that exist in other countries - remains crucial to the continued stability and health of the property terrorism insurance market.

As TRIPRA’s expiration on December 31, 2020 approaches, Marsh & McLennan Companies colleagues have spoken with Treasury Department officials and legislators in both chambers of congress, who generally recognize TRIPRA’s importance and appear optimistic about its extension.

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June 20th, 2019

One-Year Anniversary of the GDPR: A Look Back and Ahead

Posted at 1:00 AM ET

When the European Union’s General Data Protection Regulation (GDPR) took effect in May 2018, it signaled the start of more aggressive privacy oversight and enforcement in an era of rapidly advancing technology. The diversity and scope of enforcement actions, and the intersection of data privacy regulation with technology, are likely to pose increasing challenges for regulators and for businesses.

This briefing from Guy Carpenter affiliate Marsh describes where we are one year later as the convergence of GDPR and other data privacy regulation with evolving technology - 5G networks, IoT, AI, the Cloud - will challenge businesses’ ability to foster technology innovation while also protecting privacy.  Businesses should expect the EU to take an active approach to AI’s consumption and processing of personal data, especially when it distinguishes individuals based on race, gender, political beliefs or other sensitive categories, even where the consequences are unintentional.

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June 17th, 2019

2019 Terrorism Risk Insurance Report

Posted at 1:00 AM ET

Terrorism remains a dynamic global risk and a serious threat for people and organizations. The evolution of terrorism risk exposes many countries to complex threats from both international and home-grown groups, as well as individuals acting on their own, known as “lone wolves.” And the evolution of terrorism risk in recent years challenges risk professionals to adopt new strategies to protect properties, employees and balance sheets.

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June 5th, 2019

The 2019 Captive Landscape

Posted at 1:00 AM ET

The number of organizations and risk professionals embracing captives as a tool to secure their future continues to grow, according to Marsh’s 2019 Captive Landscape report.

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May 30th, 2019

Global Insurance Pricing Rises in First Quarter of 2019

Posted at 1:00 AM ET

dean_kisura_hsDean M. Klisura, President, Global Placement, Marsh

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Average insurance pricing in the first quarter of 2019 in the United States increased by 1.1 percent, year over year. Property pricing increased 4 percent and has now increased each quarter since the fourth quarter of 2017, a period marked by catastrophe losses that included an above-average North American hurricane season. Large, multilayered property programs (those with gross written premium greater than USD 1 million) led the pricing increases, up nearly 7 percent.

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May 21st, 2019

What Is the Future of Alternatives to Traditional Insurance Markets?

Posted at 1:00 AM ET

Brian C. Elowe, Chief Client Officer for Marsh North America

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There’s been much discussion in risk finance circles over the past decade about alternatives to traditional insurance markets. Much of the focus has been on the provider side - the pension funds, sovereign wealth funds and other investors that provide the capital behind so-called alternative risk transfer (ART) solutions.

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May 20th, 2019

Finding the Elusive Cyber Loss Curve Can Pay Big Dividends for Financial Institutions

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallWhat is the likelihood that your organization will experience a material cyber event in the next 12 months? Is the risk greater than 50 percent? Less than 25 percent? These questions are ever-present on the minds of risk managers, who long for at least a practical - if not precise - answer.

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April 23rd, 2019

NotPetya Was Not Cyber “War”

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallNotPetya wreaked havoc for some large companies, costing them billions of dollars in lost revenue, damaging computer systems, and requiring significant expense to restore global operations. In its wake, entire industries reassessed their practices for patching, business continuity, supply chain interruption, and more.

Since the NotPetya event, we have learned much about the attack, but many details remain elusive. One continuing discussion for the insurance industry, however, is whether NotPetya was “warlike” - and more specifically, whether the ubiquitous war exclusion found in cyber insurance policies could have prevented coverage. A recent Wall Street Journal article described this as “a multimillion-dollar question for companies that purchase cyber insurance.”

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April 8th, 2019

Amid Regulatory Scrutiny Financial Institutions Must Monitor Third-Party Cyber Risk

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallCybersecurity ranks among the top concerns for banks, insurers, and other financial institutions, which can represent prime targets for cyber-attackers and be vulnerable to potential disruptions because of their often-complex technology systems and the valuable financial assets and rich customer data they can hold.

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