It is a government’s responsibility to prepare for risks that may threaten national security and social stability, and as government entities take steps to understand and manage those risks, they are turning to the reinsurance market to find ways to improve their financial resilience. The risk landscape for public sector entities is changing faster than ever before, with e ... Continue Reading »
Reins Markets
How Ransomware Threats and Regulatory Pressures are Driving Cyber (Re)insurance Sales
What is motivating cyber (re)insurance sales? Guy Carpenter's Cyber Year in Brief and 2020 Outlook explores how the threat of ransomware and associated high costs of regulatory actions have driven clients to purchase cyber insurance cover for the first time, or to reassess the adequacy of currently purchased limits. ... Continue Reading »
June 1, 2020 Reinsurance Renewal: Hurricane Season Projections
While June 1 renewals were challenging, capacity ultimately came together to meet cedents’ needs and the market continued to function well. Similar outcomes are expected at July 1, and looking further ahead to January 1, 2021. The reinsurance sector has shown itself to be well versed at navigating market-changing events, and the overriding message following June 1 renewals is t ... Continue Reading »
June 1, 2020 Reinsurance Renewal: COVID-19 Looks Set to Rank Among the Sector’s Most Expensive Events
Although considerable uncertainty remains over its ultimate cost, COVID-19 looks set to rank among the sector’s most expensive events. The pandemic has the potential to bring unknown loss impacts. It is also likely to be one of the slowest developing catastrophes that carriers have ever encountered, likely creating a prolonged period of uncertainty. ... Continue Reading »
June 1, 2020 Reinsurance Renewal: The Market Reevaluates Exposures as Conditions Tighten
Even before the COVID-19 crisis, the reinsurance market was facing an increasingly challenged operating environment. Shifting views of risk, a lack of new capital inflows, higher loss cost trends and deteriorating loss experience led to tightening market conditions at January 1, 2020 renewals. ... Continue Reading »
June 1, 2020 Reinsurance Renewal: The Impact of COVID-19 on Florida Property Catastrophe Pricing
The June 1, 2020 renewal is the first genuine test of the reinsurance market since the COVID-19 outbreak prompted government-mandated lockdowns across the globe. The pandemic has compounded an already firming reinsurance environment, resulting in challenged placements and pronounced property catastrophe pricing increases, particularly in Florida. ... Continue Reading »
COVID-19: Current and Future Impacts on Medical Insurance
As we learn more about the COVID-19 virus, societal responses and vaccine development, our collective knowledge continues to develop. Throughout this time, Guy Carpenter is continually connecting with our clients and business associates to gather the key questions health insurers are asking along with the range of potential outcomes. ... Continue Reading »
Reinsurance Resilience and Value: Protecting our Planet and the Public Purse
The global reinsurance market has been fundamental to the management and mitigation of risk for over 150 years. Guy Carpenter's Protecting our Planet and the Public Purse report examines how the reinsurance market's innate ability and desire to innovate and evolve through different market cycles and periods of change has helped to strengthen the market’s resolve and resilience t ... Continue Reading »
California Wildfire Fund: Protecting our Planet and the Public Purse
Following the devastating wildfires that raged across California in 2017 and 2018, the state’s legislature and governor took steps to fund mitigation efforts and provide post-disaster relief to affected homeowners. Guy Carpenter's Protecting our Planet and the Public Purse report takes a look at how public-private partnerships such as the California Wildfire Fund can aid these e ... Continue Reading »
Baden-Baden Reinsurance Symposium Examines (Re)insurance Market Opportunities Generated by Industry 4.0
Guy Carpenter hosted the Reinsurance Symposium in Baden-Baden on October 20, 2019. The eleventh year that Guy Carpenter has hosted the event, the Symposium posed the question: “Is the (re)insurance sector ready for Industry 4.0?” ... Continue Reading »
