Weather Sentinel: Significant Wildfire Potential Outlook; August 2019: Moving into the late summer, weather patterns are favoring seasonal dryness in the western United States, where moderate to severe drought is persisting in the Pacific Northwest, and fuels are drying out and becoming receptive to fire. While fire activity has been slightly below average to date in 2019, the outlook is for normal to above normal wildland fire potential in the western United States through late summer and fall, especially in California.
U.S. Organizations Continue to Purchase Terrorism Insurance at High Levels: The United States is the world’s largest buyer of terrorism insurance, and U.S.-based organizations continue to purchase coverage at a high rate. In 2018, the take-up rate for TRIPRA coverage embedded in U.S. property policies was 62 percent. Take-up rates have remained close to 60 percent over the last several years.
Governing Digital Transformation and Emerging Technologies: This joint report from the National Association of Corporate Directors (NACD) and Marsh & McLennan Insights, offers a new roadmap for successful corporate governance in the digital age. It draws from primary research conducted through interviews with company directors as well as a survey of 200 NACD members.
Different Captive Structures Offer Flexibility and Value: Single-parent, or pure, captives continue to be the primary structure for captive vehicles, accounting for more than two-thirds of captives globally. However, captive parents have a variety of options for structuring a captive entity. The 2019 Captive Landscape Report from Guy Carpenter affiliate, Marsh, reports on the stakeholder values derived from the different types of structures: single-parent, special purpose vehicle, cell captive, group captive and risk retention group.
Life Insurance Insights: Here we review recent stories on GC Capital Ideas that provide insights on the new paradigm around life reinsurance.
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Affirmative Versus Silent Cyber: An Overview: While the current debate over “affirmative” versus “non-affirmative” coverage has been ongoing for a few years, WannaCry and Petya/NotPetya cyberattacks helped make the issue of ”silent cyber” more critical. These two 2017 cyberattacks effectively shifted the conversation from data breach, notification costs and third-party liability to first-party liability insuring agreements due to the extent and expanse of the systematic, large-scale damages they triggered.