Guy Carpenter announced the appointment of Paul Gressier as Managing Director and Head of UK & Ireland Motor and Associated Casualty, effective August 9, 2021. ... Continue Reading »
Casualty
Climate Health Threat Illustrator
Climate change is increasing health risks and costs for people and businesses worldwide — and its effects will intensify over time. Disease burden and disparities are likely to worsen, and two out of three major cities expect climate change to seriously compromise their public health assets and services. ... Continue Reading »
Narrow Artificial Intelligence Is Latest Disrupter to Insurance Industry
Society is entering the age of artificial intelligence. Significant players in every industry are implementing narrow artificial intelligence (NAI) to improve their business processes. As a consequence, no element of the global insurance business model will be untouched. Most insurance product lines will need to be reengineered to reflect the new risks arising out of the ... Continue Reading »
Guy Carpenter Appoints Head Actuary for U.K. Non-Specialty Division
Guy Carpenter announced the appointment of David Arthur as Head Actuary of its U.K. Non-Specialty business, which encompasses Global Casualty, Accident & Health, U.K. Property and U.K. Motor, effective October 2021. ... Continue Reading »
Video: Captive Trends and Data – What You Should Know
The use of captive insurance companies grew significantly in 2020, and there are no signs of it slowing down in 2021. The webinar and accompanying slide deck from Marsh McLennan business Marsh highlight the record number of companies that formed a captive last year, how they are using them and what's ahead for the captive industry. ... Continue Reading »
GC Capital Ideas Top Stories: May 2021
1. What If We Applied the Urgency of Solving COVID to Climate Change? Our response to rising global temperatures has lacked the kind of urgency that pushed governments and the scientific community to develop not one, but several vaccines only a year after the first case of COVID-19 was diagnosed. Read the article >> 2. OmniCAT® Risk Score: Severe Thunderstorm Risk ... Continue Reading »
Recent Healthcare Highlights on GC Capital Ideas
The societal, operational and human costs associated with COVID-19 are prominent in our thoughts, discussions and efforts. While these costs are undoubtedly high, health insurers and reinsurers are also closely monitoring the direct and indirect financial impact of the virus. Digital Tools Promise Much for Mental Health — But They Are Not a Panacea: A recent report from ... Continue Reading »
Insurance Prices Are Rising, With Cyber Claiming Big Increases
Global commercial insurance prices increased 18 percent, on average, in the first quarter of 2021, although there are signs that increases may be plateauing in some regions. The first quarter increase was lower than the 22 percent seen in the prior quarter. Pricing for cyber insurance diverged from the trend, with prices generally increasing – notably by 35 percent in the ... Continue Reading »
Digital Tools Promise Much for Mental Health — But They Are Not a Panacea
Prior to COVID-19, the (re)insurance industry was already facing a range of challenges. The widespread impact of a global lockdown added to this challenging market and created the potential for even greater volatility. For an industry founded on the principles of diversification, we are now grappling with the implication of the first globally systemic insurance ... Continue Reading »
Global Insurance Markets: Pricing Increases Moderate in First Quarter
Global commercial insurance prices increased 18 percent in the first quarter of 2021. The quarter is the first to show a fall in the average rate of increase since the first rise in global rates in the fourth quarter of 2017. It follows year-on-year average increases of 22 percent in the fourth quarter and 20 percent in the third quarter of 2020. This data comes from the latest ... Continue Reading »
