With heightened economic uncertainty and increasingly decentralized threats, regional understanding of risks – and the opportunity for cooperation – is critical. Results from the World Economic Forum’s 2019 Executive Opinion Survey suggest that the threat of a major economic slowdown is high on the minds of business leaders worldwide, with growing apprehension about a wide ra ... Continue Reading »
natural catatastrophe
Weather Sentinel: Hurricane Dorian – Category 5 – Landfall in Bahamas, Impacts to US Still Uncertain
Hurricane Dorian strengthened to a category-5 hurricane overnight and is moving over Abaco Island on a slow path west toward the United States. The Northern Bahamas Islands are experiencing a storm surge of 15 to 20 feet above tide level in areas of onshore winds, coupled with destructive waves, rainfall in excess of 20 inches, and hurricane force winds. Much uncertainty ... Continue Reading »
Guy Carpenter Selected by CEA on Wildfire Fund Reinsurance and Risk Transfer Program
Guy Carpenter & Company today announced its appointment as the sole reinsurance intermediary for the newly formed California Wildfire Fund, which is currently being administered by the California Earthquake Authority (CEA). Guy Carpenter will provide strategic reinsurance and advisory services to develop a risk transfer and reinsurance strategy for the California ... Continue Reading »
A Risk Overview of Wildfire
Today, the frequency and severity of wildfires are garnering greater attention-not only from the media, but also from (re)insurers, catastrophe modelers, mitigation experts and other invested parties. As the industry searches for better understanding of this dynamic risk, Guy Carpenter’s GC Wildfire Diagnostic (SM) helps carriers differentiate and drive profitable growth u ... Continue Reading »
Barry Decays, Yet Remains Major Inland Flood Threat
After Barry's brief time as a hurricane on Saturday during landfall on the central Louisiana coast, the hurricane weakened rapidly on Sunday but still remains a formidable inland flood threat. The combination of slow movement and continued flow off the Gulf of Mexico is resulting in widespread inland flooding across Louisiana, Arkansas, Mississippi, western Tennessee and ... Continue Reading »
Barry Upgraded to Hurricane Status While Moving Ashore
According to advisories of the National Hurricane Center (NHC), Tropical Storm Barry was upgraded to hurricane status while moving ashore about 40 miles south of Slidell, Louisiana at 11AM EDT Saturday. The storm has since been downgraded by the NHC to tropical storm status as it continues to move inland. Impacts due to flooding and wind have already been reported in affected ... Continue Reading »
Tropical Storm Barry – Significant Flood Threat Expected
Tropical Storm Barry has shown steady strengthening over recent hours, and now sits about 115 miles south-southeast of Morgan City, Louisiana. The storm is expected to continue on a slow turn to the north over the next 24 hours or so, to move ashore over the central Louisiana coast as a probable hurricane early Saturday. Model guidance has shown somewhat better agreement in ... Continue Reading »
Tropical Storm Barry
The northern Gulf disturbance was upgraded this morning to Tropical Storm Barry, and sits about 90 miles from the mouth of the Mississippi River. The storm is expected to move very slowly to the north and west over the coming days, to move ashore in Louisiana as a hurricane sometime early Saturday. There remains considerable uncertainty on track and especially intensity. ... Continue Reading »
Potential Hurricane Threat – U.S. Northern Gulf
There is an escalating threat for hurricane landfall on the U.S. Northern Gulf Coast over the coming days from a disturbance now located offshore of the Florida Panhandle. There remains considerable uncertainty in forecast specifics, but landfall on the Louisiana or perhaps the Texas coast appears most probable given current model guidance. The threat of landfall with hurricane ... Continue Reading »
Searles Valley Earthquake Sequence: Mw 6.4 and Mw 7.1 Events
Summary A pair of significant earthquakes struck the Searles Valley, California area (Kern County) on July 4 and 5, 2019, according to the U.S. Geological Survey (USGS). On July 4, an estimated Mw 6.4 earthquake occurred approximately 11 miles (18km) ENE from Ridgecrest (population approximately 28,000) around 10:33 AM local time. This was followed by a larger Mw 6.9 ... Continue Reading »
