A community-based catastrophe insurance (CBCI) program clearly defines before a disaster what type of support will be given to individuals. This facilitates better individual risk management and planning than reliance on uncertain aid. Also, the inclusion of a risk signal in a CBCI program — for example, via a risk reduction surcharge — requires and supports raised awareness of ... Continue Reading »
flood
Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap
A new report from Guy Carpenter, Marsh & McLennan Advantage, and the Wharton Risk Management and Decision Processes Center, Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap, sets out an innovative model to deliver insurance and help communities close the disaster protection gap. ... Continue Reading »
Guy Carpenter/Flood Re Webinar Highlights Critical Importance of Enhanced Planning and Collaboration to Boost Flood Resilience
The dual challenges of increasing flood risk in the United Kingdom and the impact of climate change are demanding improved planning, greater adaptability and proactive engagement across multiple stakeholders to better identify climate-related exposures and enhance resilience measures, particularly in the built environment. This is according to industry policy and building ... Continue Reading »
Guy Carpenter Launches Probabilistic Vietnam Flood Model
Guy Carpenter today announced the launch of its new Vietnam Flood Model. The fully probabilistic model provides countrywide coverage and enables insurers to assess their exposure to floods, which affect 70 percent of the country’s population. ... Continue Reading »
Understanding Flood Modeling
Virtually all catastrophe models are based on three fundamental components: hazard, vulnerability and financial impact. The hazard component describes the full range of risk by incorporating information on thousands of possible events simulated by extrapolating data from historical observations, according to Guy Carpenter colleagues Narathip Sutchiewcharn, Senior Vice President ... Continue Reading »
Guy Carpenter Launches Probabilistic Indonesia Flood Model
Guy Carpenter announced the launch of its new Indonesia Flood Model. The fully probabilistic model provides countrywide coverage and enables insurers to assess their exposure to floods, the most frequently occurring natural peril in the country. ... Continue Reading »
Climate Change Is Now Driving Investments in Flood Resilience
As climate change and the associated increase in natural catastrophe events alters the contemporary risk landscape, there is now an opportunity for governments to partner with the (re)insurance market and put its expertise to work. After a flood event, companies need to take into account both the short-term imperatives to get up and running quickly and the longer-term need ... Continue Reading »
The Marsh & McLennan Advantage Podcast: Climate Resilience in Focus
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 »
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 »
