1. 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.
2. June 1, 2020 Reinsurance Renewal – COVID-19 Looks Set to Rank Among the Sector’s Most Expensive Events: Although considerable uncertainty remains over its ultimate cost, COVID-19 looks set to rank among the (re)insurance sector’s most expensive events. The pandemic has the potential to bring unknown loss impacts. It is also likely to be one of the slowest developing catastrophes that carriers have ever encountered, likely creating a prolonged period of uncertainty.
3. COVID-19 Perspectives Series – Q&A with David Priebe, Chairman, Guy Carpenter: David Priebe offers COVID-19 insights on investment portfolio impact on (re)insurance pricing, pricing momentum amid economic challenges, alternative capital and communicable disease exposures and exclusions in a recent interview with The Insurer.
4. Is Coronavirus About to Cause the Next Global Financial Crisis: The longer the global pandemic persists, the more likely underlying weaknesses of debt-laden corporate balance sheets will be exposed, setting off a wave of selling, impairments and defaults. In this scenario, a combination of mark-to-market losses and defaults will reduce investors’ appetite for corporate credit risk and will eat into financial institutions’ capital cushions, potentially destabilizing the system and constricting the flow of credit through the economy.
5. 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).
6. Private Equity Responses to COVID-19: Private equity funds face a variety of risk exposures as demand shocks and balance sheet issues caused by COVID-19 impact companies across numerous industries. Guy Carpenter-affiliate Oliver Wyman looked at deals from approximately 40 of the top funds since 2017 and found that more than one-third have occurred in sectors that are experiencing added risk from the effects of COVID-19.
7. Catastrophe Bonds, Disaster Risk Insurance Facilities and Natural Disaster Funds – Protecting our Planet and the Public Purse: Guy Carpenter’s recently released report on the public sector response to climate change, Protecting our Planet and the Public Purse, looks beyond the United States’ approach to natural catastrophe risk mitigation and investigates the measures taken by countries in Latin America and Asia.
8. CAT-i Report – Severe Thunderstorm Activity in the U.S. Southeast: Weekend severe thunderstorm activity has affected areas from the Southern Plains to the Atlantic Coast, with especially severe activity reported Sunday, April 12. In particular, several long-track, destructive tornadoes were reported including a confirmed EF-3 crossing portions of Monroe, Louisiana, another EF-3 near Clemson, South Carolina and two significant tornadoes reported north of Hattiesburg, Mississippi.
9. 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.
10. COVID-19 – Current and Future Impacts on Medical Insurance: As we learn more about the COVID-19 virus, societal responses and vaccine development, our collective knowledge continues to develop. Throughout this time, Guy Carpenter is continually connecting with our clients and business associates to gather the key questions health insurers are asking along with the range of potential outcomes.
