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.
Why We Need Community-Based Catastrophe Insurance: As disaster losses escalate around the globe, the difference between economic damages and the amount that is insured — known as the natural catastrophe protection gap — is an issue of increasing focus for community leaders and policymakers. Without disaster insurance, households and small businesses are often left struggling to repair and rebuild, reliant on competitive public relief dollars that can be stretched thin.
Standard & Poor’s Outlook on COVID-19: Standard & Poor’s (S&P) recently changed its outlook for the global reinsurance sector to negative from stable, as it anticipates a number of negative rating actions and increasingly difficult business conditions for the sector over the next 12 months. S&P assigned a stable outlook to over 80 percent of global reinsurers and projects that reinsurers will not meet their cost of capital in 2020 for a third year in a row due to COVID-19 insured losses and lower investment returns.
Digitalized Life Insurance – How Life Insurers Can Realize Value From Digital: Leaders have started to anticipate customer needs, rapidly build and launch solutions and continuously modify these solutions for the next set of needs. This has meant building a ‘customer first’ mentality, adopting ‘digital’ by using data analytics to drive actionable insights and building the supporting technology and operational foundations to quickly react to market and behavioral changes. Somewhere along the way, life insurance companies failed to keep up with the above changes.
Capital and The Insurance Industry During COVID-19: Vicky Carter, Guy Carpenter Chairman of Global Capital Solutions, International, recently spoke to Mark Geoghegan, Editor at The Voice of Insurance about capital in the (re)insurance industry during the COVID-19 pandemic. During their discussion, Vicky and Mark examine capital and the industry’s financial health, investor appetite for the insurance sector and the prospects for the emerging class of 2020.
And you may have missed..
Governments Need Private Capital for Economic Recovery and Future Disaster Protection: The risk landscape for public sector entities is changing faster than ever before, with extreme weather, mass migration and unfunded social liabilities set to dominate government agendas for decades to come. Risks such as pandemics and climate change are, by their very nature, massively disruptive, and nations are responsible for an increasing share of the costs as communities and businesses rely more and more on state disaster relief.