Posts Tagged ‘Property’



December 13th, 2018

Europe Experienced Increased Cyberattacks in the First Half of 2018

Posted at 1:00 AM ET

banner-image_editedhmj-500x500Estimates suggest that the number of cyberattacks across Europe increased by around a third in the first quarter of 2018, compared to the same period last year, according to the recent World Economic Forum (WEF) report Regional Risks for Doing Business 2018.

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December 10th, 2018

Cost of Capital and its Use in Valuing Reinsurance

Posted at 1:00 AM ET

Increasingly, reinsurance is seen as an important element of capital management. Reinsurance decisions are moving away from the reinsurance buyer and towards the finance teams. These teams need to find a way of comparing reinsurance in a straightforward way. Defining the cost of capital for reinsurance means that it can be compared with other capital sources.

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December 5th, 2018

Ensuring innovation is more than a cliché

Posted at 1:00 AM ET

bentley_rob_150x150The numerous challenges the insurance industry faces mean that innovation is critical to tackling them. Rob Bentley, Chief Executive Officer of Guy Carpenter’s Global Strategic Advisory, describes how Guy Carpenter is helping its clients manage these challenges—especially the conundrum of InsurTech, in an interview that appeared in Intelligent Insurer magazine.

Rate pressure, lower investment income, emerging risks, evolving technologies, new capital sources and regulatory changes are creating an environment in which earnings and growth are impacted. How do companies find opportunity in such conditions?

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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

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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 29th, 2018

Asia Pacific: Cyber Dependency and the Increased Frequency and Sophistication of Cyberattacks

Posted at 1:00 AM ET

_offset_472526_smallIncreasing dependence on technology by businesses and cities in Asia Pacific leads to two major implications for the region, says a study by the Asia-Pacific Risk Center of Marsh & McLennan Companies, Guy Carpenter’s parent company.

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November 28th, 2018

Terrorism: Reinsurance Role in Mitigating the Expanding Peril

Posted at 1:00 AM ET

terrorism_121x120aMore than ever before, brokers and underwriters must use their expertise and solutions to keep insurers and citizens adequately protected. Continue reading…

November 27th, 2018

Cyberattacks Top the List of Risks in North America

Posted at 1:00 AM ET

banner-image_editedhmj-500x500For business executives in the United States and Canada, cyberattacks are now the number one risk to doing business, according to the recent World Economic Forum (WEF) report Regional Risks for Doing Business 2018.

Jeremy S. Platt, Managing Director and Cyber Solutions Specialty Practice Leader at Guy Carpenter, says: “2017 was an important year in cybersecurity because businesses around the globe learned firsthand how far-reaching and devastating a cyberattack can be on a business. Last year, WannaCry and Petya/NotPetya proved the speed and breadth at which cyberattacks were able to cause widespread disruption, damages and loss at magnitudes not previously considered.”

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November 26th, 2018

Terrorism: The Need for Expanded Capacity

Posted at 1:00 AM ET

terrorism_121x120aTerrorists are increasingly able to modify, adapt and reinvent their tactics and quickly spread their methodologies to their worldwide support base. Economically, the effect of this change across the globe has been significant. Tourism, trade and investments are examples of areas affected as countries grapple with terrorist actions, both direct and indirect. According to the Institute for Economics and Peace, although the peak of global economic impact from terror events was reached in 2014, it remains at historically high levels.

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