Last spring, workplaces across the world closed as COVID-19 spread. Millions of employees made the overnight shift to working from home, some from their couch, kitchen table or bedroom floor. Guy Carpenter, our clients and reinsurers were all up and running very quickly as we moved from our traditional office environments to remote working locations. We are proud of how the ... Continue Reading »
pandemic
Creating More Opportunity for Women in the Post-Pandemic World
Gender equality isn’t just about strong female role models. It has to involve society more broadly — how women are perceived, what opportunities they are afforded and how economic change affects them, according to Rupal Kantaria, Partner at Oliver Wyman. ... Continue Reading »
Chart Room: Insured Losses
Here we bring together GC Capital Ideas Chart Room entries covering recent data on insured losses. ... 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 »
Chart: Top 10 Largest Insured Losses Versus Projections for COVID-19
Company-reported COVID-19 losses are near USD 30 billion. When added to 2020 large losses, total loss is approximately USD 110 billion. Using the mid-point of public COVID-19 loss estimates, a number in excess of USD 140 billion is generated. ... 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 »
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 »
Reinsurance Implications of the United Kingdom’s Business Interruption Test Case
Authors: David Priebe, Chairman, Guy Carpenter, Lara Mowery, Global Head of Distribution, Guy Carpenter and Michael Sevi, General Counsel and Chief Compliance Officer, Guy Carpenter. On January 15, 2021, the UK Supreme Court issued its widely anticipated decision in the Financial Conduct Authority’s business interruption (BI) test case. The FCA brought the test case to ... Continue Reading »
Global Risks Report 2021: Drive Towards Technology Governance
Rapid technological changes, digitalization in particular, have already transformed the characteristics of risks assumed by the (re)insurance market. COVID-19 will only accelerate these trends. Cyber is a working example of how the risk transfer sector is capable of responding to transformative developments, and it provides a glimpse into the growth potential on offer as new ... Continue Reading »
2021 Global Risks Report: A Focus on Climate Change
As climate change, the increase in natural catastrophe events and the COVID-19 pandemic alter the contemporary risk landscape, there is now an opportunity for governments to partner with the (re)insurance industry and put its expertise to work. ... Continue Reading »
