1. Diversity is Key to a Successful Business: To tackle gender and diversity issues, corporate commitment goes a long way. “Our goal is to have a workforce that is representative of the society that we live in. We look at ways to unlock the full potential of our workforce by creating an inclusive culture where all can thrive and grow. Recruiting, retaining and developing diverse talent and nurturing our diverse leadership talent pipeline forms an important part of our Diversity and Inclusion strategy,” says James Nash, International CEO of Guy Carpenter.
2. CAT-i Bulletin – Hurricane Hanna: Hurricane Hanna, the eighth named storm and first hurricane of the 2020 Atlantic season, made landfall in South Texas at 6PM EDT, July 25, 2020 as a category-1 hurricane. This is the highest number of named storms in the Atlantic this early in the season, according to the known historical record, and is one storm ahead of the hyperactive 2005 season.
3. Webinar – Cyber Risk in the COVID-19 Pandemic: Marsh & McLennan hosted a recent webinar where cyber experts from affiliates Guy Carpenter, Oliver Wyman and Marsh discussed the impacts of COVID-19 on the cyber threat landscape. The webinar, hosted by Siobhan O’Brien, Head of Guy Carpenter’s International Cyber Center of Excellence, delves into how to manage through the immediate crisis, how to evaluate cyber risk and cyber risk transfer options and the possible longer-term impacts on the cyber threat landscape through the transformation of businesses.
4. Silent Cyber – No Longer Silent? Silent (or non-affirmative) cyber refers to cyber-related exposure within many all-risk general insurance products. If no explicit cyber exclusion applies, coverage for losses caused by cyber perils may apply. This underlying exposure’s potential for aggregated loss is currently one of the major issues being considered by the (re)insurance industry.
5. Reinsurance Resilience and Value – Protecting our Planet and the Public Purse: The global reinsurance market has been fundamental to the management and mitigation of risk for over 150 years. Guy Carpenter’s Protecting our Planet and the Public Purse report examines how the reinsurance market’s innate ability and desire to innovate and evolve through different market cycles and periods of change has helped to strengthen the market’s resolve and resilience to losses.
6. June 1, 2020 Reinsurance Renewal – The Impact of COVID-19 on Florida Property Catastrophe Pricing: The June 1, 2020 renewal is the first genuine test of the reinsurance market since the COVID-19 outbreak prompted government-mandated lockdowns across the globe. The pandemic has compounded an already firming reinsurance environment, resulting in challenged placements and pronounced property catastrophe pricing increases, particularly in Florida.
7. 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 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.
8. Private Equity and COVID-19: Lessons From the Global Financial Crisis: Countries across the developed and emerging world are trying to manage the severe economic short-term impacts of the COVID-19 crisis. Given the immense uncertainty, it will take much longer to even begin to assess the permanent implications for the world’s populations, companies and economies. The ultimate effects will, in large part, be dependent on the duration of the crisis, the length and depth of which is currently generating speculations and requires substantial analysis.
9. Governance Challenges 2020 – Strengthening The Board’s Role In Strategy Development and Execution: The National Association of Corporate Directors (NACD) recently released its 2020 edition of Governance Challenges in collaboration with their five strategic-content partners, which includes Marsh & McLennan. Marsh & McLennan’s contribution, Facing Uncertainty: 25 Strategy and Crisis Questions for Directors, outlines how strategy discussions at a time of crisis create a venue for management and the board to pressure-test assumptions underlying strategy and hone a clearer vision for the organization post-crisis.
10. Boards Must Focus On The Horizon: How to Best Position for COVID Recovery: Obligations for non-executive directors (NEDs) are easily stated but executed with difficulty. Arguably the most challenging responsibility under stress is protecting long-term shareholder value. While this necessitates a focus on survival in the short term, it means boards must divert sufficient attention to what comes next: recovery.