Over the last century, tens of millions of lives have been claimed by pandemics, epidemics, and outbreaks that also have wreaked havoc on businesses and damaged national economies. Despite advances in medicine and improved infection control practices, the novel coronavirus (2019-nCoV) outbreak originating in Wuhan, China — which the World Health Organization (WHO) has declared a ... Continue Reading »
Marsh
January 1, 2020, Reinsurance Renewals: A Smooth Transition
The (re)insurance sector is undergoing a period of transition: views of risk are changing and risk appetites are responding accordingly. This shift has manifested itself more acutely in the primary market, as underperformance across multiple lines of business over several years has led to market hardening. This is evidenced by Marsh’s Global Insurance Market Index, which shows g ... Continue Reading »
Deep Dive on Decarbonization of Maritime Industry
Climate change is an increasingly urgent global issue that crosses sectors and geographies. Reducing Green House Gas Emissions (GHG) is at the forefront of many efforts to combat the potentially catastrophic rise in global temperatures, and an area in which shipping has a strong role to play. ... Continue Reading »
Global Risks Report 2020
The 15th edition of the Global Risks Report has been published by the World Economic Forum with support from Marsh & McLennan. Drawing on feedback from nearly 800 global experts who were asked to rank their concerns in terms of likelihood and impact, this year’s report highlights two core threads across the risks landscape: Intensifying confrontations, both between and w ... Continue Reading »
Managing Crowds and Other Threats During the Holidays
Incidents of workplace violence are way more common than they should be. And while this type of violence can be found across industries, workers at retail outlets, bars, and restaurants tend to be more prone to it. The holidays can only make the situation worse, both because of personal stresses and crowded environments, according to Mac Nadel, Food & Beverage Practice ... Continue Reading »
Staying Atop the Changing Cyber Insurance Market Is a Necessity for Boards
Cyber threats are a strategic enterprise risk that require significant focus and time by boards and C-suite members, among other key stakeholders. Yet, many organizations have worryingly low board and executive-level engagement around cyber risk, according to the Marsh Microsoft Global Cyber Risk Perception Survey. ... Continue Reading »
Global Insurance Prices Have Increased Every Quarter for Two Years
Global commercial insurance prices rose by 8 percent in the third quarter of 2019. All three major product lines — property, casualty, and financial and professional — showed increases, with the third quarter of 2019 marking the eighth straight quarter of increases in the Marsh Global Insurance Market Index since its inception in 2012, according to Dean M. Klisura, President, Gl ... Continue Reading »
Cyber Insurance Is Supporting the Fight Against Ransomware
As the cyber insurance market continues to grow, it is only natural to discuss its place in the battle against cyberattacks, including ransomware, which has been a particularly prevalent topic in recent months. Over the last several years, the cyber insurance market has rapidly expanded, and more companies now purchase cyber coverage than ever before. Close to 50 percent of ... Continue Reading »
Amidst Global Growth, Medical Trends Lift Insurance Costs
Medical trends continue to outpace inflation by almost three times — the average global medical trend rate for 2018 was 9.7 percent, with a similar increase expected for 2019 and an even higher rate for 2020. ... Continue Reading »
Terrorism Risk in Europe
The threat of Islamist extremism remains high in Europe, driven in part by radicalized individuals returning from fighting in Iraq and Syria. Religious extremist attacks in the E.U. will likely target the entertainment and hospitality sectors and public spaces frequented by tourists, according to the 2019 Terrorism Risk Insurance Report, from Guy Carpenter affiliate, Marsh. ... Continue Reading »
