Guy Carpenter announced the launch of a new business unit, GC Access (SM), to provide dedicated MGA program business solutions. ... Continue Reading »
Casualty
The Changing Nature of Risk: Casualty Dynamics
History shows that the insurance market is cyclical, and this is especially true for casualty lines of business. As long-tail lines, the ultimate profitability of a year is not known for many years as changing loss trends and causes may not be recognized until it is too late to protect against adverse development. ... Continue Reading »
Digital Health Systems of Tomorrow: Unexpected Players are Rethinking Healthcare
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. ... Continue Reading »
Why 2020 Has Made the Ever-Evolving Cyber Landscape Even More Dynamic
The insurability of systemic cyber risk will be one of the defining issues of the next decade for the (re)insurance sector. Rapid technological changes and digitalization in particular have already transformed the characteristics of risks assumed by the (re)insurance market. ... Continue Reading »
Risk-Based Capital Stress Testing: Part V
As the world continues to wrestle with the COVID-19 outbreak, medical, economic and societal measures designed to limit the spread of COVID-19 have seen mixed results. Infection and fatality rates are no longer growing quite as fast as they were during March and April; however, many states are still grappling with increasing infection rates. ... Continue Reading »
The Changing Nature of Risk
There is an old adage that “adversity builds character.” However, before adversity builds character, it reveals character, and the numerous catastrophes that have occurred over the last several years combined with the ongoing pandemic have clearly revealed the character of the insurance industry. ... Continue Reading »
Pandemic Poses a New Catastrophe Paradigm: Part VI
COVID-19 has offered a first look into the sheer scale of systemic perils. As the risk landscape continues to shift, there is an opportunity, indeed an imperative, for governments and the risk transfer sector to find new means to collaborate. By leveraging risk management and risk transfer expertise, this partnership can help communities build greater resilience and recover ... Continue Reading »
Pandemic Poses a New Catastrophe Paradigm: Part V
There is precedent for the establishment of a government-led backstop to certain catastrophic loss scenarios. The public-private partnership model is one that has worked particularly well for more established risks that are capable of causing systemic economic shocks. The terrorism market serves as a fine example of how the security of central government backing can mitigate ... Continue Reading »
Pandemic Poses a New Catastrophe Paradigm: Part IV
Catastrophic cyber attacks and pandemics share a common characteristic in that they present threats with the potential for no geographical boundaries. This trait removes the certainty of diversification and makes both perils difficult to model and price. They also bring elevated correlations with financial markets, raising the prospect of simultaneous shocks to the underwriting ... Continue Reading »
Guy Carpenter Appoints Chief Human Resources Officer
Guy Carpenter today announced the appointment of Melissa Hartshorn as Chief Human Resources Officer, effective immediately. ... Continue Reading »
