Pandemics top national risk-management frameworks in many countries. For example, pandemic influenza tops the natural hazards matrix of the UK National Risk Register, and emerging infectious diseases are tagged as of considerable concern. Seen as a medical problem, each outbreak of a potentially dangerous infection prompts authorities to ask a rational set of questions and dust ... Continue Reading »
Casualty
2020 AFP Risk Survey: Cybersecurity Continues to Dominate Risk Landscape
While cyber risk flew under the radar 10 years ago, today it’s a top concern. In a survey of nearly 365 treasury and financial professionals, 53 percent of respondents reported that cybersecurity risk is currently the most challenging risk to manage, and the majority believe it will continue to be for the next three years. ... Continue Reading »
Global Risks Report 2020: Climate Realities
According to the 2020 Global Risks Report, produced by the World Economic Forum in partnership with Marsh & McLennan and Zurich Insurance Group, the near-term consequences of climate change add up to a “planetary emergency”. (1) Implications are catastrophic, wide-ranging and intersecting. Worse still, the complexity of the climate system means that some impacts are still un ... Continue Reading »
Outbreaks, Epidemics, and Pandemics: Preparedness and Response Strategies
Over the last century, tens of millions of lives have been claimed by pandemics, epidemics, and outbreaks that also have wreaked havoc on businesses and damaged national economies. Despite advances in medicine and improved infection control practices, the novel coronavirus (2019-nCoV) outbreak originating in Wuhan, China — which the World Health Organization (WHO) has declared a ... Continue Reading »
January 1, 2020, Reinsurance Renewals: A Smooth Transition
The (re)insurance sector is undergoing a period of transition: views of risk are changing and risk appetites are responding accordingly. This shift has manifested itself more acutely in the primary market, as underperformance across multiple lines of business over several years has led to market hardening. This is evidenced by Marsh’s Global Insurance Market Index, which shows g ... Continue Reading »
Review of Healthcare Coverage on GC Capital Ideas
Here we review GC Capital Ideas’ recent stories on healthcare and medical (re)insurance. ... Continue Reading »
January 1, 2020, Reinsurance Renewals: Casualty
The backdrop to casualty reinsurance renewals at January 1, 2020 was more difficult, as heightened litigation costs, more generous jury verdicts and shifting attitudes in the United States forced reinsurers to adopt more cautious underwriting positions. Higher loss cost trends, increased frequency of severity and loss development beyond reinsurers’ expectations led to market t ... Continue Reading »
GC Capital Ideas Top Stories: January 2020
1. January 1, 2020 Reinsurance Renewals Reflect Asymmetrical Market: Reinsurance renewals at January 1, 2020, were shaped by deteriorating loss experience, a lack of new capital inflows and increasingly challenged environments in the primary insurance and retrocession markets, according to Guy Carpenter. Read the article >> 2. CAT-i Report on Australia Bushfires – J ... Continue Reading »
January 1, 2020, Reinsurance Renewal: Key Takeaways
Guy Carpenter this month released its briefing on the 2020 reinsurance market renewal environment. Here are the key takeaways from our analysis of the renewal: • The reinsurance market is healthy and responsive overall. • Dedicated reinsurance capital remains abundant, with a modest increase over last year-end, driven by rated capital. • Market adjustments are occurr ... Continue Reading »
2020 Healthcare Predictions in Asia-Pacific: Looking Back to Look Ahead
Demand for healthcare in the Asia-Pacific region is growing rapidly. This is especially true given its rising aging population (the number of elderly people in Asia by 2030 will increase by 200 million, or 71 percent) and as governments continue to roll out ambitious universal health coverage schemes (which have been seeing recent success in countries such as India, the Phi ... Continue Reading »
