Hurricane Dorian – Confidence Increasing for Florida Landfall as a Major Hurricane: Weather models are raising confidence and concern that Hurricane Dorian will make an eastern Florida landfall as a major hurricane, between late Sunday and early Tuesday, of the coming Labor Day weekend. Several critical aspects of the forecast that are being analyzed to gain further confidence in Dorian’s track and potential impact to Florida are discussed. Additionally, a discussion of historical analogs to Dorian is examined as well as other implications of the forecast, regardless of ultimate landfall.
Chart: Significant Insured Losses – 2011 to Q2 2019: Chart exhibits the significant insured losses from 2011 through the second quarter of this year. First-half 2019 losses are at levels below those experienced in first-half 2017 and 2018.
What Is Changing in the U.S. Healthcare Reinsurance Market? Traditionally, healthcare reinsurers offered a robust model to customers, with additional services including claims analysis, access to vendor contracts in high-cost, specialty areas like organ transplant or dialysis, nurse hotlines, pre-natal teams and general expertise on “who to call” regarding specific claimant issues. Low loss ratios — around 65-75 percent — and high levels of client retention not only enabled, but also justified, those auxiliary services and let them take on a high expense load while maintaining a profitable business, according to Phillip Barker, Managing Director, Healthcare Practice, Guy Carpenter.
Guy Carpenter Selected by CEA on Wildfire Fund Reinsurance and Risk Transfer Program: Guy Carpenter & Company announced its appointment as the sole reinsurance intermediary for the newly formed California Wildfire Fund, which is currently being administered by the California Earthquake Authority.
United Kingdom Will Face Labor Shortages in a Post-Brexit World: Profound demographic shifts are shrinking the global supply of workers with surprising speed. Post-Brexit, a points or quota system seems likely to control migration to the United Kingdom. Coupled with the demographic changes, this could create significant challenges for the U.K. labor force.
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Terrorism Risk in Europe: The threat of Islamist extremism remains high in Europe, driven in part by radicalized individuals returning from fighting in Iraq and Syria. Religious extremist attacks in the E.U. will likely target the entertainment and hospitality sectors and public spaces frequented by tourists, according to the 2019 Terrorism Risk Insurance Report, from Guy Carpenter affiliate, Marsh.