Posts Tagged ‘risk management’



September 26th, 2016

Increasing Confidence and Transparency in Your Catastrophe Risk Decisions: Part II

Posted at 1:48 AM ET

thomas_sherry_sm1james-burnett-herkes-sm1Sherry Thomas, Head of Catastrophe Management - Americas and James Burnett-Herkes, Senior Vice President

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Model Suitability Analysis (MSA)® consists of a set of standard tests and protocols that benchmark the models against independent reference data for hazard, event frequencies, damage functions, losses and historical experience. These datasets are created by independent and credible third-party research institutions that have expertise in the respective subjects. Rather than reinventing the wheel and developing models that already exist, the MSA approach evaluates the scientific underpinnings of existing models to establish confidence where warranted, and to identify areas of uncertainty. Guy Carpenter aggregates this information into our MSA Knowledge Base, and establishes standard protocols that are efficient to execute and test all models using the same standard procedure to achieve homogeneity and fairness in the process.

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September 22nd, 2016

Increasing Confidence and Transparency in Your Catastrophe Risk Decisions: Part I

Posted at 1:00 AM ET
thomas_sherry_sm1james-burnett-herkes-sm1Sherry Thomas, Head of Catastrophe Management - Americas and James Burnett-Herkes, Senior Vice President

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Could you afford to find that the portfolio you just acquired in North Carolina is more exposed to hurricane than previously assumed? What if next year’s Category 2 hurricane caused a loss in excess of 15 percent of your policyholders’ surplus?  How will the changes in the U.S. Geological Survey National Seismic Hazard Maps impact your exposure to earthquake risk in the central and eastern United States?

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September 21st, 2016

Recognizing the Exposure Gap in Public Sector Risk

Posted at 1:00 AM ET

Here we review GC Capital Ideas posts on the private sector closing the protection gap with public sector risk exposure.

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September 13th, 2016

Cat Modelling Challenges In Europe

Posted at 1:00 AM ET

weatherhead_mark-smMark Weatherhead, Head of Model Development - International

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2016 marks the 60th year of the Monte Carlo Rendez-Vous. Since the first event in 1957 the insurance world has changed significantly, with economic and insured losses from natural catastrophes such as floods and hurricanes increasing dramatically.

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September 13th, 2016

Industry Must Expand Terrorism-Related Cover - GC@MC Commentary

Posted at 12:00 AM ET

emma-karhan-smEmma Karhan, Managing Director

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Recent Shift in Terrorist Focus to Economic Upheaval Requires Expanded Business Interruption Cover

In the wake of recent terror-related attacks, the insurance industry must expand its role of supporting the financial resilience of economies. This includes further clarifying the industry’s position alongside government-sponsored terrorism pools, according to Emma Karhan, Managing Director, Guy Carpenter. Continue reading…

September 12th, 2016

Solvency II: Greater Risk-Driven Management

Posted at 1:00 AM ET

andrew-cox-95eagle_matthew-smeddy-vanbeneden-sm21 Andrew Cox, Managing Director; Matthew Eagle, Head of GC Analytics - International and Eddy Vanbeneden, Managing Director

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On January 1, 2016, the Solvency II regulatory regime took effect. Some celebrated; others were weary from the months and years of preparation.

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September 12th, 2016

Managing Volatility Key To Solvency II Transition - GC@MC Commentary

Posted at 12:00 AM ET

paire-eric-smEric Paire, Head of Global Partners & Strategic Advisory, EMEA

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Movement Within Capital Ratios Leading to Uncertainty Amongst Mid-Size Companies

The impact of the Solvency II capital ratio on composite life and property/casualty balance sheets is proving more substantial than some companies initially expected, according to Eric Paire, Head of Global Partners & Strategic Advisory, EMEA at Guy Carpenter. This development is due to the double impact of market volatility and volatility within the solvency ratio itself.

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September 11th, 2016

“Visual Intelligence” Critical To Advancing Response Capabilities Globally – GC@ MC Commentary

Posted at 3:00 AM ET

beverley-adams-sm2Dr. Beverley Adams, Head of Catastrophe Planning & Response

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Industry Must More Effectively Harness Potential of Satellite, Drone and Aerial Technologies

Advances in the development of  ”visual intelligence” based on multiple data sources including satellite imagery and drone footage have the potential to significantly enhance claims and CAT response processes and underwriting decision making when companies harness that potential effectively, according to Dr. Beverley Adams, Head of CPR (Catastrophe Planning & Response) at Guy Carpenter.

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September 11th, 2016

Disruptive Forces Redefining The Role Of Insurance - GC@MC Commentary

Posted at 12:00 AM ET

vicky-carter-smVictoria Carter, Vice Chairman, International Operations

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Industry Must Adapt and Innovate to Fully Grasp Opportunities

A series of fundamental disruptive forces are driving monumental changes in the global economy at an unprecedented rate. These forces compel the (re)insurance industry to adjust to the new reality and capitalize on the opportunities created, according to Victoria Carter, Vice Chairman of International Operations at Guy Carpenter.

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September 8th, 2016

Self-Driving Automobiles

Posted at 1:00 AM ET

Technologies that we may take for granted today such as anti-lock braking and airbag systems, driving and parking assistance, hazardous condition traction control and global positioning system routing, may soon all come together and evolve into fully autonomous self-driving automobiles. Self-driving cars are expected to begin commercial production and be in use by 2017. Google, the pioneer in the field, claims it can cut road accidents by eliminating the human driver who gets distracted by text messages or becomes tired. Although safety and efficiency gains have been the most cited and prominent benefits for the rationale for the development of self-driving automobiles, a considerable number of challenges remain.

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