Posts Tagged ‘risk management’



June 22nd, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV

Posted at 1:00 AM ET

aidan-pope-headshot-sm25Aidan Pope, Managing Director

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Mexico’s risk management strategy has earned a strong reputation in the international community. The World Bank said it is “at the vanguard of initiatives aimed at the development of an integrated disaster risk management framework, including the effective use of risk financing and insurance mechanisms to manage the fiscal risk derived from disasters,” highlighting it as an example for other governments to follow (1).

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June 21st, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part III: A Lesson in Resilience from Mexico

Posted at 1:00 AM ET

aidan-pope-headshot-sm24Aidan Pope, Managing Director

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The Mexican federal government’s risk management strategy exemplifies a modern, resilient disaster preparedness plan, including pre- and post-event approaches and public-private partnerships. Following the 1985 Mexico City earthquake, the Mexican National Civil Protection System (SINAPROC) was created, establishing a multi-level system to integrate stakeholders from the three levels of government, the private and social sectors, academia and scientific organizations. Its purpose was to provide an institutional framework for the improved coordination of emergency response. Its capacities in the areas of risk assessment, early warning, preparedness and disaster risk financing were developed. As SINAPROC evolved, it added risk reduction practices to shift from a reactive to a preventative, holistic and integrated risk management plan.

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June 20th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part II

Posted at 1:00 AM ET

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Aidan Pope, Managing Director

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Many recent catastrophe events in the Latin America/Caribbean region provide examples of the protection gap: Only 5 percent of the USD 8 billion economic loss from Haiti’s 2010 earthquake was insured; and the insured portion of the USD 2 to 3 billion economic loss caused by the April 2016 earthquake in Manta, Ecuador, is expected to reach no more than 15 percent. The 2016 earthquake has deeply impacted the local economy and government finances as unemployment increased by approximately 50 percent and the government was compelled to increase sales taxes by two percent to fund national reparation and recovery costs. In general, emerging markets face a much larger protection gap than developed economies:

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June 19th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part I

Posted at 1:00 AM ET

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Aidan Pope, Managing Director

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Globally, three of the ten most costly natural disaster events in the last 35 years occurred in total or in part in the Latin America/Caribbean (LAC) region (1); losses from Hurricane Matthew in the Caribbean are still being assessed.

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June 16th, 2017

Cyber Risk Pervades All Classes, But Creates Huge Industry Opportunity, Says Motta; MMC Young Professionals’ Global Forum 2017

Posted at 4:30 AM ET

Cyber risk likely will become the single most pervasive risk that society faces, maybe even more so than climate change, according to Joshua Motta, co-founder and CEO of Coalition.

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June 15th, 2017

Analytics: Fueling Risk-Informed Decisions: Part III: Strategic and Risk Capital Management

Posted at 1:00 AM ET

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Tim Gardner, President, North America

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Insurers who rely on strategic risk and capital management analytics to optimize their return on capital require a proactive capital management strategy that is in line with Own Risk and Solvency Assessment (ORSA), rating agency objectives and/or management’s internal capital adequacy benchmarks. To support this objective, a wide variety of tools and solutions are available to help measure capital adequacy - from deterministic models to licensable enterprise-level dynamic financial modeling solutions that advance a company’s ability to measure risk, profit and capital to optimize returns.

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June 14th, 2017

Analytics: Fueling Risk-Informed Decisions: Part II: Portfolio Analytics

Posted at 1:00 AM ET

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Tim Gardner, President, North America

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With robust portfolio analytics, including advanced actuarial and catastrophic risk modeling, insurers are able to manage portfolio risk with confidence. Notable new portfolio-based models are being used for emerging areas such as casualty catastrophe and cyber risk assessment. Significant advances in sub peril modeling, such as for flood, have also transformed previously non-modeled perils into modeled perils, greatly improving knowledge and underwriting decisions in many regions.

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June 13th, 2017

Analytics: Fueling Risk-Informed Decisions: Part I

Posted at 1:00 AM ET

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Tim Gardner, President, North America

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Today’s rapidly changing global environment presents insurers with many challenges and opportunities as capital management and risk transfer techniques evolve at an unprecedented pace. Stakeholders, regulators and ratings agencies are deepening their focus on risk management practices, and revolutionary developments in technology, including the Internet of Things and hyper-connectivity, are driving companies to adapt to the challenges that senior management faces to support risk management decisions material to their business.

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June 6th, 2017

The Challenge in Applying Models Effectively

Posted at 1:00 AM ET

Here we review GC Capital Ideas posts about how (re)insurers are utilizing model applications to improve their understanding of their risk exposure.

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May 31st, 2017

Public-Private Sector Initiatives Address Catastrophe Risk Exposure

Posted at 1:00 AM ET

Here we review recent GC Capital Ideas posts about public-private sector initiatives working to help alleviate the strain on the public balance sheet post catastrophe event.

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