CAT-i Bulletin: Recent Tornado Activity – Southern Plains: A severe thunderstorm outbreak affected portions of the Southern Plains and Central Mississippi Valley from the evening of October 20th through the morning of October 21st.
Carriers Must Carve Out Distinctive Strategies to Maximize their Potential for Success: Guy Carpenter has completed its annual review of property and casualty (P&C) results and found that competition and change are the only certainties (re)insurers are promised in today’s market.
Silent Cyber: Solutions Emerge Amid the Uncertainties: Silent cyber, also known as unintended or non-affirmative coverage, refers to the potential cyber exposures contained within traditional property and casualty insurance policies, which may not implicitly include or exclude cyber risks. Unlike specialist standalone cyber insurance, which clearly defines the parameters of cyber coverage, traditional insurance policies were not designed with cyber exposures in mind.
Baden-Baden Reinsurance Symposium Examines (Re)insurance Market Opportunities Generated by Industry 4.0: Guy Carpenter hosted the Reinsurance Symposium in Baden-Baden on October 20, 2019. The eleventh year that Guy Carpenter has hosted the event, the Symposium posed the question: “Is the (re)insurance sector ready for Industry 4.0?”
A Changing Climate: Climate change has long been a topic of considerable debate. Its profile has been raised further recently by two key developments: first, the occurrence of several high profile losses where climate change may have played a contributory role (for example, the California wildfires) and second, regulatory initiatives, particularly in Europe, to stimulate the industry’s focus on this area.
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IFRS 17 and the Value of Reinsurance: An Opportunity in the Challenge: International Financial Reporting Standard (IFRS) 17, issued by the International Accounting Standards Board, is the new financial reporting standard for insurance contracts that will replace the current rules of IFRS 4 and will become effective on January 1, 2022. IFRS 17 will impact the insurance value chain far beyond the areas of actuarial modeling and financial reporting.