The threat of Islamist extremism remains high in Europe, driven in part by radicalized individuals returning from fighting in Iraq and Syria. Religious extremist attacks in the E.U. will likely target the entertainment and hospitality sectors and public spaces frequented by tourists, according to the 2019 Terrorism Risk Insurance Report, from Guy Carpenter affiliate, Marsh. ... Continue Reading »
Weather Sentinel: Tropical Storm Dorian – Escalating Threat
Tropical Storm Dorian has regained structure and strength since crossing the Windward and Leeward Islands. It now appears that the storm will pass near or over the Virgin Islands over the coming hours. It is probable that the storm will strengthen to a hurricane later today. Hazards of concern include tropical storm wind conditions, heavy rainfall with some inland flooding, and ... Continue Reading »
United Kingdom Will Face Labor Shortages in a Post-Brexit World
Profound demographic shifts are shrinking the global supply of workers with surprising speed. Post-Brexit, a points or quota system seems likely to control migration to the United Kingdom. Coupled with the demographic changes, this could create significant challenges for the U.K. labor force. The peak migration demographic of 20- to 34-year-olds has been falling within the ... Continue Reading »
Weather Sentinel: End of August Atlantic Update
Heading into the peak of the Atlantic hurricane season over the next 30 days, an uptick in activity is transpiring with Tropical Storm Dorian in the Caribbean and Tropical Depression #6 off the Eastern Seaboard of the United States. Along with Chantal from last week, this recent activity takes place after seasonal hurricane outlooks for the Atlantic Basin were increased in ... Continue Reading »
Chart: Significant Insured Losses – 2011 to Q2 2019
Chart exhibits the significant insured losses from 2011 through the second quarter of this year. First-half 2019 losses are at levels below those experienced in first-half 2017 and 2018. ... Continue Reading »
What Is Changing in the U.S. Healthcare Reinsurance Market?
Traditionally, healthcare reinsurers offered a robust model to customers, with additional services including claims analysis, access to vendor contracts in high-cost, specialty areas like organ transplant or dialysis, nurse hotlines, pre-natal teams and general expertise on "who to call" regarding specific claimant issues. Low loss ratios — around 65-75 percent — and high lev ... Continue Reading »
Week’s Top Stories: August 17 – 23, 2019
Guy Carpenter Selected by CEA on Wildfire Fund Reinsurance and Risk Transfer Program: Guy Carpenter & Company today announced its appointment as the sole reinsurance intermediary for the newly formed California Wildfire Fund, which is currently being administered by the California Earthquake Authority. Read the article >> Global Insurance Prices Are on the Rise: ... Continue Reading »
Property Terrorism Insurance Take-Up Rates Higher in Major Metropolitan Areas
Companies based in the Northeast United States have traditionally purchased property terrorism insurance at a higher rate than companies based in other regions. Unsurprisingly, 80 percent of companies based in New York purchased terrorism insurance in 2018, tying it with Chicago for the lead among major U.S. cities that are perceived as higher-value targets for terrorist ... Continue Reading »
Directors & Officers Liability: Three Emerging Areas to Watch
As business risk evolves, the pressures on company boards and officers are growing. Gone are the days when the main concerns of directors and officers were related to company mismanagement and misrepresentation claims, according to Sarah Downey, D&O Product Leader, at Guy Carpenter affiliate, Marsh. Chief among potential risks that boards must now deal with are: emerging ... Continue Reading »
Guy Carpenter Selected by CEA on Wildfire Fund Reinsurance and Risk Transfer Program
Guy Carpenter & Company today announced its appointment as the sole reinsurance intermediary for the newly formed California Wildfire Fund, which is currently being administered by the California Earthquake Authority (CEA). Guy Carpenter will provide strategic reinsurance and advisory services to develop a risk transfer and reinsurance strategy for the California ... Continue Reading »
