When the European Union’s General Data Protection Regulation (GDPR) took effect in May 2018, it signaled the start of more aggressive privacy oversight and enforcement in an era of rapidly advancing technology. The diversity and scope of enforcement actions, and the intersection of data privacy regulation with technology, are likely to pose increasing challenges for regulators a ... Continue Reading »
Regulation
U.S. Terrorism Risk Backstop Up for Renewal in 2020
The federal backstop created by the Terrorism Risk Insurance Act (TRIA) and reauthorized as TRIPRA - along with similar public-private mechanisms that exist in other countries - remains crucial to the continued stability and health of the property terrorism insurance market. As TRIPRA's expiration on December 31, 2020 approaches, Marsh & McLennan Companies colleagues ... Continue Reading »
Advancing Cyber Risk Management – From Security to Resilience
In an increasingly digital economy, cyber threats and vulnerabilities evolve fast. But despite growing anxieties around cyber, traditional security strategies and investments continue to lag. For organizations focused on balancing their growth plans and cyber security priorities both challenges and opportunities remain. The new report from Marsh & McLennan Insights, ... Continue Reading »
One-Year Anniversary of the GDPR: A Look Back and Ahead
When the European Union's General Data Protection Regulation (GDPR) took effect in May 2018, it signaled the start of more aggressive privacy oversight and enforcement in an era of rapidly advancing technology. The diversity and scope of enforcement actions, and the intersection of data privacy regulation with technology, are likely to pose increasing challenges for regulators ... Continue Reading »
Avoiding the cliff edge of no-deal Brexit; MMC Young Professionals’ Global Forum 2019
The United Kingdom's Prudential Regulatory Authority (PRA) has "done as much as it can do to de-risk a no-deal [Brexit] cliff edge," according to Mr. Sam Woods, deputy governor for prudential regulation and chief executive officer of the PRA, Bank of England. ... Continue Reading »
Evolving Regulatory Pressures Signal Potential Turning Point in Cyber Risk Management Strategies
Siobhan O'Brien, Head of the Cyber Center of Excellence for International and Global Specialties Contact Cyber risk presents an exciting opportunity for re/insurers, but as one of the most dynamic perils in the industry, regulators are formalizing capital requirements and quantitative and qualitative measurements of risk appetite. In the United Kingdom, the Prudential ... Continue Reading »
Evolving Regulatory Pressures Signal Potential Turning Point in Cyber Risk Management Strategies
Siobhan O'Brien, Head of the Cyber Center of Excellence for International and Global Specialties Contact Cyber risk presents an exciting opportunity for re/insurers, but as one of the most dynamic perils in the industry, regulators are formalizing capital requirements and quantitative and qualitative measurements of risk appetite. In the United Kingdom, the Prudential ... Continue Reading »
Amid Regulatory Scrutiny Financial Institutions Must Monitor Third-Party Cyber Risk
Cybersecurity ranks among the top concerns for banks, insurers, and other financial institutions, which can represent prime targets for cyber-attackers and be vulnerable to potential disruptions because of their often-complex technology systems and the valuable financial assets and rich customer data they can hold. ... Continue Reading »
GC Videocast – 2019 Cyber Landscape: New Regulations, Risks and Management Expectations
Cyber Practices experts at Guy Carpenter’s affiliate, Marsh, held a video webcast to look at how changing cyber risk exposures, regulations and best practices will change the cyber risk management landscape in 2019. ... Continue Reading »
Accounting Changes Impacting the Reinsurance Landscape – GC@BB Commentary
Frank Achtert, Head of Capital Optimization, EMEA; Tom Hettinger, Strategic Advisory Leader, U.S./Canada; David Lightfoot, Head of Global Strategic Advisory – Asia Pacific and Latin America Contact With IFRS 17, reinsurance for managing capital KPIs needs to be different in type/scale Users of internal capital models must ensure flexibility of underlying simulation p ... Continue Reading »
