Weather Sentinel: Dorian Intensifies towards the Carolinas: Dorian regained major category 3 strength overnight as it tracks perilously close, if not over, the coast of the Carolinas this evening. If Dorian retains this strength to the coast, it will be the first category 3 hurricane to make landfall in the Carolinas since Fran in 1996. Peak perils of risk that carry high certainty include dangerous storm surge, heavy rainfall inducing inland flooding, tornadoes with rain bands, and sustained hurricane force winds in coastal regions of South and North Carolina.
Guy Carpenter and CyberCube Report Reveals Potential Impact of Cyber Catastrophe Scenarios on U.S. Cyber Insurance Industry: Guy Carpenter and CyberCube Analytics released the findings of a joint report that explores the size and shape of potential cyber catastrophes and the resulting financial impact on the U.S. cyber insurance market.
The Groundbreaking Science Impacting Large Medical Claims: The real drivers of multimillion dollar medical claims are likely to come in the innovative new treatments that are being developed right now. Understanding what is coming down the Food and Drug Administration (FDA)-approved pipeline is the first step towards being adequately prepared. With the prospect of more innovation driving high cost medical claims, insurers have options to help them prepare.
Amidst Global Growth, Medical Trends Lift Insurance Costs: Medical trends continue to outpace inflation by almost three times — the average global medical trend rate for 2018 was 9.7 percent, with a similar increase expected for 2019 and an even higher rate for 2020.
Asia Region Most affected by Rising Sea Levels: On a global scale, some cities are sinking faster than sea levels are rising, says the Global Risks Report 2019, which was produced by World Economic Forum with the support of Guy Carpenter’s parent company, Marsh & McLennan Companies. Asia will be the worst affected region as a result of a combination of hydrology, population density and asset concentration.
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Guy Carpenter Selected by CEA on Wildfire Fund Reinsurance and Risk Transfer Program: Guy Carpenter & Company today 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 (CEA).