1. CAT-i Bulletin – Super Typhoon Hagibis: Typhoon Hagibis made landfall in Japan as a category-2 on the Izu Peninsula in the Shizuoka Prefecture on October 12 around 7 PM local time. Large stretches of the country were hit by strong winds and torrential rainfall, and the Japan Meteorological Agency issued warnings and advisories affecting all prefectures in the Honshū, Kyushu, Shikoku and Hokkaido Islands.
2. Chart – Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2019.
3. 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, according to Julian Alovisi, Head of Research and Publications, Guy Carpenter.
4. 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.
5. Chart – Significant Insured Losses from 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.
6. 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. 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.
7. 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.
8. 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.
9. 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, according to Robert Bailey, Director, Climate Resilience, Marsh & McLennan Advantage, Insights and Jaclyn Yeo, Research Manager, Marsh & McLennan Advantage, Insights.
10. Global Insurance Prices Have Increased Every Quarter for Two Years: Global commercial insurance prices rose by 8 percent in the third quarter of 2019. All three major product lines — property, casualty, and financial and professional — showed increases, with the third quarter of 2019 marking the eighth straight quarter of increases in the Marsh Global Insurance Market Index since its inception in 2012, according to Dean M. Klisura, President, Global Placement for Guy Carpenter affiliate, Marsh.
