The 2021 Global Risks Report posits that climate change impacts cannot be ignored. Here we bring together a roundup of recent GC Capital Ideas posts focusing on climate change. The 2021 Global Risks Report is published by the World Economic Forum with support from Marsh McLennan. A Hot Opportunity – Four Trillion Reasons To Accelerate the Energy Transition: Today, it is ... Continue Reading »
Marsh McLennan
Tailoring the Community-Based Catastrophe Insurance Program to the Needs of the Community
The first step in the iterative five-part process that can guide communities as they consider implementation of a community-based catastrophe insurance (CBCI) program, is “Defining the Need or Problem” that the community is trying to solve. ... Continue Reading »
Community-Based Catastrophe Insurance Creates Incentives for Community-Level and Individual Risk Reduction
The alignment with community-level risk reduction is a potential benefit of community-based catastrophe insurance (CBCI). Because standard disaster insurance policies apply at the level of individual properties, using insurance to incentivize mitigation of community scale hazards, such as levees or ecosystem-based interventions, for example, restored wetlands¹, creates inherent ... Continue Reading »
Foresight on Frontier Risks
COVID-19 has demonstrated the rapid and cascading impacts of a global catastrophic risk manifested. Pandemics — as well as climate change, debt crises, cyberattacks and others — are high-likelihood, high-impact risks on which the Global Risks Report, published by the World Economic Forum in partnership with Marsh & McLennan, focuses each year. ... Continue Reading »
AI Could Be As Harmful As It Is Helpful — Depending on How You Use It
Artificial intelligence (AI) has embedded itself into the business landscape. No longer the purview of Big Tech companies alone, firms across various industries are actively integrating AI into their processes, acquiring tech startups and scouting opportunities to deploy the technology in the near future. COVID-19 has only accelerated this trend as businesses have had to ... Continue Reading »
Better Pathways Are Available To Manage Risks and Enhance Resilience
Despite some remarkable examples of determination, cooperation and innovation, most countries have struggled with aspects of crisis management during the global pandemic. While it is early to draw definitive lessons, the 2021 edition of the Global Risks Report, published by the World Economic Forum in partnership with Marsh & McLennan, reflects on global preparedness by ... Continue Reading »
A Roadmap to Implementation of a Community-Based Catastrophe Insurance Program
Once community officials, staff, or residents are interested in further considering community-based catastrophe insurance (CBCI), there is an iterative five-part process that can guide them as they consider possible implementation. These are not necessarily sequential steps – it may be necessary to go back and forth among them multiple times. Before arriving at the decision to ... Continue Reading »
Future Preparedness for Global Risks
While global risks outlined in the Global Risks Report, published by the World Economic Forum with support from Marsh & McLennan, are dire, lessons from COVID-19 offer an opportunity for mitigation. Global risks — pandemics among them — crystalize differently, but cross-cutting capabilities and systemic approaches to strengthen the overall resilience of countries, ... Continue Reading »
Institutional Structures for Community-Based Catastrophe Insurance Solutions
Community-based catastrophe insurance (CBCI) solutions have the potential to enhance the financial resilience of communities and their residents, provide affordable and reliably available disaster insurance, and create incentives for community-level and individual risk reduction. Four broad institutional structures for CBCI illustrate the different roles and ... Continue Reading »
Outlook for the “Pandemial” Generation: 2021 Global Risks Report
Young adults (ages 15–24) around the world are experiencing their second major global crisis within a decade: (1) they entered youth in the throes of the financial crisis, (2) and are now exiting at the outset of a pandemic not seen in generations. They will face serious challenges to their education, economic prospects and mental health. The outlook for this generation had ... Continue Reading »
