The Bluecut and Clayton fires have caused significant impacts to affected areas and pose an ongoing serious threat to life and property. No serious injuries or deaths have been reported, however, the fires have destroyed multiple structures. Our first thoughts and concerns are with those directly affected by this event.
Posts Tagged ‘US’
Here we review GC Capital Ideas posts on advancing technologies that are creating new opportunities and new risks for (re)insurers.
In the U.S. Northern Gulf States, a significant and historic flood event has affected areas of southern Louisiana and Mississippi. Flood impacts have been particularly severe in areas of Baton Rouge and Hammond, Louisiana. Media reports indicate at least six fatalities, several thousand water rescues and at least 2,700 homes affected. It will take some time to fully assess the scope and severity of impacts of this event, and our thoughts are with those lost and directly affected by this event.
Here we review GC Capital Ideas posts on the role of risk management in facilitating the progress of innovation and infrastructure improvement.
Predictive analytics or predictive medicine uses patient-specific data and enables a more customized, precise approach for patient-specific treatment. With the insight this provides, biotechnology, pharmaceutical and medical device companies can partner to provide better care, improve compliance, lower readmission rates and drive improved outcomes. This can lower unnecessary and ineffective treatments and decrease the overall cost of care. However, taken to an extreme scenario, life science companies could invest in developing much more specific treatments for very small cohorts of affected patients. These focused therapies could be extremely expensive and would be wildly impractical without the intersection of new technology and new economics.
Through the Affordable Care Act, many measures are being implemented that are expected to have a positive impact on bending the healthcare cost curve downward in the long term. However, the same act removed annual and lifetime limits for medical insurance claims. As a result, the maximum potential loss from a single individual is a new frontier of risk, with new heights being reached each year. This is both a frequency and severity issue.
Here are the most recent CAT-i stories covering January through June of 2016.
From one of GC Capital Ideas’ more popular categories, we highlight the top Chart Room stories viewed during the second quarter of 2016:
Here we review GC Capital Ideas posts on the challenges bringing the public and private sectors together to manage catastrophe risk exposure.
GC Securities* Completes Catastrophe Bond First Coast Re Ltd. on Behalf of Security First Insurance Company
GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of a single class of the Series 2016-1 Notes with principal amount of USD75,000,000 through the newly formed special purpose insurer domiciled in Bermuda, First Coast Re Ltd., to ultimately benefit Security First Insurance Company (”SFIC”) in SFIC’s first use of catastrophe bond-based reinsurance.