David Flandro, Global Head of Business Intelligence, Julian Alovisi, Assistant Vice President and Lucy Dalimonte, Senior Vice President Contact The extent of rising insured losses from global natural catastrophes over the last 40 years is illustrated by Figure 1. This is partly a consequence of insurance penetration and population growth, particularly along coastal regions. The ... Continue Reading »
climate change
A 2012/13 Winter Climate Perspective
James Waller, PhD, Research Meteorologist Contact In recent weeks there has been considerable media attention towards a developing El-Niño climate pattern and the summer's record low polar sea-ice. Naturally, these developments raise questions from insurers that want to know how climate works to influence their portfolio results. ... Continue Reading »
Guy Carpenter Asia-Pacific Climate Impact Centre Publishes Third Annual Report on Region’s Climate
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter & Company and City University of Hong Kong, released its third annual report, which presents the findings of the 27 research projects conducted by GCACIC members on climate issues in the Asia-Pacific region in 2011. ... Continue Reading »
Global Warming Does Not Lead to More Typhoons
Johnny Chan, Dean, School of Energy and Environment, and Director, Guy Carpenter Asia-Pacific Climate Impact Centre City University of Hong Kong Contact Introduction Particularly since the devastation of New Orleans caused by Hurricane Katrina in 2005, many people believe that global warming could lead to more frequent occurrences of intense hurricanes like Katrina. This ... Continue Reading »
The First Annual Report of the Guy Carpenter Asia-Pacific Climate Impact Centre
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC) was established in June 2008 through a donation from Guy Carpenter & Company, LLC and matching funding from the Universities Grants Committee of the Hong Kong Special Administrative Region Government and City University of Hong Kong. ... Continue Reading »
Flooding: The Possible Changes Under Global Warming
Johnny Chan, Director, Guy Carpenter Asia-Pacific Climate Impact Center, City University of Hong Kong Flood events often occur rather suddenly so there may not be enough time to implement disaster mitigation measures. A good understanding of the causes of individual floods is therefore crucial in increasing the lead time for issuing warnings. From the insurance perspective, s ... Continue Reading »
UN Climate Change Conference in Copenhagen
Despite below-average insured losses in 2009, several international (re)insurers believe climate change is impacting both the number and severity of weather-related events. According to Swiss Re (1) , worldwide insured natural catastrophe losses averaged USD5.1 billion per annum between 1970 and 1989, but they jumped to USD27.1 billion per annum between 1990 and 2009. Munich Re ... Continue Reading »
GCACIC Publishes Update on 2009 Tropical Cyclone Conditions
The Guy Carpenter Asia-Pacific Climate Impact Centre, a joint initiative of Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist, and the City University of Hong Kong, announced the publication of an update on 2009 tropical cyclone (TC) activity in the West North Pacific (WNP) region, based on new information for April and May 2009.According to ... Continue Reading »
Climate Change: Article Index
Part I: A Contested Point You Need to Understand >> (Monday, May 25, 2009) Part II: What a Warmer World Could Mean >> (Tuesday, May 26, 2009) Part III: Liabilties Heating Up >> (Wednesday, May 27, 2009) Part IV: (Re)insurance Industry Response >> (Thursday, May 28, 2009) Part V: Reinsurers Remain Vigilant >> (Friday, May 29, 2009) Click here to ... Continue Reading »
Climate Change, Part V: (Re)insurers Remain Vigilant
Christopher Klein, Head of Global Business Intelligence Contact Whether or not you have taken a stance on climate change, the fact remains that this issue will persist in public forum debate and continue to present various risks for the (re)insurance industry. But in addition to factoring potential storm increases into modeling and understanding the possible liabilities that ... Continue Reading »
