According to Guy Carpenter-affiliate Marsh & McLennan's 2020 Global Risks Perception Survey, climate change and related environmental issues are now the top concerns for companies and governments alike. Extreme weather events are putting an increasing strain on government finances and driving a reevaluation of how catastrophic events are funded. In the context of the ... Continue Reading »
flood
Guy Carpenter Launches Probabilistic Philippines Flood Model
Guy Carpenter today announced the launch of its new Philippines Flood Model. The probabilistic model provides countrywide coverage and enables insurers to assess flood exposure, one of the most frequently occurring natural hazards in the region. ... Continue Reading »
Flood Re in the United Kingdom: Protecting our Planet and the Public Purse
Household insurance in the United Kingdom has historically provided flood coverage universally to all. Coverage nevertheless became threatened following persistent flooding in the 1990s and 2000s, according to Guy Carpenter's Protecting our Planet and the Public Purse report. ... Continue Reading »
Public-Private Partnerships Can Help to Reduce Disaster Suffering: Protecting our Planet and the Public Purse
Victims of flooding events in the United States that are protected by the National Flood Insurance Program (NFIP) recover more quickly, according to Guy Carpenter's Protecting our Planet and the Public Purse report. ... Continue Reading »
Public-Private Partnerships: Protecting our Planet and the Public Purse
Most catastrophe losses, whether caused by natural perils or other events, represent unbudgeted demands on public finances, according to Guy Carpenter's new report, Protecting our Planet and the Public Purse. Money spent to replace critical infrastructure (for example) inevitably draws money and resources away from other important community initiatives. ... Continue Reading »
Sea Level Rise: Protecting our Planet and the Public Purse
Sea level rise due to climate change is considered to be one of the biggest threats to properties and infrastructure worldwide. Global (mean) sea levels rose by about eight inches between 1901 and 2010, and the rate of increase appears to have accelerated in recent decades. Guy Carpenter's new report, Protecting our Planet and the Public Purse, investigates multiple climate ... Continue Reading »
2019 Asia Pacific Catastrophe Reinsurance Report
Guy Carpenter has released its 2019 Asia Pacific Catastrophe Reinsurance Report. The report reviews property catastrophe cover trends; market conditions, including losses and pricing; and catastrophe events in each of the major Asia Pacific countries during 2019. The Executive Summary of the report highlights key findings, including discussion of the various catastrophe ... Continue Reading »
Weather Sentinel: Escalating Tropical Activity – Bermuda, Mexico, Texas, Caribbean
Several tropical storms or hurricanes have developed in recent days to pose a potential threat to property, affecting locations in Bermuda, Mexico and the northwestern Gulf. Hurricane Humberto is expected by the National Hurricane Center (NHC) to make close approach to Bermuda, with the threat of tropical storm and potentially hurricane conditions. In the meantime Tropical ... Continue Reading »
Weather Sentinel: Dorian Intensifies towards the Carolinas
Dorian regained major category 3 strength overnight as it tracks perilously close, if not over, the coast of the Carolinas this evening. If Dorian retains this strength to the coast, it will be the first category 3 hurricane to make landfall in the Carolinas since Fran in 1996. Peak perils of risk that carry high certainty include dangerous storm surge, heavy rainfall i ... Continue Reading »
Weather Sentinel: Dorian Impacts Felt in the United States
Hurricane Dorian began a slow northwesterly track off of Grand Bahama Island on Tuesday afternoon, on a path paralleling the Florida Atlantic coastline. Hurricane force winds are remaining offshore of Florida, however storm surge and wave action along the coastline are causing significant beach erosion and flooding. The forecast for Dorian remains extremely challenging for ... Continue Reading »
