In times of economic distress, (re)insurance is typically considered by investors to be a defensive sector. This view is well merited: it has less exposure to economic cycles than other industries and has a strong track record in navigating macroeconomic and capital crises. This is not to say the sector will be unaffected by the COVID-19 crisis. Access to capital has reduced ... Continue Reading »
Property
Building National Resilience: Fiscal and Financial Risks
As nations come to terms with their own circumstances, difficult choices will have to be made. Many of the challenges facing societies carry with them immense fiscal costs. Much of these costs fall to governments to address. The opportunity for closer collaboration between the private (re)insurance market and governments to address the direct challenges of catastrophe event ... Continue Reading »
Building National Resilience: Crisis Response Arrangements
Governments and public sector entities in 2020 are responsible for responding to a variety of increasingly interconnected risks, from the consequences of climate change to the economic fallout catalyzed by the COVID-19 pandemic. Guy Carpenter's subject matter experts are actively following the evolution of different risk factors across a wide range of sectors, and can provide ... Continue Reading »
Weather Sentinel: 2020 SCS Season – A Tale of Three Perils
With two thirds of May in the rear-view mirror, we are nearing the usual peak of US severe thunderstorm activity. Significant outbreaks are still possible across much of the US during the rest of the calendar year, and this activity tends to decline heading into the deep summer months. Here is a look at some of the intermittent severe weather that impacted the US during the ... Continue Reading »
Building National Resilience: Centralized Ownership
As the 2020 risk landscape continues to shift and the COVID-19 pandemic remains active heading into hurricane season, Guy Carpenter is collaborating with governments and other public-sector entities to address these and other national risks. Guy Carpenter-assisted public-private partnerships have already been brought to market to help alleviate the financial burden placed on ... Continue Reading »
Building National Resilience: Impact Analyses
The ongoing COVID-19 pandemic has illustrated how crucial it is for public sector entities to make use of the reinsurance industry's advisory capabilities when evaluating risks and their potential impacts. This is particularly important for governments seeking to draft contingency and response plans in the face of a crisis. Guy Carpenter is well positioned to work with ... Continue Reading »
CAT-i Report: Typhoon Vongfong (Ambo)
In the Northwest Pacific Basin, Typhoon Vongfong made landfall in the Philippines on May 14 around 12:15 PM local time (0415 UTC), in the municipality of San Policarpo, Eastern Samar Province. Just after moving inland, the typhoon carried 1-minute sustained winds of around 185 km/hr (115 mph), a category-3 on the Saffir-Simpson Scale according to the Joint Typhoon Warning ... Continue Reading »
The Marsh & McLennan Advantage Podcast: Climate Resilience in Focus
According to Guy Carpenter-affiliate Marsh & McLennan's 2020 Global Risks Perception Survey, climate change and related environmental issues are now the top concerns for companies and governments alike. Extreme weather events are putting an increasing strain on government finances and driving a reevaluation of how catastrophic events are funded. In the context of the ... Continue Reading »
Building National Resilience: A Strategic Framework For Determining Material Risks
As the risk landscape shifts and the devastation from pandemics and weather events are at the forefront of peoples’ minds, there is an opportunity and an imperative that governments and the (re)insurance industry find new means to partner. By leveraging risk management and risk transfer expertise, such partnerships can help communities build greater resilience and recover more q ... Continue Reading »
Building National Resilience: Aligning Mindsets, Capabilities, and Investment
The reinsurance market has established itself as a capable private partner for the public sector in recent years. Putting the capital and capabilities of the reinsurance sector to work to create new coverages and meet evolving demands from public sector entities is a crucial component for reducing disaster suffering. At a time when governments worldwide are forced to bear a ... Continue Reading »
