As capital continues to be drawn to the opportunity of improved pricing conditions across the (re)insurance market, the emerging class of 2020 (re)insurance startups is expected to bring both long-term and committed solutions to brokers and cedents, according to Lara Mowery, Global Head of Distribution at Guy Carpenter. ... Continue Reading »
insurance
COVID-19 Coverage Uncertainties and January Renewals
Reinsurance renewal negotiations are delicately poised, with increasing pressure on rates, economic uncertainty and disputes over COVID-19 wordings putting long-standing relationships to the test, according to a recent article in Insurance Day from Massimo Reina, CEO for Continental Europe at Guy Carpenter. ... Continue Reading »
Health Insurers and COVID-19: Future Impacts
Guy Carpenter has identified certain factors that may impact how large medical insurance carriers adapt to the needs of their insureds and employees in the United States amid COVID-19. ... Continue Reading »
Navigating Legacy Liabilities for Captives
In a recent interview with Captive International, Rob Collins, Managing Director and North American Sales Leader, Guy Carpenter, discussed the tremendous opportunity for Guy Carpenter in the legacy captive space. ... Continue Reading »
Why We Need Community-Based Catastrophe Insurance
The impacts of COVID-19 on individuals, communities and insurers are continuing to unfold and no doubt present uncertainty. However, the current disruption also serves to highlight the importance of lessening reliance on federal financial relief and, instead, creating financial resilience at the community level. ... Continue Reading »
Health Insurers and COVID-19: Background and Timeline
As COVID-19 spreads throughout the United States and the resulting economic disruption continues, medical insurance carriers are responding to the needs of their customers in a rapidly changing market landscape shaped by legislative and competitive conditions. In this article, we provide an overview of how large medical insurance carriers are adapting to the needs of their ... Continue Reading »
COVID-19 Losses and Business Interruption: Leading Up to January 2021 Reinsurance Renewals
With regard to direct COVID-19 losses, many market commentators are revising their initial loss estimates downward, particularly in the domain of property business interruption (BI). Based on third-quarter earnings announcements to date, reported losses for COVID-19 reached just over USD 25 billion, much of which is incurred but not reported. At this time, there are many steps ... Continue Reading »
The Changing Nature of Risk – Casualty Dynamics: Part I
History shows that the insurance market is cyclical, and this is especially true for casualty lines of business. As long-tail casualty lines, the ultimate profitability of a year is not known for many years as changing loss trends and causes may not be recognized until it is too late to protect against adverse development. ... Continue Reading »
Chart: Top 10 Largest Insured Losses vs Projections for COVID-19
The following chart shows how industry loss estimates for COVID-19 put forward by a number of entities compare to other major insured events, in inflation-adjusted terms. As ultimate losses are largely unknown, there is substantial variability within and between estimates for COVID-19, ranging from a low end USD 30 billion to close to USD 100 billion. ... Continue Reading »
Clarity Over Coverage is Critical as COVID-19 Casts a Shadow over January Renewals
Reinsurance renewal negotiations are delicately poised, with increasing pressure on rates, economic uncertainty and disputes over COVID-19 wordings putting long-standing relationships to the test, according to a recent article in Insurance Day from Massimo Reina, CEO for Continental Europe at Guy Carpenter. ... Continue Reading »
