Depending on domicile, insurers can often access public/private risk-sharing mechanisms that can help manage the financial threat of terrorism. Coverage purchased via these mechanisms is typically triggered by a national government’s declaration that a terrorist event has occurred. Given the potential scale of the threat and impact on the insurers’ distribution channels, sev ... Continue Reading »
Property
Weather Sentinel: Escalating SCS Threat – U.S. Midwest
An escalating threat for severe thunderstorms today will affect areas from the Dakotas to the central Great Lakes. The U.S. Storm Prediction Center (SPC) has flagged areas under threat, including a rare moderate risk area for portions of Minnesota and Wisconsin. The Meteorological Service of Canada has also issued severe thunderstorm watches for portions of Southern Ontario. ... Continue Reading »
Chart: Significant Insured Losses – 2011 to Q2 2019
Chart exhibits the significant insured losses from 2011 through the second quarter of this year. First-half 2019 losses are at levels below those experienced in first-half 2017 and 2018. ... Continue Reading »
CAT-i Bulletin: Hurricane Barry
Hurricane Barry made landfall near Morgan City, Louisiana on July 13, briefly reaching hurricane status while moving ashore. The storm has since weakened and its remnants have moved into the Lower Great Lakes area. The slow forward motion of the storm has rendered widespread flooding and localized significant flooding in Louisiana, Mississippi and Arkansas. Wind impacts have ... Continue Reading »
How to Line Up Your Cyber Defense
Given the reality of the cyber threat landscape, you need to determine the tools you need to mitigate and respond to inevitable cyber attacks. Unfortunately, while both the aggressiveness and sophistication of cyber attacks have accelerated, defensive capabilities have been relatively slow to evolve and respond (1). ... Continue Reading »
Barry Decays, Yet Remains Major Inland Flood Threat
After Barry's brief time as a hurricane on Saturday during landfall on the central Louisiana coast, the hurricane weakened rapidly on Sunday but still remains a formidable inland flood threat. The combination of slow movement and continued flow off the Gulf of Mexico is resulting in widespread inland flooding across Louisiana, Arkansas, Mississippi, western Tennessee and ... 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 »
Barry Upgraded to Hurricane Status While Moving Ashore
According to advisories of the National Hurricane Center (NHC), Tropical Storm Barry was upgraded to hurricane status while moving ashore about 40 miles south of Slidell, Louisiana at 11AM EDT Saturday. The storm has since been downgraded by the NHC to tropical storm status as it continues to move inland. Impacts due to flooding and wind have already been reported in affected ... Continue Reading »
Tropical Storm Barry – Significant Flood Threat Expected
Tropical Storm Barry has shown steady strengthening over recent hours, and now sits about 115 miles south-southeast of Morgan City, Louisiana. The storm is expected to continue on a slow turn to the north over the next 24 hours or so, to move ashore over the central Louisiana coast as a probable hurricane early Saturday. Model guidance has shown somewhat better agreement in ... Continue Reading »
Tropical Storm Barry
The northern Gulf disturbance was upgraded this morning to Tropical Storm Barry, and sits about 90 miles from the mouth of the Mississippi River. The storm is expected to move very slowly to the north and west over the coming days, to move ashore in Louisiana as a hurricane sometime early Saturday. There remains considerable uncertainty on track and especially intensity. ... Continue Reading »
