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 »
Catastrophe
Closing The Gap: Insurance Penetration and Public Sector Risk Financing in Asia Pacific
In recent years, the issue of low penetration in catastrophe insurance across the growing economies of Asia Pacific, and the critical protection gap between economic losses caused by natural disaster events and insurance-covered losses are receiving the attention they merit. The insurance industry can play a significant role in narrowing the gap to help ensure sustainable ... Continue Reading »
Building for Resilience: How to Avoid a Catastrophe Model Failure: Part IV
Imelda Powers, Global Chief Catastrophe Modeler Contact Valuation Assumptions There is no database of agreed property, contents or business interruption valuations among vendors or insurers. Any user's particular valuation may come from databases of property prices, or rebuild values from claims adjusters and building surveyors. If the model's assumed valuations are ... Continue Reading »
Building for Resilience: How to Avoid a Catastrophe Model Failure: Part III
Imelda Powers, Global Chief Catastrophe Modeler Contact If resources permit, an insurer may carry out additional, micro level model suitability analyses - including a review of model hazards and vulnerabilities using the latest scientific literature and engineering studies. Guy Carpenter's Model Suitability Analysis (MSA)® framework is designed to guide users through such ... Continue Reading »
Building for Resilience: How to Avoid a Catastrophe Model Failure: Part II
Imelda Powers, Global Chief Catastrophe Modeler Contact Model Suitability Analysis There is a repertoire of tests, at both the macro and micro levels, to evaluate the merits of a CAT model. Regardless of resources, insurers should analyze how each test's result informs their view of risk. Here we review the macro level. ... Continue Reading »
Risk Financing Strategies Needed as Exposure to Flood Increases
The affordability of flood resilience will become an increasingly critical issue as rising sea levels and urbanization expose a growing number of people and population centers to floods, says the World Economic Forum's Global Risk Report 2019. The 14th edition of the Global Risks Report, prepared with the support of Guy Carpenter's parent company, Marsh & McLennan ... Continue Reading »
Building for Resilience: How to Avoid a Catastrophe Model Failure: Part I
Imelda Powers, Global Chief Catastrophe Modeler Contact Since commercial catastrophe (CAT) models were first introduced in the 1980s, they have evolved as new scientific discoveries and claims insights emerged. Despite the sophisticated nature of each new generation of CAT models, occasionally a model misses a significant loss driver for a particular peril. This occurs ... Continue Reading »
Mw 6.7 Earthquake – Near Coquimbo, Chile
A magnitude (Mw) 6.7 earthquake was reported near Coquimbo, Chile around 01:32 UTC January 20, according to the U.S. Geological Survey (USGS). The epicenter was located at a depth of 53 km (33 miles) and about 15 km (9 miles) SSW of Coquimbo, Chile, between the regions of Atacama and O’Higgins. Media reports to date indicate variable damage to property and infrastructure, a ... Continue Reading »
Chart: Global Property Catastrophe ROL Index
The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2019. Click here to view additional materials in GC Capital Ideas’ Chart Room >> Click here to register to receive e-mail updates >> ... Continue Reading »
GC Capital Ideas: CAT-i Stories: Fourth Quarter 2018
Here is a look back at the CAT-i articles from October 1 through December. Mw 7.0 Earthquake – Near Anchorage, Alaska: The magnitude (Mw) 7.0 earthquake near Anchorage, Alaska, on November 30 occurred at a depth of 44.1 km as the result of a slip on an intraslab fault within the subducting Pacific slab. According to the United States Geological Survey, the faulting involved a ... Continue Reading »
