Modeling Insights: Here we review recent GC Capital Ideas posts covering insights on modeling.
Environmental Risks Are the Leading Concerns for Doing Business Across East Asia and the Pacific: Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that environmental risks are the leading concerns for doing business across East Asia and the Pacific, with “natural catastrophes” ranking first and “extreme weather events” ranking fifth. The concerns about “natural catastrophes” were heavily driven by responses from Japan and New Zealand, where they ranked first, while in Indonesia and the Philippines they ranked third.
Parametric Risk Transfer – When Does It Make Sense? Parametric insurance provides cover for predetermined catastrophic natural events such as an earthquake exceeding a certain magnitude, a hurricane producing a certain wind speed at a location, or a flood reaching into certain areas. The insured buys a predefined amount of protection that will pay out based on predefined terms regardless of the actual loss incurred.
Workers Compensation Is About to Be Transformed: Workers compensation is the largest premium segment in the U.S. commercial insurance market. Workers compensation, mandated by law in 49 U.S. states to provide employer reimbursements for injuries occurring in the course of employment, represents one of the largest nondiscretionary expenses for labor-centric firms.
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 20 through the morning of October 21. The outbreak produced several tornadoes including an EF-3 affecting the Dallas, Texas area as well as another EF-1 crossing parts of Memphis, Tennessee. Clustered reports of damaging straight-line winds and significant hail were also reported.
And, you may have missed ….
Carriers Must Carve Out Distinctive Strategies to Maximize their Potential for Success: Guy Carpenter has completed its annual review of property and casualty results and found that competition and change are the only certainties (re)insurers are promised in today’s market.
