January 1, 2020 Reinsurance Renewals Reflect Asymmetrical Market: Reinsurance renewals at January 1, 2020 were shaped by deteriorating loss experience, a lack of new capital inflows and increasingly challenged environments in the primary insurance and retrocession markets, according to Guy Carpenter.
CAT-i Report – Australia Bushfires: Bushfire activity in the last few months has rendered significant impacts to portions of Australia, and especially so in recent weeks with severe impacts reported in New South Wales.
CAT-i Report – M6.4 Earthquake Offshore Southwest Puerto Rico: Southern Puerto Rico was affected by a Mw 6.4 earthquake early on January 7, 2020, after experiencing a Mw5.8 earthquake the day before. Since late December, the region had been shaken by more than 200 M4+ earthquakes.
Chart – Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2020.
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.
And, you may have missed ….
Affirmative versus Silent Cyber – An Overview: While the current debate over “affirmative” versus “non-affirmative” coverage has been ongoing for a few years, WannaCry and Petya/NotPetya cyberattacks helped make the issue of ”silent cyber” more critical. These two 2017 cyberattacks effectively shifted the conversation from data breach, notification costs and third-party liability to first-party liability insuring agreements due to the extent and expanse of the systematic, large-scale damages they triggered.