Global Risks Report 2020 – Macroeconomic Risk Factors: During the last decade, moderate but stable growth has given way to what the International Monetary Fund (IMF) has called a “synchronized slowdown” — weakened growth among the world’s economies. Last year’s Global Risks Report, produced by the World Economic Forum (WEF) in partnership with Marsh & McLennan and Zurich Insurance Group, cautioned that a gradual deceleration was underway, and the evidence suggests that, since then, the slowdown of the world economy has further materialized.
The Novel Coronavirus May Damage Aviation More Than SARS: Since December, the novel coronavirus that began in the Chinese megacity of Wuhan has infected more than 24,000 people and killed almost 500. It is well on its way to becoming a pandemic — defined as an ongoing epidemic that has spread to two or more continents, according to Khalid Usman, Senior Vice President in Oliver Wyman’s Transportation Practice and Douglas Carlucci, Partner in Oliver Wyman’s Transportation and Digital Practices. Oliver Wyman is an affiliate of Guy Carpenter.
January 1, 2020, Reinsurance Renewal – Key Takeaways: Guy Carpenter this month released its briefing on the 2020 reinsurance market renewal environment. Here are the key takeaways from our analysis of the renewal.
CAT-i Report on Australia Bushfires – January 8, 2020: Bushfire activity in the last few months has rendered significant impacts to portions of Australia, with severe damage reported in New South Wales. The Insurance Council of Australia estimates insured losses on the order of AUS 700 million as of January 7.
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.
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Looking Beyond the Clouds – A U.S. Cyber Insurance Industry Catastrophe Loss Study: Guy Carpenter and CyberCube Analytics released the findings of a joint report that explores the size and shape of potential cyber catastrophes and the resulting financial impact on the U.S. cyber insurance market.