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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 »

Wildfire Risk and Underwriting Strategy

In 2018, California suffered its most costly and deadly fire season to date. The year’s costliest insured loss event was California’s Camp Fire at USD 12 billion — also the most destructive fire in the state’s history. Additionally in 2018, over 100 people perished in wildfires in Greece; British Columbia, Canada, suffered its worst wildfire season in history; in Australia, bush ... Continue Reading »

Review of Silent Cyber Coverage on GC Capital Ideas

Here we present the recent stories that GC Capital Ideas has presented on silent cyber, also known as unintended or non-affirmative coverage, the unknown or unquantified exposures stemming from cyber perils that may be triggered within traditional property and liability insurance policies. ... Continue Reading »

CAT-i Report: Australia Bushfires – January 8, 2020

Bushfire activity in the last few months has rendered significant impacts to portions of Australia, and especially so in recent weeks with severe impacts reported in New South Wales. The bushfire activity has caused devastating impacts to human life, property, infrastructure, and wildlife. Extreme fire weather conditions across the country together with record heat and drought ... Continue Reading »

CAT-i Report: M6.4 Earthquake Offshore Southwest Puerto Rico

Southern Puerto Rico was affected by a Mw 6.4 earthquake early on January 7, 2020, after experiencing a Mw5.8 earthquake the day before. Since late December, the region had been shaken by more than 200 M4+ earthquakes. The North American and Caribbean tectonic plates converge along the southwest and west of Puerto Rico, and this was the source of the recent stronger shaking ... Continue Reading »

January 1, 2020 Reinsurance Renewals Reflect Asymmetrical Market

Reinsurance renewals at January 1, 2020, were shaped by deteriorating loss experience, a lack of new capital inflows and increasingly challenged environments in the primary insurance and retrocession markets, according to Guy Carpenter. In its initial view of the January 2020 renewal, Guy Carpenter said that while reinsurance supply was largely sufficient to meet increasing ... Continue Reading »

Guy Carpenter Announces Appointment of Benelux CEO

Guy Carpenter announced today the appointment of Patrick Schepens as CEO of the Benelux region, effective April 2020. Mr. Schepens will be responsible for all of Guy Carpenter’s activities in the Benelux region and will be based in Brussels. In addition, he will become part of the company’s European Management team. Mr. Schepens will report to Massimo Reina, CEO of Con ... Continue Reading »