As the human and economic costs of COVID-19 continue to mount, reinsurers are working with government entities and healthcare executives on how to mitigate the impacts of the virus on the sector. The growing use of telemedicine and capacity constraints within healthcare systems could potentially dull utilization increases; however, the financial costs will still be significant. ... Continue Reading »
Marsh
Employment Liability Claims Set to Rise With COVID-19
As the COVID-19 pandemic continues into the summer, public health concerns are of the utmost importance, and Guy Carpenter is actively developing a view of how COVID-19 may impact businesses as employees begin returning to their offices. And as business activity ramps up from COVID-19-related restrictions, companies are determining just how they will create a safe space for ... Continue Reading »
How America’s Insurance System Can Prepare For a Future Pandemic
The insurance industry, policyholders and governments throughout the world must come together on an approach that offers relief to those who need it now and develop a plan to implement mitigation strategies and a response mechanism for future pandemic events. The scale of this exposure is immense and far beyond the financial capabilities of the insurance industry alone. A ... Continue Reading »
Cybersecurity After COVID-19: 10 Ways to Protect Your Business and Refocus on Resilience
As a sector intrinsically tied to digital technology, cyber insurance is known for its dynamic and evolving nature. In 2019, the cyber insurance industry began to grapple with multiple headwinds such as record General Data Protection Regulation (GDPR) fines and the introduction of new privacy regulations. In 2020, the landscape only became more complicated as the COVID-19 ... Continue Reading »
Pandemic Risk Protection: Accelerate Recovery and Build Resilience Now Through Public-Private Partnership
The insurance industry, policyholders and governments throughout the world must come together on an approach that offers relief to those who need it now and develop a plan to implement mitigation strategies and a response mechanism for future pandemic events. The scale of this exposure is immense and far beyond the financial capabilities of the insurance industry alone. A ... Continue Reading »
Risk Appetite: Altering Philosophies in Uncertain Times
The global economy finds itself in a state of uncertainty in the face of the novel coronavirus (COVID-19), with S&P Global now forecasting a global recession this year, according to a briefing from Guy Carpenter-affiliate Marsh. (1) ... Continue Reading »
Liability Insurance Shoots Up in First Quarter of 2020
Global commercial insurance prices increased 14 percent, on average, in the first quarter of 2020. All three major product lines — property, casualty and financial and professional — showed increases in the first quarter, according to Dean M. Klisura, President of Global Placement and Advisory Services at Guy Carpenter-affiliate Marsh. ... Continue Reading »
Webinar: Cyber Risk in the COVID-19 Pandemic
Marsh & McLennan hosted a recent webinar where cyber experts from affiliates Guy Carpenter, Oliver Wyman and Marsh discussed the impacts of COVID-19 on the cyber threat landscape. The webinar, hosted by Siobhan O'Brien, Head of Guy Carpenter's International Cyber Center of Excellence, delves into how to manage through the immediate crisis, how to evaluate cyber risk and ... Continue Reading »
Improving Liquidity During and After the Pandemic
Beyond its effect on people, the continuing COVID-19 pandemic has had severe effects on the U.S. and global economies. Maintaining liquidity can act as a bridge until economic activity improves, and a number of insurance and risk management strategies can enable that process. A new briefing from Guy Carpenter-affiliate Marsh considers the potential COVID-19-related liquidity ... Continue Reading »
COVID-19: Next Steps for Your Cyber Insurance
Organizations face increased cyber challenges as COVID-19 continues to spread, with core activities often disrupted or needing to be adapted. A new briefing from Guy Carpenter-affiliate Marsh outlines how, as organizations respond to urgent and changing business needs, it is vital that they continue to make cybersecurity a priority. One aspect of this is understanding the ... Continue Reading »
