In a report published this month by Guy Carpenter, we analyze how an accumulation of losses from recent extreme weather events, the specter of climate change and higher loss cost trends in a number of long-tail business lines are forcing carriers to reassess views of risk. Capital inflow levels and risk appetites are responding accordingly, according to Robert Bentley, CEO, ... Continue Reading »
Market Conditions Shift as (Re)insurers Adjust to the Changing Nature of Risk
The growing complexity of risk is manifesting itself in the (re)insurance sector as underwriting assumptions are being challenged, and capital inflow levels and risk appetites respond accordingly. Crucially, the accumulation of losses from a range of diverse natural catastrophe perils in 2017 and 2018 has brought an end to years of soft (re)insurance market conditions as ... Continue Reading »
Weather Sentinel: Hurricane Dorian Passing Outer Banks – Weekend Atlantic Canada Threat
Hurricane Dorian continued to move along the coast of the Carolinas over the last 24 hours, bringing heavy rainfall, storm surge and tropical storm to hurricane conditions for eastern portions of the Carolinas. Considerable tornado activity was also reported, with substantial damage to certain areas evident from initial media reports. Landfall occurred this morning as a ... Continue Reading »
Week’s Top Stories: August 31 – September 6, 2019
Weather Sentinel: Dorian Intensifies towards the Carolinas: Dorian regained major category 3 strength overnight as it tracks perilously close, if not over, the coast of the Carolinas this evening. If Dorian retains this strength to the coast, it will be the first category 3 hurricane to make landfall in the Carolinas since Fran in 1996. Peak perils of risk that carry high c ... Continue Reading »
Weather Sentinel: Dorian Intensifies towards the Carolinas
Dorian regained major category 3 strength overnight as it tracks perilously close, if not over, the coast of the Carolinas this evening. If Dorian retains this strength to the coast, it will be the first category 3 hurricane to make landfall in the Carolinas since Fran in 1996. Peak perils of risk that carry high certainty include dangerous storm surge, heavy rainfall i ... Continue Reading »
Guy Carpenter and CyberCube Report Reveals Potential Impact of Cyber Catastrophe Scenarios on U.S. Cyber Insurance Industry
Guy Carpenter and CyberCube Analytics released the findings of a joint report that explores the size and shape of potential cyber catastrophes and the resulting financial impact on the U.S. cyber insurance market. The report, “Looking Beyond the Clouds: A U.S. Cyber Insurance Industry Catastrophe Loss Study,” examined some of the key drivers of cyber catastrophe scenarios and ... Continue Reading »
Weather Sentinel: Dorian Impacts Felt in the United States
Hurricane Dorian began a slow northwesterly track off of Grand Bahama Island on Tuesday afternoon, on a path paralleling the Florida Atlantic coastline. Hurricane force winds are remaining offshore of Florida, however storm surge and wave action along the coastline are causing significant beach erosion and flooding. The forecast for Dorian remains extremely challenging for ... Continue Reading »
The Groundbreaking Science Impacting Large Medical Claims
The real drivers of multimillion dollar medical claims are likely to come in the innovative new treatments that are being developed right now. Understanding what is coming down the Food and Drug Administration (FDA)-approved pipeline is the first step towards being adequately prepared. With the prospect of more innovation driving high cost medical claims, insurers have options ... Continue Reading »
Weather Sentinel: Weakening Hurricane Dorian – Ongoing Threats
Hurricane Dorian has rendered exceptionally severe impacts to portions of the northwestern Bahamas over the last 36 hours. In the meantime the storm has since weakened to a strong category-2 hurricane, and has developed a slow northwesterly motion in recent hours. The National Hurricane Center (NHC) best forecast takes Dorian parallel and offshore of the Florida Atlantic coast ... Continue Reading »
Amidst Global Growth, Medical Trends Lift Insurance Costs
Medical trends continue to outpace inflation by almost three times — the average global medical trend rate for 2018 was 9.7 percent, with a similar increase expected for 2019 and an even higher rate for 2020. ... Continue Reading »
