Cyber Trends in 2019: Guy Carpenter recently published its Cyber Year in Brief and 2020 Outlook, which takes a look back at the prevailing cyber-related trends of 2019.
Global Risks Report 2020 – Pressures on Health Systems: Gathering pressures are straining health systems on many fronts. The 2020 Global Risks Report, produced by the World Economic Forum in partnership with Marsh & McLennan and Zurich Insurance Group, discusses long-standing challenges as well as the next generation of health pressures that health systems are now confronting.
It’s Not the Best Time to Get Pandemic Risk Insurance. Here’s Why: The most timely opportunity to take action on pandemic risk insurance is not necessarily when a new virus is making international headlines. But the spread of the novel coronavirus (COVID-19) has compelled insurers and reinsurers to take a deeper look at their potential exposures, as warning signs flash that the coronavirus may develop into a global pandemic with impacts across a broad swath of sectors, according to David Rains, Managing Director and Healthcare and Life Specialty Leader for Guy Carpenter.
China’s E-grocery Booms as Consumer Diet Shifts During Epidemic: In a recent survey of Chinese consumers by Guy Carpenter-affiliate Oliver Wyman, eight out of 10 respondents said their food choices have changed during the COVID-19 outbreak, and half of them reported a substantial change. The consultancy also found in the survey that Chinese e-commerce players are the biggest winners. This is because 62 percent of the respondents said they have shopped more often online for food in the past month, and 56 percent said they have expanded their reach to other online grocers for their food purchases during the outbreak.
Access to Private Capital Crucial to Governments’ Ability to Enhance Climate Resilience: Severe weather events and demographic challenges are putting an increasing strain on government finances, requiring a rethink of how catastrophic events are funded and a greater use of public-private partnerships to manage risk, according to Guy Carpenter.
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The Impact of the Coronavirus on Business: Pandemics top national risk-management frameworks in many countries. For example, pandemic influenza tops the natural hazards matrix of the UK National Risk Register, and emerging infectious diseases are tagged as of considerable concern. Seen as a medical problem, each outbreak of a potentially dangerous infection prompts authorities to ask a rational set of questions and dust off the menu of response options that can be implemented as needed in a phased manner, according to Richard Smith-Bingham, Executive Director of Insights at Marsh & McLennan Advantage, and Kavitha Hariharan, Director at Marsh & McLennan Insights.
