Posts Tagged ‘US’



February 21st, 2017

Solvency II Equivalence In The International (Re)insurance Landscape: Part III: The US and Solvency II Equivalency

Posted at 1:00 AM ET

andrew-cox-952graham-jones-102x1172lobel_myra-sm-1172eddy-vanbeneden-sm-1172sumner-sm-1172Andrew Cox, Managing Director; Graham Jones, Senior Vice President; Myra E. Lobel, Managing Director; Eddy Vanbeneden, Managing Director and Steven Sumner, Oliver Wyman, Actuarial Consulting

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Separate but related negotiations continue between the EC, European Insurance and Occupational Pensions Authority, and in the United States, the National Association of Insurance Commissioners (NAIC) and the Federal Insurance Office (FIO).

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February 20th, 2017

Solvency II Equivalence In The International (Re)insurance Landscape: Part II

Posted at 1:00 AM ET

andrew-cox-951graham-jones-102x1171lobel_myra-sm-1171eddy-vanbeneden-sm-1171sumner-sm-1171Andrew Cox, Managing Director; Graham Jones, Senior Vice President; Myra E. Lobel, Managing Director; Eddy Vanbeneden, Managing Director and Steven Sumner, Oliver Wyman, Actuarial Consulting

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The Solvency II Directive sets out three distinct areas for equivalence:

  1. Reinsurance
  2. Group Solvency
  3. Group Supervision

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February 8th, 2017

Southern U.S. Severe Thunderstorms

Posted at 2:11 PM ET

us-local-storm-reports-february-7-2017-smA severe thunderstorm outbreak has affected areas from Louisiana to Kentucky to Florida. Several tornadoes have been reported in Southeast Louisiana, Mississippi and Florida. This includes a probable EF-3 tornado affecting the East New Orleans area, according to media reports. Significant property damage has been reported for several areas, with especially severe impacts for the East New Orleans tornado. Downed trees and powerlines with light to moderate property damage have been reported for affected areas of the Florida Panhandle. At least 36 injuries and one fatality have been reported in the media. Rescue and damage survey operations are ongoing, and it is too early to ascertain the full scope and severity of this event. Our first thoughts and concerns are with those directly affected by this event.

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January 31st, 2017

Public Sector Risk Financing Perspectives – Terror Risk: Part III

Posted at 1:00 AM ET

emma-karhan-smEmma Karhan, Managing Director

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The (re)insurance industry needs to be more proactive in understanding and defining the boundary and extent of insured loss along with understanding the types of targets that have a higher probability of attack. Data in the Global Terrorism Database (1) identifies small businesses, retailers, tourist attractions and transportation hubs as increasingly likely targets, not iconic targets such as New York’s World Trade Center, in 2001. These smaller and less iconic targets are typically more vulnerable to the evolving type of terrorism attack (marauding arms, small explosives) that, while causing smaller direct physical damage and losses, still have the potential for significant contingent losses.

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January 23rd, 2017

U.S. SCS Outbreak January 20—22, 2017

Posted at 3:13 PM ET

us-local-storm-outbreak-jan-20-22-2017-local-report-sm1A significant severe weather outbreak has affected areas from East Texas to the Florida Peninsula to South Carolina. These severe thunderstorms were enabled in an especially favorable environment to produce reports of tornadoes, hail and nontornadic wind gusts. One significant tornado has been confirmed by the National Weather Service to affect areas of Hattiesburg, Mississippi. Probable significant tornadoes have also been reported in South Georgia. Significant property damage has been reported for areas affected by these tornadoes. Media reports also indicate downed trees and powerlines with light property damage in areas affected by other weaker tornadoes and nontornadic wind gusts. At least 19 fatalities have been reported by the media, and our first thoughts and concerns are with those directly affected by this event.

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January 17th, 2017

Further Considerations on the Hurricane “Shield” Theory

Posted at 1:00 AM ET

james-wallerJames Waller, Ph.D, Research Meteorologist

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A recent New York Times article titled “Conditions That Form More Hurricanes Also Protect U.S., Study Finds” (1) notes a hurricane “shield” for the U.S. coast during busy hurricane seasons. The article, based on recent research by James Kossin, (2) provides valuable insight, including some notes of caution from other experts in the field, but the observations should be treated with a moment of pause. Some key points to consider:

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December 19th, 2016

Public Sector Risk Financing Perspectives in the United States: National Flood Insurance Program (NFIP): Part I

Posted at 1:00 AM ET

day-2-headshot-jonathan_clark_april-2015-crop-sm21lorenz_cheryl_sm2Jonathan Clark, Managing Director and Cheryl Lorenz, Vice President

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In September 2016, the Federal Emergency Management Agency (FEMA) took the historic step of purchasing reinsurance for the National Flood Insurance Program (NFIP).

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November 30th, 2016

Sevier County Wildfires

Posted at 3:49 PM ET

sevier_county_wildfires-sm2Wildfire activity has rendered severe impacts to areas of Sevier County, Tennessee including the Gatlinburg and Pigeon Forge areas. The fire activity began late Sunday on Chimney Tops Mountain as a 10 acre fire that grew at an extreme rate Monday evening due to strong, gusty winds. Wind gusts well in excess of 60 mph carried embers a considerable distance to start new fires in extremely dry vegetation from recent drought. Gusty winds also brought trees down onto powerlines sparking new fires in surrounding dry vegetation.

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October 26th, 2016

Solvency II: An Era of Greater Risk-Driven Management

Posted at 1:00 AM ET

andrew-coxeagle_matthew-smeddy-vanbeneden-sm

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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October 11th, 2016

GC Capital Ideas Top CAT-i Stories for the Third Quarter, 2016

Posted at 1:00 AM ET

Here we review the top five CAT-i stories covering July through September of 2016.

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