CAT-i Bulletin: Hurricane Lorena: In the East Pacific Basin, Hurricane Lorena affected the Pacific Coast of Mexico south of Puerto Vallarta before approaching the Baja California Peninsula as a category-1 hurricane over the weekend. Initial media reports indicate some flooded homes and roadways along with some property damage due to wind for affected areas.
The Changing Nature of Risk: Today, the (re)insurance sector operates in a rapidly changing and uncertain world. Elevated levels of VUCA – volatility, uncertainty, complexity and ambiguity – are unlikely to relent any time soon. In fact, the impending degree of change over the next decade looks set to transform the risk landscape like never before, according to Rob Bentley, CEO, Global Strategic Advisory, Guy Carpenter & Company.
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 report, “Looking Beyond the Clouds: A U.S. Cyber Insurance Industry Catastrophe Loss Study,” examined some of the key drivers of cyber catastrophe scenarios and provided a data-driven view on the potential insured loss figures for the standalone cyber insurance market.
Do Real-Time Event Loss Estimates Inform Model Fitness? Catastrophe model vendors release tools to support assessment of portfolio losses following significant industry events. Guy Carpenter’s general observation is that there are more underestimations than over estimations of events, globally. In this series, we explore this bias and address its relationship to model fitness, according to Imelda Powers, Senior Cat Management Advisor – Asia Pacific, Guy Carpenter.
Managing Employees Amidst Digital Transformations: While the digital revolution is already underway in most organizations, it is yet to have the kind of impact, positive or negative, that many predicted. As such, most organizations have not yet adopted any design or implementation strategies that would truly leverage the digital revolution by increasing productivity and work outcomes.
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Monte Carlo: GC@MC Commentary Roundup: Here we highlight the most popular stories among last week’s GC@MC series, which featured our review of critical issues shaping the reinsurance industry that were the focus of discussions at the Rendez-Vous de Septembre.