Posts Tagged ‘US’



June 15th, 2017

Insurance Industry Ripe for Disruption, Says VJ Dowling; MMC Young Professionals’ Global Forum 2017

Posted at 4:30 AM ET

The insurance industry will be profoundly disrupted by technological change, Vincent J. Dowling Jr., Managing Partner of Dowling & Partners Securities LLC, told attendees at MMC’s Young Professionals’ Global Forum in London.

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June 12th, 2017

GC Capital Ideas CAT-i Stories: For First Half, 2017

Posted at 1:00 AM ET

Here is a look back at the CAT-i stories covering January through mid-June of 2017.

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May 10th, 2017

Guy Carpenter Hosts International Forum: Building Sustainable Flood Insurance Solutions

Posted at 10:30 PM ET

Guy Carpenter & Company hosted an international forum entitled “Building sustainable flood insurance solutions” in Berlin on May 9-10. The event brought together leading figures from science and academia, non-governmental organizations and the (re)insurance industry to examine the rapidly growing impact of flooding and explore measures to significantly reduce that impact.

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May 4th, 2017

Midwestern United States Flood/SCS Event, April 28 – May 4

Posted at 2:36 PM ET

gen-significant-flood-april-28-may-4-sm

A significant severe thunderstorm outbreak with heavy rainfall has affected areas from the Southern Plains to the Great Lakes and Northeast, with historic flooding in parts of the Central Mississippi Valley. Significant rainfall amounts of over ten inches occurred over saturated soils of the Central Mississippi Valley and surrounding watersheds. The rainfall produced historic flooding on some rivers, and the Mississippi River itself is expected to approach record flood stage at Cape Girardeau over the coming days. Flood impacts have been locally severe and include reports of property damage, numerous road closures, evacuations and water rescues. A levee breach has forced evacuations near Pocahontas, Arkansas.

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February 28th, 2017

Coming Together for Healthcare Reform

Posted at 1:00 AM ET

Approximately 177 million Americans receive healthcare coverage from their employers, and in 2015, U.S. employers collectively spent USD 668 billion on health benefits, outpacing federal spending on Medicare.

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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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