Authors: David Priebe, Chairman, Guy Carpenter, Lara Mowery, Global Head of Distribution, Guy Carpenter and Michael Sevi, General Counsel and Chief Compliance Officer, Guy Carpenter. On January 15, 2021, the UK Supreme Court issued its widely anticipated decision in the Financial Conduct Authority’s business interruption (BI) test case. The FCA brought the test case to ... Continue Reading »
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Video: Heightened Volatility and Prolonged Uncertainty To Drive Reinsurance Demand in 2021
David Priebe, Chairman, Guy Carpenter, highlights how, while the industry is facing a range of new risks in 2021, it is presented with new opportunities. ... Continue Reading »
Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap
A new report from Guy Carpenter, Marsh & McLennan Advantage, and the Wharton Risk Management and Decision Processes Center, Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap, sets out an innovative model to deliver insurance and help communities close the disaster protection gap. ... Continue Reading »
Marsh & McLennan and The World Economic Forum Present The Global Risks Report 2021
The 16th edition of the Global Risks Report, published by the World Economic Forum with support from Marsh & McLennan, highlights the disruptive implications of major risks, including the COVID-19 pandemic, that may reshape our world in 2021 and over the next decade. ... Continue Reading »
Rate Movements Moderated by Availability of Capacity as Negotiations Center on Pricing and Terms at January 1, 2021 Renewals
Price increases at the January 1, 2021 reinsurance renewals were moderated compared to initial expectations by abundant capital levels and an increased willingness on the part of reinsurers to deploy capacity in several sectors, according to Guy Carpenter. ... Continue Reading »
Catastrophe Bond Activity: Looking Towards 2021
Catastrophe bonds are set to buck the trend elsewhere in the insurance-linked securities (ILS) market, with a strong issuance pipeline for the fourth quarter of 2020 and first quarter of 2021, according to Des Potter, Managing Director, ILS origination and structuring at GC Securities*. ... Continue Reading »
Video: Cyber Underwriters Avoid COVID-19 Exclusions Even as Ransomware Concerns Soar
As we all move to working from home and remote locations, the increased risk of cyber attacks has become more prevalent. COVID-19 has presented an opportunity for rogue actors to attack vulnerable companies and indeed individuals. For some, working from home can mean more lax security. This has resulted in the cyber underwriting fraternity asking more questions around COVID-19, ... Continue Reading »
Clarity Over Coverage is Critical as COVID-19 Casts a Shadow over January Renewals
Reinsurance renewal negotiations are delicately poised, with increasing pressure on rates, economic uncertainty and disputes over COVID-19 wordings putting long-standing relationships to the test, according to a recent article in Insurance Day from Massimo Reina, CEO for Continental Europe at Guy Carpenter. ... Continue Reading »
Leading Up to January 2021 Reinsurance Renewals
Guy Carpenter’s new briefing, Leading Up to January 2021 Reinsurance Renewals, highlights the myriad market developments providing the backdrop to January 1, 2021 renewals. As we look forward to January 1 renewals, there is some good news: primary rates are increasing, asset values are recovering and new capital is entering the market. The market, however, is complex. ... Continue Reading »
Video: The Reinsurance Market and Climate Change
Guy Carpenter recently participated in a series of videos with The Insurer, in which experts from throughout Guy Carpenter opine on different aspects of the contemporary risk landscape. ... Continue Reading »
