Pricing for the property sector generally settled at the lower end of expected increases outside of more constrained segments at January 1. Where placements were loss impacted, particularly in cases where retentions were perceived to be too low, reinsurers held firmer on pricing or structure adjustments. ... Continue Reading »
pandemic
Rate Movements Moderated by Availability of Capacity as Negotiations Center on Pricing and Terms at January 1, 2021 Renewals
Price increases at the January 1, 2021 reinsurance renewals were moderated compared to initial expectations by abundant capital levels and an increased willingness on the part of reinsurers to deploy capacity in several sectors, according to Guy Carpenter. ... Continue Reading »
Video: Negotiating the Fine Print of Pandemic Coverage Exclusions
Changes in reinsurance terms and conditions, notably the exclusion of pandemic cover in new and renewing contracts, will be a key feature of discussions as January 1 renewal negotiations come to a close in the coming days. ... Continue Reading »
A.M. Best COVID-19 Stress Test
In May 2020, A.M. Best announced details of its COVID-19 stress test. The assumptions for its stress test are as follows: ... Continue Reading »
Recent GC Capital Ideas Posts on Cyber
Here we showcase the recent stories that GC Capital Ideas has presented on cyber risks. Particular topics of focus include silent cyber and the intersection of COVID-19 and cyber risk. ... Continue Reading »
COVID-19 Coverage Uncertainties and January Renewals
Reinsurance renewal negotiations are delicately poised, with increasing pressure on rates, economic uncertainty and disputes over COVID-19 wordings putting long-standing relationships to the test, according to a recent article in Insurance Day from Massimo Reina, CEO for Continental Europe at Guy Carpenter. ... Continue Reading »
It’s Time for Insurance to Catch Up to the Intangible Asset Revolution
The COVID-19 pandemic and social unrest in 2020 remind us that the insurance industry’s challenges might change on a year-to-year basis, but they will never end. COVID-19 may represent the vanguard of a series of public health crises arising out of climate change, income inequity, fraying social safety nets, demographic imbalances, resource shortages and increasingly stressed u ... Continue Reading »
COVID-19’s Impact on Ratings
In March 2020, A.M. Best began evaluating the impact of the pandemic on ratings. Actions included implementing an operations survey for all rated entities, stress testing Best’s Capital Adequacy Ratio (BCAR) levels on all rating units and modifying sector outlooks. ... Continue Reading »
Health Insurers and COVID-19: Future Impacts
Guy Carpenter has identified certain factors that may impact how large medical insurance carriers adapt to the needs of their insureds and employees in the United States amid COVID-19. ... Continue Reading »
COVID-19: Employer-Sponsored Healthcare Plans
Approximately 49 percent of the U.S. population is covered by employer-sponsored health plans (2018 figures from the Census Bureau’s American Community Survey 2008-2018 sponsored by the Kaiser Family Foundation). Health insurers are partnering with their insureds to navigate issues around employers’ and employees’ ability to pay premiums for coverage, eligibility to participate ... Continue Reading »
