Emerging From the Shadows: Casualty: Casualty (re)insurance is often overshadowed by developments in property lines. As the last two years have shown, the human impact and devastating damage caused by catastrophes such as hurricanes, typhoons, wildfires and earthquakes tend to dominate the headlines.
Baden Baden: GC@BB Commentary Roundup: Here we highlight the most popular stories among our GC@BB series, which featured our review of critical issues shaping the reinsurance industry. These were the focus of discussions at the recent Baden Baden Reinsurance Symposium, which was hosted by Guy Carpenter.
Chart: Significant Insured Losses – 2011 to Q3 2019: Chart exhibits the significant insured losses from 2011 through the third quarter of this year. Insured loss for the third quarter 2019 is approximately USD 17-19 billion. This quarter’s insured loss is mainly driven by two major events: Typhoon Faxai in Japan and Hurricane Dorian.
Cyberattacks Are Top Concerns Among Business Leaders in the Largest EU Economies: Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that concerns about “cyberattacks” are top among business leaders in the four largest European Union (EU) economies: Germany, France, Italy and the United Kingdom; and rank first in another six countries across the continent.
2019 Asia Pacific Catastrophe Reinsurance Report: Guy Carpenter has released its 2019 Asia Pacific Catastrophe Reinsurance Report. The report reviews property catastrophe cover trends; market conditions, including losses and pricing; and catastrophe events in each of the major Asia Pacific countries during 2019.
And, you may have missed ….
The Burning Issue: Managing Wildfire Risk: In recent years, countries such as Canada, the United States, Spain, Portugal, Greece and Chile have experienced unusually severe fires, claiming hundreds of lives and causing billions of dollars in damage. Wildfires have also broken out in countries previously unaccustomed to the problem. In 2018, for example, northern European countries experienced between 20 and 200 times more area burned than normal.