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 »
flood
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 »
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 »
Modeling Insights
Here we review recent GC Capital Ideas posts covering insights on modeling. A Risk Overview of Wildfire: Today, the frequency and severity of wildfires are garnering greater attention - not only from the media, but also from (re)insurers, catastrophe modelers, mitigation experts and other invested parties. Read the article >> Understanding Flood Risk in Malaysia ... 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 »
The Middle East and North Africa Risks Landscape
The results of climate inaction are becoming increasingly clear. The year 2018 was the fourth warmest on record (1). In the MENA region, Algeria had the hottest temperature - 51.3ºC - ever reliably recorded across the whole of Africa, and Oman recorded a minimum temperature of 42.6ºC (2). Rising temperatures led the United Nations to warn that melting ice sheets were causing s ... Continue Reading »
Flood Risk Challenges in Asia
Flood is one of the most significant natural catastrophe perils, globally accounting for nearly 40 percent of all catastrophe events. In 2017, floods accounted for nearly half of the natural catastrophe events and 65 percent of natural catastrophe deaths in the world - two thirds of the deaths occurring in Asia. According to the Lloyd's City Risk Index, which examines flood ... Continue Reading »
Understanding Flood Risk in Malaysia Through Catastrophe Modeling
Narathip Sutchiewcharn, Senior Vice President and Claudio Saffioti, Catastrophe Model Developer Contact 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 risk, potentially affecting 2.7 million people. Rapid urbanization is only going to worsen the problem through ... Continue Reading »
