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 »
Top Stories
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 »
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 »
Pandemic Poses a New Catastrophe Paradigm: Part I
This time last year, Guy Carpenter released a report titled The Changing Nature of Risk. The premise of the paper was based around the growing complexity of risk, and the opportunities and challenges confronting the (re)insurance sector as it navigates one of the most significant periods of change in recent times. Although written in the context of loss accumulation, the ... Continue Reading »
Guy Carpenter Addresses Changing Nature of Risk
The (re)insurance industry is navigating one of the most significant periods of change in recent times which is altering perceptions of risk across the sector. The impact of COVID-19, the first globally systemic insurance loss, has put pressure on a marketplace already addressing challenges on multiple fronts. During this period of transformational change, reinsurance continues ... Continue Reading »
