Typhoon Hagibis made landfall in Japan as a category-2 on the Izu Peninsula in the Shizuoka Prefecture on October 12 around 7 PM local time. Large stretches of the country were hit by strong winds and torrential rainfall, and the Japan Meteorological Agency issued warnings and advisories affecting all prefectures in the Honshū, Kyushu, Shikoku and Hokkaido Islands. The highest ... Continue Reading »
Asia Pacific
Chart: Guy Carpenter Asia Pacific Property Catastrophe Rate-on-Line Index 1990 – 2019
The Guy Carpenter Asia Pacific Rate-On-Line (ROL) Index rose in 2019; this was the first time in nearly a decade that the index did not decline. Price increases were not uniform across the region, but were targeted toward cedents or even specific layers that suffered losses. ... Continue Reading »
Managing the New Risks From Emerging Technologies
The same technological developments and tools that are enabling organizations to transform and advance are also introducing their own set of potential threats. ... Continue Reading »
Life Insurance Insights
Here we review recent stories on GC Capital Ideas that provide insights on the new paradigm around life reinsurance. A Dynamic Approach to Managing Life Reinsurance Arrangements: The traditional life reinsurance model typically involves perpetual treaties linked to an underlying product. In order to create alignment between the contracting parties, the treaty would follow ... Continue Reading »
Organizational Enablers for the Future Risk Management Function
The success of the risk function – or any function, for that matter – does not solely depend on the skillsets and roles of individual risk managers. A function’s success also depends on how the company as a whole operates. A recent survey, for instance, found that innovations by one unit often fail to be adopted across the wider company due to issues with how different parts ... Continue Reading »
Asia Region Most affected by Rising Sea Levels
On a global scale, some cities are sinking faster than sea levels are rising, says the Global Risks Report 2019, which was produced by World Economic Forum with the support of Guy Carpenter’s parent company, Marsh & McLennan Companies. Asia will be the worst affected region as a result of a combination of hydrology, population density and asset concentration. Asia is h ... Continue Reading »
A Dynamic Approach to Managing Life Reinsurance Arrangements
The traditional life reinsurance model typically involves perpetual treaties linked to an underlying product. In order to create alignment between the contracting parties, the treaty would follow the underlying terms of the product. However, the treaty structure may concurrently include provisions that reduce alignment between the insurer and reinsurer, to the insurer's ... Continue Reading »
Asia’s Health Care Industry Reels From Cyberattacks
Health care is one of the sectors most vulnerable to cyberattacks, with more than one in four (27 percent) health care organizations reporting that they have been a victim of a cyberattack in the past 12 months. This is more than financial institutions (20 percent) and nearly twice the incidence in the communications, media and technology sector (14 percent). Despite this, ... Continue Reading »
From Risk To Strategy: Embracing The Technology Shift
Technological change and digitalization can help risk functions in Asia Pacific increase their efficiency and effectiveness, but this will require new skills at an individual level, a supportive organizational environment and a well-managed transformation program. ... Continue Reading »
Asia Pacific Focus – Insights from Guy Carpenter
Here we present a recap of recent thought leadership from Guy Carpenter focusing on important insurance and reinsurance topics in Asia Pacific. Understanding Flood Risk in Malaysia Through Catastrophe Modeling: According to Malaysia's Department of Irrigation and Drainage, the many rivers running through the country put about 9 percent of the total land area under flood ... Continue Reading »
