For the first time since 1918, the world has had to deal with a truly global pandemic. In rapid succession, governments around the world simultaneously imposed quarantines, travel restrictions, business closures and a variety of other measures in an attempt to mitigate the spread of a virus. ... Continue Reading »
Casualty
GC Capital Ideas Top Stories: November 2020
1. 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, according to a recent article in Insurance Day from Massimo Reina, CEO for Continental Europe at ... Continue Reading »
Recent GC Capital Ideas Video Talks On the Current Risk Landscape
GC Capital Ideas highlights recent video talks from our experts, with a focus on COVID-19 developments and climate change. ... Continue Reading »
Chart: Top 10 Largest Insured Losses vs Projections for COVID-19
The following chart shows how industry loss estimates for COVID-19 put forward by a number of entities compare to other major insured events, in inflation-adjusted terms. As ultimate losses are largely unknown, there is substantial variability within and between estimates for COVID-19, ranging from a low end USD 30 billion to close to USD 100 billion. ... Continue Reading »
Video: Cyber Underwriters Avoid COVID-19 Exclusions Even as Ransomware Concerns Soar
As we all move to working from home and remote locations, the increased risk of cyber attacks has become more prevalent. COVID-19 has presented an opportunity for rogue actors to attack vulnerable companies and indeed individuals. For some, working from home can mean more lax security. This has resulted in the cyber underwriting fraternity asking more questions around COVID-19, ... Continue Reading »
Video: Better By Design – Preparing for Shock Events
As organizations continue to adapt and respond to the COVID-19 pandemic, understanding its impacts is critical to mapping the path forward as a business, industry and broader society. Virtually bringing together our global clients, colleagues and subject matter experts, including those from Guy Carpenter, the recent Marsh & McLennan Better By Design conference provided a ... Continue Reading »
The Long Haul to Normalcy
As the COVID-19 situation changes on a daily basis, the total impact to the insurance and reinsurance markets remains unknown, and Guy Carpenter is advising clients in the space on how to best adapt to the circumstances. The (re)insurance industry, policyholders and governments throughout the world must come together on an approach that offers relief to those who need it now ... Continue Reading »
Why 2020 Has Made the Ever-Evolving Cyber Landscape Even More Dynamic: Part IV
To address the challenges surrounding silent cyber, (re)insurers require an effective means of qualifying and quantifying the risk of silent cyber across entire portfolios, according to Guy Carpenter colleagues Will Garland, President, Centers of Excellence, and Erica Davis, North America Cyber Center of Excellence Leader, Guy Carpenter. ... Continue Reading »
Why 2020 Has Made the Ever-Evolving Cyber Landscape Even More Dynamic: Part III
The business community is evaluating risk through a transformed lens, in light of COVID-19. The (re)insurance sector is also identifying the lessons learned about unforeseen aggregated exposure. The systemic nature of both affirmative and silent cyber risk has long been one of its most defining, and challenging, characteristics, according to Guy Carpenter colleagues Will ... Continue Reading »
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, according to a recent article in Insurance Day from Massimo Reina, CEO for Continental Europe at Guy Carpenter. ... Continue Reading »
