Severe thunderstorm activity affected large parts of Victoria, Canberra, Sydney and South-East Queensland from January 19-21. The storms produced large hail, damaging winds and flash flooding in many areas across these states. According to the Australian Bureau of Meteorology (BOM), there were ground reports of hail of up to 5 cm (2.5 inches) in diameter across Canberra, ... Continue Reading »
Property
Is the Energy Sector’s Risk Management Keeping Up with the Pace of Digitalization
Expanding digitalization is a core characteristic of the energy sector’s ongoing transformation. The adoption of intelligent, sophisticated technology, including artificial intelligence for control and monitoring systems, is enabling new business models and more efficient asset management. ... Continue Reading »
Modeling Insights
Here we review recent GC Capital Ideas posts covering insights on modeling. ... Continue Reading »
Global Risks Report 2020
The 15th edition of the Global Risks Report has been published by the World Economic Forum with support from Marsh & McLennan. Drawing on feedback from nearly 800 global experts who were asked to rank their concerns in terms of likelihood and impact, this year’s report highlights two core threads across the risks landscape: Intensifying confrontations, both between and w ... Continue Reading »
Wildfire Risk and Underwriting Strategy
In 2018, California suffered its most costly and deadly fire season to date. The year’s costliest insured loss event was California’s Camp Fire at USD 12 billion — also the most destructive fire in the state’s history. Additionally in 2018, over 100 people perished in wildfires in Greece; British Columbia, Canada, suffered its worst wildfire season in history; in Australia, bush ... Continue Reading »
Review of Silent Cyber Coverage on GC Capital Ideas
Here we present the recent stories that GC Capital Ideas has presented on silent cyber, also known as unintended or non-affirmative coverage, the unknown or unquantified exposures stemming from cyber perils that may be triggered within traditional property and liability insurance policies. ... Continue Reading »
Chart: Global Property Catastrophe ROL Index
The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2020. ... Continue Reading »
CAT-i Report: Australia Bushfires – January 8, 2020
Bushfire activity in the last few months has rendered significant impacts to portions of Australia, and especially so in recent weeks with severe impacts reported in New South Wales. The bushfire activity has caused devastating impacts to human life, property, infrastructure, and wildlife. Extreme fire weather conditions across the country together with record heat and drought ... Continue Reading »
CAT-i Report: M6.4 Earthquake Offshore Southwest Puerto Rico
Southern Puerto Rico was affected by a Mw 6.4 earthquake early on January 7, 2020, after experiencing a Mw5.8 earthquake the day before. Since late December, the region had been shaken by more than 200 M4+ earthquakes. The North American and Caribbean tectonic plates converge along the southwest and west of Puerto Rico, and this was the source of the recent stronger shaking ... Continue Reading »
Weather Sentinel: How can we improve? Take our survey
The Guy Carpenter Weather Sentinel issues time-sensitive updates on important meteorological events worldwide that have the potential to impact the insurance industry. We respectfully request a few minutes of your time for a quick survey to give us more insight on how we can improve the real-time natural catastrophe communications. ... Continue Reading »
