In the beginning of March 2020, insurers across the country immediately began requesting that barriers to providing care be removed during the pandemic to help them more efficiently test and treat COVID-19 patients. However, on March 18, 2020, Congress passed the Families First Coronavirus Response Act, which required health insurance companies that offer individual and group ... Continue Reading »
Pandemic
Health Insurers and COVID-19: Background and Timeline
As COVID-19 spreads throughout the United States and the resulting economic disruption continues, medical insurance carriers are responding to the needs of their customers in a rapidly changing market landscape shaped by legislative and competitive conditions. In this article, we provide an overview of how large medical insurance carriers are adapting to the needs of their ... Continue Reading »
Unprecedented Flexibility Is Needed for Business to Meet the New Reality
The transition to working from home has gone incredibly smoothly overall, enabling seamless communication between brokers, cedents and reinsurers. Technological advancement has facilitated this transition but human behaviors are equally important in ensuring colleagues continue to feel “connected” to their co-workers, clients and the overall market. ... Continue Reading »
How a COVID-19 Vaccine Can Reach Billions of People
As the COVID-19 pandemic and concerns surrounding a second wave of infections continue through autumn, public health concerns remain a top priority for people both in and outside the healthcare industry. ... Continue Reading »
Video: Better By Design – Navigating The Changing Nature of Risk
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 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 Changing Nature of Risk – Casualty Dynamics: Part III
History shows that the insurance market is cyclical, and this is especially true for casualty lines of business. Now, in 2020 we are experiencing the impact of COVID-19, which has acted as an accelerant in terms of both the pricing and capacity usage trends previously sought, according to Christopher Ross, Managing Director, Guy Carpenter. ... Continue Reading »
The New Health Care Economy Calls for Shifts From the C-Suite
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 urban infrastructures. As the COVID-19 pandemic continues through autumn, public health concerns remain a top priority for people both in and outside the ... Continue Reading »
COVID-19 Losses and Business Interruption: Leading Up to January 2021 Reinsurance Renewals
With regard to direct COVID-19 losses, many market commentators are revising their initial loss estimates downward, particularly in the domain of property business interruption (BI). Based on third-quarter earnings announcements to date, reported losses for COVID-19 reached just over USD 25 billion, much of which is incurred but not reported. At this time, there are many steps ... Continue Reading »
How (Re)insurance Fits into the COVID-19 Landscape: Leading Up to January 2021 Reinsurance Renewals
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 loss. ... Continue Reading »
Equity Market Response to COVID-19: Leading Up to January 2021 Reinsurance Renewals
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 »
