As capital continues to be drawn to the opportunity of improved pricing conditions across the (re)insurance market, the emerging class of 2020 (re)insurance startups is expected to bring both long-term and committed solutions to brokers and cedents, according to Lara Mowery, Global Head of Distribution at Guy Carpenter. ... Continue Reading »
Casualty
Video: Negotiating the Fine Print of Pandemic Coverage Exclusions
Changes in reinsurance terms and conditions, notably the exclusion of pandemic cover in new and renewing contracts, will be a key feature of discussions as January 1 renewal negotiations come to a close in the coming days. ... Continue Reading »
A.M. Best COVID-19 Stress Test
In May 2020, A.M. Best announced details of its COVID-19 stress test. The assumptions for its stress test are as follows: ... Continue Reading »
Recent GC Capital Ideas Posts on Cyber
Here we showcase the recent stories that GC Capital Ideas has presented on cyber risks. Particular topics of focus include silent cyber and the intersection of COVID-19 and cyber risk. ... Continue Reading »
Video: Cedent Differentiation at the Heart of the Casualty Renewals
Lara Mowery, Global Head of Distribution at Guy Carpenter, highlights how renewal discussions are focusing on the offsetting trends of underlying rate changes on casualty business and loss activity that has occurred in the past. While it will take time for the full impact of this to play out, Guy Carpenter is concentrating on the individual dynamics of the renewal and the ... Continue Reading »
COVID-19 Coverage Uncertainties and 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 »
It’s Time for Insurance to Catch Up to the Intangible Asset Revolution
The COVID-19 pandemic and social unrest in 2020 remind us that the insurance industry’s challenges might change on a year-to-year basis, but they will never end. COVID-19 may represent the vanguard of a series of public health crises arising out of climate change, income inequity, fraying social safety nets, demographic imbalances, resource shortages and increasingly stressed u ... Continue Reading »
COVID-19’s Impact on Ratings
In March 2020, A.M. Best began evaluating the impact of the pandemic on ratings. Actions included implementing an operations survey for all rated entities, stress testing Best’s Capital Adequacy Ratio (BCAR) levels on all rating units and modifying sector outlooks. ... Continue Reading »
U.S. Property & Casualty Rating Upgrades Outpace Downgrades During the First Half of 2020
Given the confluence of COVID-19, ongoing fire and wind catastrophe events and A.M. Best’s evolving criteria it is increasingly important to stay on top of A.M. Best’s views, particularly on topical issues. ... Continue Reading »
Health Insurers and COVID-19: Future Impacts
Guy Carpenter has identified certain factors that may impact how large medical insurance carriers adapt to the needs of their insureds and employees in the United States amid COVID-19. ... Continue Reading »
