Dry and windy conditions persisted across southern California Wednesday and overnight into Thursday fanning the flames of existing fires and sparking numerous new fires. Despite the difficult conditions fire suppression crews were able to gain additional containment of the Getty Fire, limiting significant further growth. The same dry and windy conditions allowed for rapid ... Continue Reading »
Property
Marsh & McLennan Companies Cyber Handbook 2020
Cyberattacks are viewed by business leaders as the number one risk in advanced economies for the second year in a row, according to the latest World Economic Forum executive opinion survey. This widespread and continuing apprehension about cybersecurity is reinforced by the results of the Marsh | Microsoft 2019 Global Cyber Risk Perception Survey, which found almost 80 percent ... Continue Reading »
Weather Sentinel: Continued Extreme Fire Weather in California
Diminished winds on Tuesday allowed for increased containment and limited growth of many fires currently burning in California including the Getty Fire in Los Angeles and the Kincade Fire in Sonoma County. Fire weather conditions are expected to worsen starting Wednesday morning as a near record strength Santa Ana wind event is expected to impact southern California through ... Continue Reading »
Modeling Insights
Here we review recent GC Capital Ideas posts covering insights on modeling. Terror: The Role of Technology and Analytics: Terrorism, political violence and other malicious acts differ from other insurable perils in that they are dynamic and adaptive; there is human intent driving the probability and willing the impacts to change. Historic incidents show past trends, but ... Continue Reading »
Weather Sentinel: Extremely Critical Wildfire Weather
Overnight, firefighters took advantage of a break in Santa Ana wind conditions to enhance containment of the Kincade Fire in Northern California, and the Getty Fire in Southern California. Collectively, nearly 135 structures have been lost, while many thousands remain threatened and evacuated. Offshore flow is forecast to strengthen during the mid-day in the Bay Area and ... Continue Reading »
Environmental Risks Are the Leading Concerns for Doing Business Across East Asia and the Pacific
Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that environmental risks are the leading concerns for doing business across East Asia and the Pacific, with “natural catastrophes” ranking first and “extreme weather events” ranking fifth. The concerns about “natural catastrophes” were heavily driven by responses from Japan and New Zealand, where they ... Continue Reading »
Weather Sentinel: Ongoing California Wildfire Activity
Ongoing dry and windy conditions across California have hampered containment and suppression efforts of already burning fires and have allowed for rapid growth of newly ignited fires. The Kincade Fire in Sonoma County grew significantly over the weekend due to increased winds, forcing large-scale evacuations. The newly ignited Getty Fire in Los Angeles has forced evacuation ... Continue Reading »
Weather Sentinel: Wildfire Activity in California
Several fires ignited yesterday across the state of California, and grew quickly under extreme fire weather conditions. As of Friday morning, 49 structures have been destroyed in the Kincade Fire, burning in Northern California near Geyserville, while the Tick Fire in Southern California has jumped Hwy 14 and is threatening communities near Santa Clarita. Fire weather c ... Continue Reading »
Terror: The Role of Technology and Analytics
Terrorism, political violence and other malicious acts differ from other insurable perils in that they are dynamic and adaptive; there is human intent driving the probability and willing the impacts to change. Historic incidents show past trends, but those are only partial drivers of future trends as terrorists adapt their tactics in response to past effectiveness and current ... Continue Reading »
Structured Capital Partnerships: An Evolution of the P&C Reinsurance Business Model
Over the past two decades, alternative capital has grown to represent almost a quarter of the total reinsurance industry capital. Insurance-linked securities (ILS), sidecars and collateralized reinsurance continue to provide valuable capacity to (re)insurers, corporates, and public sector entities to efficiently manage capital and risk alongside traditional market solutions, ... Continue Reading »
