In this video, Josh Darr, Head of North America Peril Advisory, Guy Carpenter, and Jessica Turner, Managing Director, Catastrophe Advisory, Guy Carpenter, highlight how the tangible economic cost of action related to climate change may be high, but the cost of inaction is ultimately higher. They also discuss the scientific advances being made for climate change risk ... Continue Reading »
risk management
The Five Pillars of People Risk
New research shows the greatest likelihood and impact of 25 workforce-related threats facing employers worldwide according to risk managers and human resource (HR) professionals. By hearing first hand from 744 risk and 637 HR professionals across the globe, Marsh learned which people risks will have the most severe impacts, and the barriers preventing firms from mitigating ... Continue Reading »
AI Could Be As Harmful As It Is Helpful — Depending on How You Use It
Artificial intelligence (AI) has embedded itself into the business landscape. No longer the purview of Big Tech companies alone, firms across various industries are actively integrating AI into their processes, acquiring tech startups and scouting opportunities to deploy the technology in the near future. COVID-19 has only accelerated this trend as businesses have had to ... Continue Reading »
Better Pathways Are Available To Manage Risks and Enhance Resilience
Despite some remarkable examples of determination, cooperation and innovation, most countries have struggled with aspects of crisis management during the global pandemic. While it is early to draw definitive lessons, the 2021 edition of the Global Risks Report, published by the World Economic Forum in partnership with Marsh & McLennan, reflects on global preparedness by ... 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 »
Global Risks Report 2021: Reflections on COVID-19 – Risk Financing
The (re)insurance industry, policyholders and governments throughout the world must come together on an approach that offers relief to those who need it now and develop a plan to implement mitigation strategies and a response mechanism for future pandemic events. ... Continue Reading »
GC Capital Ideas Top Climate Change Insights of 2020
Here we highlight the top stories of 2020 that GC Capital Ideas has presented on managing risks associated with climate change. ... 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 ... Continue Reading »
Why We Need Community-Based Catastrophe Insurance
The impacts of COVID-19 on individuals, communities and insurers are continuing to unfold and no doubt present uncertainty. However, the current disruption also serves to highlight the importance of lessening reliance on federal financial relief and, instead, creating financial resilience at the community level. ... Continue Reading »
Wildfire – Understanding and Modeling the Risk: Part II
A pattern has emerged related to the joint concept of greater precipitation in winter months coupled with greater evaporation in summer months, both driven by a warming climate. A wet winter allows grasses to grow, which dry out during excessively hot summers, and become receptive fuel for fire, especially during offshore wind events like the Santa Ana Winds. The 2017 and 2018 ... Continue Reading »
