Here we highlight the most popular stories among our GC@APCIA series, which featured our review of critical issues shaping the reinsurance industry. These were the focus of discussions at the recent APCIA Annual Meeting, which was hosted by Guy Carpenter. ... Continue Reading »
Property
Asia Pacific 2019: Guy Carpenter Asia Pacific Rate-On-Line (ROL) Index Rose
The Guy Carpenter Asia Pacific Rate-On-Line (ROL) Index rose in 2019; this was the first time in nearly a decade that the index did not decline. Price increases were not uniform across the region, but were targeted toward cedents or even specific layers that suffered losses. Consequently, following Typhoon Jebi, which occurred in September 2018, price increases were significant ... Continue Reading »
Global Insurance Prices Have Increased Every Quarter for Two Years
Global commercial insurance prices rose by 8 percent in the third quarter of 2019. All three major product lines — property, casualty, and financial and professional — showed increases, with the third quarter of 2019 marking the eighth straight quarter of increases in the Marsh Global Insurance Market Index since its inception in 2012, according to Dean M. Klisura, President, Gl ... Continue Reading »
How to Protect Data in an Age of Digital Seamlessness
The trend toward digital seamlessness is accelerating; industries from finance to health care are increasingly using seamless technologies to make it easier for consumers to use their products and services. More than four billion people now own a smartphone, with many using them to buy groceries, manage finances, book travel, arrange deliveries or receive health care, according ... Continue Reading »
Survey: Cyberattacks Are the Number One Risk to Doing Business in U.S. and Canada
Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that for business executives in both Canada and the United States, “cyberattacks” are once again – by a large margin – the number one risk to doing business. This is a top risk in Europe and East Asia and the Pacific as well, where it now ranks first and second, respectively. The persistence of this r ... Continue Reading »
Cyberattacks Are Top Concerns Among Business Leaders in the Largest EU Economies
Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that concerns about “cyberattacks” are top among business leaders in the four largest European Union (EU) economies: Germany, France, Italy and the United Kingdom; and rank first in another six countries across the continent. In late 2018 and throughout 2019, European countries have experienced cyber ... Continue Reading »
Chart: Significant Insured Losses – 2011 to Q3 2019
Chart exhibits the significant insured losses from 2011 through the third quarter of this year. Insured loss for the third quarter 2019 is approximately USD 17-19 billion. This quarter’s insured loss is mainly driven by two major events: Typhoon Faxai in Japan and Hurricane Dorian. ... Continue Reading »
Baden Baden: GC@BB Commentary Roundup
Here we highlight the most popular stories among our GC@BB series, which featured our review of critical issues shaping the reinsurance industry. These were the focus of discussions at the recent Baden Baden Reinsurance Symposium, which was hosted by Guy Carpenter. ... Continue Reading »
Marsh & McLennan Names Michael Sevi General Counsel and Chief Compliance Officer of Guy Carpenter
Marsh & McLennan has announced that Michael Sevi has been appointed General Counsel and Chief Compliance Officer of Guy Carpenter effective immediately. Mr. Sevi succeeds Michael Borik, who has served as the General Counsel of Guy Carpenter for the past four years, and will be moving into a joint business and legal role as Managing Director and Chief Counsel of Guy ... Continue Reading »
The Burning Issue: Managing Wildfire Risk
In recent years, countries such as Canada, the United States, Spain, Portugal, Greece and Chile have experienced unusually severe fires, claiming hundreds of lives and causing billions of dollars in damage. Wildfires have also broken out in countries previously unaccustomed to the problem. In 2018, for example, northern European countries experienced between 20 and 200 times ... Continue Reading »
