Looking forward to the 2020 Atlantic hurricane season, seasonal outlook providers are forecasting an active season in the North Atlantic Basin. The numbers include a forecast of nine hurricanes and four major hurricanes in the Basin, relative to averages of six and two, respectively, according to Phil Klotzbach of Colorado State University. The season is already off to a record ... Continue Reading »
Property
Review of Climate Change Risks on GC Capital Ideas
Here we highlight the recent stories that GC Capital Ideas has presented on managing risks associated with climate change. ... Continue Reading »
Liability Insurance Shoots Up in First Quarter of 2020
Global commercial insurance prices increased 14 percent, on average, in the first quarter of 2020. All three major product lines — property, casualty and financial and professional — showed increases in the first quarter, according to Dean M. Klisura, President of Global Placement and Advisory Services at Guy Carpenter-affiliate Marsh. ... Continue Reading »
Guy Carpenter Enters Exclusive Strategic Agreement with Synthetik to Enhance Terrorism Modeling Capabilities
Guy Carpenter announced today that it has entered into an exclusive multi-year agreement with Synthetik to further enhance its proprietary terrorism modeling product, Sunstone®. ... Continue Reading »
Building National Resilience: Broader Policy Opportunities
As technology evolves, countries face both new opportunities and new risks. Among the most complex and multi-faceted risks for societies today are those related to cyberattacks, which are extremely dynamic in nature and can be devastating to governments, health systems and individuals alike. By partnering with reinsurers, governments can leverage the new technologies at the ... Continue Reading »
COVID-19 Risks Outlook: A Preliminary Mapping and Its Implications
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 »
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 »
