Wildfire – Understanding and Modeling the Risk: The ability to understand the underlying risk and to model potential exposures will be key to risk management and underwriting decisions moving forward.
Guy Carpenter/Flood Re Webinar Highlights Critical Importance of Enhanced Planning and Collaboration to Boost Flood Resilience: The dual challenges of increasing flood risk in the United Kingdom and the impact of climate change are demanding improved planning, greater adaptability and proactive engagement across multiple stakeholders to better identify climate-related exposures and enhance resilience measures, particularly in the built environment.
Clarity Over Coverage is Critical as COVID-19 Casts a Shadow over January Renewals: Reinsurance renewal negotiations are delicately poised, with increasing pressure on rates, economic uncertainty and disputes over COVID-19 wordings putting long-standing relationships to the test.
Leading Up to January 2021 Reinsurance Renewals: Guy Carpenter’s new briefing, Leading Up to January 2021 Reinsurance Renewals, highlights the myriad market developments providing the backdrop to January 1, 2021 renewals. The topics range from COVID-19-related losses and rate movements at the mid-year renewals, through tightening capacity across certain insurance classes and loss developments on long-tail lines of business.
Guy Carpenter U.S. Property Catastrophe Rate-On-Line (ROL) Index: The U.S. property catastrophe Rate on Line (ROL) index for January through July renewals was up 12 percent year-on-year. Pricing pressures have built through the course of the year: The mid-year data point represents a larger increase than what was recorded at January 1. Wind and wildfire-exposed programs once again played a prominent role in driving the index higher, with COVID-19 acting as an accelerating force.
And, you may have missed….
The Changing Nature of Risk: There is an old adage that “adversity builds character.” However, before adversity builds character, it reveals character, and the numerous catastrophes that have occurred over the last several years combined with the ongoing pandemic have clearly revealed the character of the insurance industry.