Posts Tagged ‘Regulation’

March 19th, 2014

Increasing External Demands Compel Companies to Improve Risk Management Disclosures

Posted at 11:30 PM ET

Guy Carpenter released its latest Enterprise Risk Management (ERM) Benchmark Review that provides an in-depth analysis of risk management practices and policies of 67 insurance and reinsurance companies located in Europe, United States, Bermuda, and Asia-Pacific. Based on publicly-available data from financial and risk reports, Guy Carpenter’s ERM Benchmark Review reveals that most (re)insurers are managing capital with metric-based frameworks and are publishing more about their risk management targets than seen in Guy Carpenter’s 2009 analysis. Capital market, legislative, and regulatory influences, such as the approaching implementation of Solvency II, are expected to further compel company managements to better recognize and analyze the risks of their enterprises.

Continue reading…

October 21st, 2013

Baden-Baden Reinsurance Symposium Calls On Industry To Do More To Meet Client Needs

Posted at 12:10 AM ET

Guy Carpenter¬†hosted “Transferring Risk - Is the Insurance and Reinsurance Industry Adequately Serving its Clients?” the Reinsurance Symposium held in Baden-Baden on October 20, 2013. The event explored a range of topics including: the gap between economic and insured losses; how new capital entering the market can move beyond property catastrophe; and measures to provide coverage for new and emerging risks.

Continue reading…

October 3rd, 2013

Acing ORSA and Bringing it Home: Webinar Scheduled: October 10, 2013

Posted at 3:00 AM ET

The National Association of Insurance Commissioners’ (NAIC’s) Own Risk and Solvency Assessment (ORSA) goes into effect on January 1, 2015. Currently, many (re)insurers are in the process of developing and implementing their ORSA plans and approaches to the new regulation. They may be challenged over how much work has yet to be done and how best to do it. However, while some of the challenges are understandable, through “Business Management Integration” (BMI) there is an easier and more reliable way to approach this new regulation.

Continue reading…

July 8th, 2013

Guy Carpenter’s 8th Annual Specialty Insurance Program Issuing Carrier Survey

Posted at 1:00 AM ET

Guy Carpenter continues to provide the industry with our annual survey analysis of the current program marketplace from the program issuing carriers’ perspective.

Continue reading…

June 24th, 2013

Guy Carpenter Launches New Mutual Company Specialty Practice

Posted at 6:00 AM ET

Guy Carpenter announced the launch of its new Mutual Company Specialty Practice, which will focus exclusively on the unique needs of mutual insurance companies. The practice will consist of a team of seasoned professionals dedicated to helping mutual company clients protect their capital and grow profitably.

Continue reading…

May 16th, 2013

New Guidelines for Managing Product Recalls and other Corrective Actions in Belgium

Posted at 1:00 AM ET

Many of the products people use every day are made in foreign countries - from coffee makers produced in China to cars built in Germany to cell phones manufactured in India. While many of these products fulfill their purpose without any complications, there are others that cause problems for their users. A coffee maker might spill boiling water or a car’s airbag might not open properly. These problems can be caused by manufacturing errors or flaws in product design.

Continue reading…

April 17th, 2013

Chart: Countries Operating Compulsory or Optional Terrorism Pools

Posted at 1:00 AM ET

A summary of the compulsory and optional terrorism pools that operate around the globe.

Continue reading…

April 11th, 2013

Legislation Surrounding Insurance Covering Terrorist Acts

Posted at 1:00 AM ET

Here we review past GC Capital Ideas stories that have focused on legislation surrounding insurance covering terrorist acts.

Continue reading…

April 9th, 2013

Oliver Wyman Report: Recovery and Resolution Plans for Insurers

Posted at 1:00 AM ET

When banks in Europe and the United States become unable to honor their financial obligations in 2007 and 2008, governments bailed them out. But why? The standard answer is that politicians faced a terrible choice. They had to choose between saving insolvent banks largely “as is” in the short-term, or unleashing economic chaos. Recovery and Resolutions Plans (RRPs) are supposed to stop such a dilemma arising again.

Continue reading…

January 3rd, 2013

January 1, 2013 Renewals Bring Stable Reinsurance Pricing

Posted at 12:05 AM ET

141x141jan1Guy Carpenter reports that the reinsurance sector enters 2013 equipped with ample dedicated capital and stable pricing. In its 2013 global renewal report, The Route to Profitable Growth, Guy Carpenter finds that the January 1, 2013 renewals took place against a stable backdrop, with only loss-affected lines and select regions experiencing price volatility. The market was supported by a combination of factors including lower than normal catastrophe losses during the first nine months of 2012, new reinsurance capacity and record-high levels of capital.

Continue reading…