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 healthcare options are becoming increasingly commonplace, and the growing use of telemedicine and capacity constraints within our healthcare system will potentially dull utilization increases. Before ... Continue Reading »
Casualty
GC Capital Ideas Top Stories: August 2020
1. Silent Cyber – No Longer Silent: Silent (or non-affirmative) cyber refers to cyber-related exposure within many all-risk general insurance products. If no explicit cyber exclusion applies, coverage for losses caused by cyber perils may apply. This underlying exposure’s potential for aggregated loss is currently one of the major issues being considered by the (re)insurance ind ... Continue Reading »
Webinar: COVID-19 – Life Sciences, Cyber Risk and the Accelerated Digital Journey
The cyber risk space is constantly evolving, and the ongoing pandemic situation has only exacerbated technology-related concerns for many companies. Looking toward the remainder of 2020 and beyond, Guy Carpenter sees a number of emerging trends that present both potential challenges and opportunities for our clients, particularly as they relate to COVID-19. On Thursday ... Continue Reading »
Standard & Poor’s Outlook on COVID-19 Part Four: Stress Testing
Standard & Poor's (S&P) continues to refresh its asset stress test, which reflects real-time insights on rating migration and default risk. The reinsurance, property & casualty (P&C) and life teams all conducted asset stress tests as the markets were starting to show dislocation in late February, as well as in mid-March, when the equity market was close to its ... Continue Reading »
David Priebe and James Nash Discuss Superregional Pandemic Solution Possibilities: Part Two
In a recent interview with The Insurer, Guy Carpenter executives David Priebe, Chairman, and James Nash, International CEO, discuss the prospect of nation states coming together to provide a wider solution for cross-border threats like pandemics and cyber. Some countries are contemplating developing public-private partnerships to insure future pandemic events, with ... Continue Reading »
Mid-Year 2020 Reinsurance Renewal: Losses
Loss activity through the first half of 2020 was dominated by COVID-19. There is considerable uncertainty embedded in each COVID-19 loss estimate released to date. The current average of all reported ranges (shown in the chart below) is ~USD 60 billion. ... Continue Reading »
COVID-19: Coronavirus-Related Testing and Treatment
As the virus continues to spread within the United States, questions began to arise about whether and how coronavirus-related testing and treatment would be covered by public and private health insurers. The concern is that potential costs may prevent those patients who may need testing, from pursuing testing. ... 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 »
Guy Carpenter Appoints Global Head of Sales
Guy Carpenter announced today the appointment of Jeffrey Livingston as Global Head of Sales, effective September 1. Mr. Livingston will also join the Guy Carpenter Executive Committee. In this newly created role, Mr. Livingston will be responsible for leading all of Guy Carpenter’s sales activities, and developing commercial strategies that will help clients realize their b ... Continue Reading »
David Priebe and James Nash Discuss Superregional Pandemic Solution Possibilities: Part One
In a recent interview with The Insurer, Guy Carpenter executives David Priebe, Chairman, and James Nash, International CEO, discuss the prospect of nation states coming together to provide a wider solution for cross-border threats like pandemics and cyber. David Priebe noted the circumstances in each nation state are quite different even though COVID-19 is affecting everyone ... Continue Reading »
