Posts Tagged ‘Property’



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

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  • 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 Continue reading…
October 23rd, 2018

Closing the Gap: Public Sector Risk Financing Solutions Increase Community Resiliency - GC@BB Commentary

Posted at 1:00 AM ET

clark_jonathan-headshotJonathan Clark, Head of Public Sector Specialty, U.S.

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  • Only 33 percent of economic disasters are alleviated through (re)insurance
  • Recent functional risk transfer mechanisms use advances in data, analytics and modeling
  • Guy Carpenter and GC Securities* are working with over 100 public entities around the globe Continue reading…
October 22nd, 2018

MGAs – Value at What Cost? - GC@BB Commentary

Posted at 9:00 AM ET

carter_vicky_bio2016Vicky Carter, Vice Chairman – Global Strategic Advisory

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  • Value proposition of MGAs under increasing scrutiny
  • Automation critical to maintaining low cost base
  • Remuneration on profit vs commission fees Continue reading…
October 22nd, 2018

Baden-Baden Reinsurance Symposium Explores Market Impact of Global (Re)insurance Composites

Posted at 2:00 AM ET

Guy Carpenter hosted the Reinsurance Symposium in Baden-Baden on October 21, the 10th year that Guy Carpenter has hosted the event. The theme of the Symposium was “Back to the past: a return to global composites.” Continue reading…

October 18th, 2018

Leading Cyber Insurance Strategies

Posted at 1:00 AM ET

Insurers are undertaking several initiatives to seize opportunities in writing network security and privacy insurance in order to achieve profitable growth. These are some of the actions on which they are focusing:

  • Dedicated Expertise: Insurers are creating dedicated cyber units that utilize their insurance expertise from the property and liability side by blending them to match both first and third party insuring agreements Continue reading…
October 15th, 2018

Real-Time Risk Management and Next-Generation Insurance

Posted at 1:00 AM ET

john_drizik_2John Drzik President, Global Risk and Digital at Marsh

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A confluence of trends is enabling businesses and the insurance industry to move toward a revolutionary new approach: real-time risk management.

Managing risk in real time offers the potential to both reduce risk and transfer it more effectively. It means businesses can have an up-to-the-minute view of their changing risk exposures—and take actions to mitigate them—and that the insurance industry no longer needs to rely only on historical data to price risk. Continue reading…

October 13th, 2018

Hurricane Michael

Posted at 11:11 AM ET

michael-smallHurricane Michael 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. Damage due to wind has caused roof and wall collapse, especially for cinderblock construction and even commercial properties. Some coastal areas of Mexico Beach have been scoured to the foundation by storm surge and wave battering. At least twelve fatalities have been reported by media, although this number could rise as damage survey and search and rescue efforts continue. Our thoughts and concerns are with those lost and directly affected by this event. Hurricane Michael is the strongest hurricane to affect the Continental U.S. since Hurricane Andrew (1992).

Continue reading…

October 11th, 2018

Healthcare & Cyber Risk – Takeaways

Posted at 1:00 AM ET

We conclude the series on Healthcare & Cyber Risk by listing the five key takeaways from the study Holding Healthcare to Ransom by Marsh & McLennan Companies Asia Pacific Risk Center. Continue reading…

October 8th, 2018

Healthcare & Cyber Risk – Cyber Insurance to Manage Exposure

Posted at 1:00 AM ET

holding-healthcare-to-ransom-cover-image-6Key risks that healthcare organizations face today include patient data exposure, shared system data exposure and employee exposure. Recognizing that cyber risks cannot be eliminated, healthcare organizations are beginning to look to insurance or cyber risk transfer programs as a way to shift the risks, not just as a solution for balance sheet protection but also for contractual evidence and compliance. (1)

Prompted by the wave of high-profile attacks and new data protection rules, annual gross written cyber insurance premiums have grown by 34 percent per annum over the past seven years. (2) The European Union Agency for Network and Information Security has also found a positive correlation between cyber insurance takeup and the level of preparedness, (3) and healthcare organizations are only beginning to recognize this. Continue reading…