As the costs stemming from COVID-19 continue to climb, reinsurers are collaborating with the healthcare industry on how to mitigate the impacts of the virus on the sector. Virtual health care options are becoming increasingly commonplace, and the growing use of telemedicine and capacity constraints within our healthcare system will potentially dull utilization increases. As ... Continue Reading »
Casualty
Podcast: Risk & Resilience in the Time of COVID-19
As the human and economic costs of COVID-19 continue to mount, reinsurers are working with government entities and healthcare executives on how to mitigate the impacts of the virus on the sector. The growing use of telemedicine and capacity constraints within healthcare systems could potentially dull utilization increases; however, the financial costs will still be significant. ... Continue Reading »
Employment Liability Claims Set to Rise With COVID-19
As the COVID-19 pandemic continues into the summer, public health concerns are of the utmost importance, and Guy Carpenter is actively developing a view of how COVID-19 may impact businesses as employees begin returning to their offices. And as business activity ramps up from COVID-19-related restrictions, companies are determining just how they will create a safe space for ... Continue Reading »
GC Capital Ideas Top Stories: June 2020
1. 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 car ... Continue Reading »
How Ransomware Threats and Regulatory Pressures are Driving Cyber (Re)insurance Sales
What is motivating cyber (re)insurance sales? Guy Carpenter's Cyber Year in Brief and 2020 Outlook explores how the threat of ransomware and associated high costs of regulatory actions have driven clients to purchase cyber insurance cover for the first time, or to reassess the adequacy of currently purchased limits. ... Continue Reading »
Positioning Virtual Care to Transform Health Benefits
As the costs stemming from COVID-19 continue to climb, reinsurers are collaborating with healthcare executives on how to mitigate the impacts of the virus on the sector. Virtual health care options are becoming increasingly commonplace, and the growing use of telemedicine and capacity constraints within our healthcare system will potentially dull utilization increases. For ... Continue Reading »
COVID-19: The View From the Marketplace
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. ... Continue Reading »
COVID-19 Unveils a Payer Opportunity
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. At least one in seven working Americans is now unemployed. And as high as one in four Americans is ... Continue Reading »
How America’s Insurance System Can Prepare For a Future Pandemic
The insurance industry, policyholders and governments throughout the world must come together on an approach that offers relief to those who need it now and develop a plan to implement mitigation strategies and a response mechanism for future pandemic events. The scale of this exposure is immense and far beyond the financial capabilities of the insurance industry alone. A ... Continue Reading »
June 1, 2020 Reinsurance Renewal: Hurricane Season Projections
While June 1 renewals were challenging, capacity ultimately came together to meet cedents’ needs and the market continued to function well. Similar outcomes are expected at July 1, and looking further ahead to January 1, 2021. The reinsurance sector has shown itself to be well versed at navigating market-changing events, and the overriding message following June 1 renewals is t ... Continue Reading »
