With the infrastructure boom set to fuel global economic growth over the next decade, the construction industry must address the mounting pressures associated with climate change and the race to net zero greenhouse gas emissions (net zero), according to a report published today by Marsh and Guy Carpenter, both businesses of Marsh McLennan, the world’s leading professional ... Continue Reading »
climate change
Parametric Insurance: A Tool To Increase Climate Resilience
Parametric covers are alternative risk solutions provided by insurance and reinsurance companies that enable organizations to finance or to transfer risk in a non-traditional way. Coverage is triggered based on reaching specific thresholds such as sustained winds of a set speed in miles per hour, providing important protection to pave the way toward recovery from weather ... Continue Reading »
Balancing Act: Reinsurance Market to Balance Abundant Capital, Pricing Discipline
In this interview with The Insurer, Charles Whitmore, President, Global Accounts, Guy Carpenter, discusses how buyers can look forward to a healthy reinsurance market while carriers will be focusing on pricing priorities, and terms and conditions. ... Continue Reading »
(Re)insurance Industry Continues To Demonstrate Resilience in Challenging Market
The convergence of tangible and intangible challenges facing the (re)insurance industry is creating one of the most dynamic and potentially volatile environments in recent market history, yet (re)insurers continue to demonstrate their resilience through their ability to adapt and respond. This is according to panelists at a recent virtual media briefing, Moving Forward, hosted ... Continue Reading »
Video: The State of Wildfire Resilience
This year’s season for wildfires is shaping up to be even more devastating than those of recent years. With reduced humidity, increasing drought and strong winds, how can we build better resiliency? Sydney Hedberg, Associate Director, Marsh McLennan Advantage; Andy Read, Vice President, Public Sector Practice, Guy Carpenter; and Sydney Chamberlin, Climate Policy Associate, ... Continue Reading »
Infrastructure: Accelerating Impacts of Climate Change
Climate change is driving a range of physical, transition, and liability risks in infrastructure. Uncertainty surrounding the various paths to decarbonization challenges traditional business models and existing infrastructure investment approaches. Data analytics can guide the use of adaptation measures and the negotiation of innovative risk transfer solutions. Transparent ... Continue Reading »
Video: Public-Private Partnerships Play Key Role in Tackling Climate Risk
In this video, Josh Darr, Managing Director, Head of North America Peril Advisory for Guy Carpenter, talks about the need for a high-profile champion within the federal government to address climate-related market risks, and the progress we are seeing in this area. ... Continue Reading »
Video: Guy Carpenter’s Will Garland Discusses Mid-Year Renewals
In this episode of The Insurer TV’s Prospective, Will Garland, Guy Carpenter’s President, Centers of Excellence, North America, talks about the impact on mid-year renewals of climate change, social inflation, ongoing claims development, and softening and stabilization of the catastrophe claims environment. ... Continue Reading »
Video: The Tangible Economic Cost of Action Related to Climate Change is High, Inaction Higher
In this video, Josh Darr, Head of North America Peril Advisory, Guy Carpenter, and Jessica Turner, Managing Director, Catastrophe Advisory, Guy Carpenter, highlight how the tangible economic cost of action related to climate change may be high, but the cost of inaction is ultimately higher. They also discuss the scientific advances being made for climate change risk ... Continue Reading »
Video: What Lessons Can We Take From the COVID-19 Experience to Globally Mobilize a Whole-of-Society Response?
In this video, Jessica Turner, Managing Director, Catastrophe Advisory, Guy Carpenter, and Josh Darr, Head of North America Peril Advisory, Guy Carpenter, relate how society mobilized and came together in the pursuit of the same goal in response to COVID, demonstrating that we can use the same focus towards the next group of challenges around climate change, biodiversity, ... Continue Reading »
