How Will Climate Catastrophes Be Handled in the Face of Coronavirus: A lot can change in three months. As the year got underway, climate change was widely viewed as the most serious threat to global prosperity. The annual risk perception survey of the 2020 Global Risks Report, published by the World Economic Forum in partnership with Guy Carpenter-affiliate Marsh & McLennan, saw climate-related risks dominate the rankings in terms of both likelihood and impact. Since then, climate change has fallen down the agenda as COVID-19 has risen up it.
CAT-i Report – Typhoon Vongfong (Ambo): In the Northwest Pacific Basin, Typhoon Vongfong made landfall in the Philippines on May 14 around 12:15 PM local time (0415 UTC), in the municipality of San Policarpo, Eastern Samar Province. Just after moving inland, the typhoon carried 1-minute sustained winds of around 185 km/hr (115 mph), a category-3 on the Saffir-Simpson Scale according to the Joint Typhoon Warning Center (JTWC).
COVID-19 Makes Digital Care the Norm in China: The global COVID-19 pandemic has hit healthcare hard, considering the immense pressure for the sector to build up capacity, to protect its workforce, to coordinate across public response and policy, and to assure and serve the populace in many stages of worry or disease. As the government urged or mandated populations to stay at home and as hospitals turned away patients for non-COVID-19 related ailments, digital health and telemedicine supplemented the strained delivery system.
Building National Resilience – Impact Analyses: The ongoing COVID-19 pandemic has illustrated how crucial it is for public sector entities to make use of the reinsurance industry’s advisory capabilities when evaluating risks and their potential impacts. This is particularly important for governments seeking to draft contingency and response plans in the face of a crisis. Guy Carpenter is well positioned to work with governments on creating frameworks to address nation-level risks including pandemic, as well as less pressing, but equally important risks that also overlap with the public sector, such as those from cyber or terror attacks.
Estimating the Impact of COVID-19 on the U.S. Medical (Re)Insurance Market: As the COVID-19 situation is changing on a daily basis, the impact to the insurance and reinsurance markets is not yet fully known. However, given the significance of the developments, Guy Carpenter provides our view of how COVID-19 may impact the medical (re)insurance market.
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The Marsh & McLennan Advantage Podcast – Climate Resilience in Focus: In the inaugural episode of The Marsh & McLennan Advantage podcast, experts from throughout the firm discuss risk factors and responses to the changing climate, through the lens of the public and private sectors. Rob Bailey of Marsh & McLennan Advantage Insights and Ruth Lux, a Public Sector specialist at Guy Carpenter, discuss how governments are partnering with the private sector to transfer some of their exposure to climate risk to the private market.