In recent years, the reinsurance market has established itself as a capable private partner for the public sector, as illustrated in its response to major events over the past 30 years. The sector remains well capitalized, and the expertise developed over decades of dealing with market-changing events, including those related to climate change, puts it in an unrivalled position ... Continue Reading »
Property
Wildfire: Understanding and Modeling the Risk
A confluence of excessive heat and lack of precipitation has led to a dangerous wildfire situation in the western United States. As of late September, 75 percent of the western region is in a state of moderate to exceptional drought. The drought, combined with high winds and lightning activity, precipitated the ignition and rapid spread of over 70 large fires in California, ... Continue Reading »
Guy Carpenter Launches GC Access, a Dedicated Program Business Unit Underpinned by Market-Leading Analytics Support
Guy Carpenter announced the launch of a new business unit, GC Access (SM), to provide dedicated MGA program business solutions. ... Continue Reading »
CAT-i Bulletin: Hurricane Delta
Hurricane Delta made landfall near Creole, Louisiana on October 9 as a category-2 hurricane, with maximum sustained winds of 100 mph. Delta moved ashore just east of where Hurricane Laura made landfall in September and impacts were amplified for those areas still recovering from Laura. Delta also brought a threat for heavy rainfall and flooding from Louisiana to the Carolinas. ... Continue Reading »
Why 2020 Has Made the Ever-Evolving Cyber Landscape Even More Dynamic
The insurability of systemic cyber risk will be one of the defining issues of the next decade for the (re)insurance sector. Rapid technological changes and digitalization in particular have already transformed the characteristics of risks assumed by the (re)insurance market. ... Continue Reading »
The Changing Nature of Risk
There is an old adage that “adversity builds character.” However, before adversity builds character, it reveals character, and the numerous catastrophes that have occurred over the last several years combined with the ongoing pandemic have clearly revealed the character of the insurance industry. ... Continue Reading »
Delta on Final Approach to Southwest Louisiana
Hurricane Delta is on final approach to the southwest Louisiana Coast as a category-3 hurricane. The outer bands of the storm have already moved ashore and conditions will deteriorate through the day. The National Hurricane Center forecast is for landfall later this evening as a probable category-2. Delta will then weaken as it moves inland toward the Tennessee Valley. Seawater ... Continue Reading »
Delta to Strengthen and Grow in the Gulf; Takes Aim at Louisiana Coast
Hurricane Delta has regained category-2 strength following landfall yesterday along the Yucatan Peninsula in Mexico. Despite losing a significant amount of strength since Tuesday, Delta is currently a well organized hurricane packing winds of 100 mph and is expected to gradually gain intensity over the next 24 hours due to favorable environmental conditions of warm water, high ... Continue Reading »
Understanding Flood Modeling
Virtually all catastrophe models are based on three fundamental components: hazard, vulnerability and financial impact. The hazard component describes the full range of risk by incorporating information on thousands of possible events simulated by extrapolating data from historical observations, according to Guy Carpenter colleagues Narathip Sutchiewcharn, Senior Vice President ... Continue Reading »
Hurricane Delta Makes Landfall in Mexico; Strengthening on a Path toward US Gulf Coast
Hurricane Delta rapidly intensified to a category-4 hurricane during the day on Tuesday, attaining wind speeds of 145 mph on a path toward the Yucatan Peninsula. A strong than expected shear environment caused Delta to weaken prior to landfall as a category-2 hurricane in Puerto Morelos, Mexico at 5:45 am CDT Wednesday, bringing destructive wind, rain and storm surge to a ... Continue Reading »
