Many of the world’s leading banks and insurers are busy finalizing their response plans to the Bank of England’s innocuous-sounding supervisory statement number SS3/19. It sets out the regulator’s expectations for how banks and insurers should manage the financial risks of climate change, including modification of governance and risk management frameworks, development of scena ... Continue Reading »
insurance
Artificial Intelligence will help automate bespoke policies, says Lloyd’s Maynard; MMC Young Professionals’ Global Forum 2019
Artificial Intelligence (AI) offers the potential to automate how the insurance market delivers truly bespoke insurance products, according to Trevor Maynard, Head of Innovation at Lloyd's. Speaking at the MMC Rising Professionals' Global Forum in London, Dr. Maynard said: "AI raises some really interesting possibilities in terms of automating how we deliver bespoke ... Continue Reading »
Sidecars: Capitalizing on Market Cycles to Improve Client Solutions
Geoffrey Sweitzer, Managing Director, GC Securities* Following U.S. hurricanes Katrina, Rita and Wilma in 2005 and the ensuing "hard" property catastrophe reinsurance market, reinsurers and investors increasingly started turning to sidecar insurance linked securities to access new and replacement capacity. ... Continue Reading »
Healthcare & Cyber Risk – Takeaways
Here are the five key takeaways from the study Holding Healthcare to Ransom by Marsh & McLennan Companies Asia Pacific Risk Center. ... Continue Reading »
Amid Regulatory Scrutiny Financial Institutions Must Monitor Third-Party Cyber Risk
Cybersecurity ranks among the top concerns for banks, insurers, and other financial institutions, which can represent prime targets for cyber-attackers and be vulnerable to potential disruptions because of their often-complex technology systems and the valuable financial assets and rich customer data they can hold. ... Continue Reading »
Better Quantifying Cyber Exposure Will Help Determine Risk Finance Needs
As evidenced by the millions of dollars potentially at stake in a cyber event, financing to help an organization recover from a cyber-attack is more important than ever, with serving insurance a key part of the equation. ... Continue Reading »
Cyber Insurance Adoption is Increasing
The role of insurance in enhancing cyber resilience is increasingly being recognized by policymakers around the world, and the Organisation of Economic Co-operation and Development is recommending actions to stimulate cyber insurance adoption. Globally, it is expected the level of future demand for cyber insurance will depend on the frequency of high-profile cyber incidents as ... Continue Reading »
Exploring the P&C Industry: Recent Market Dynamics and Industry Performance
The property and casualty (P&C) insurance industry continues to face economic and market-based challenges. New risks demand coverage; catastrophes are surfacing in unexpected ways and experience shifts are driving casualty lines' capital needs. In this current environment of disruption and dynamic innovation, managers must analyze all factors in order to adapt to changing ... Continue Reading »
