The first step in the iterative five-part process that can guide communities as they consider implementation of a community-based catastrophe insurance (CBCI) program, is “Defining the Need or Problem” that the community is trying to solve. ... Continue Reading »
United States
Reinsurance Resilience: Private Market Capital
While concerns regarding the selective appetite of private markets for backing catastrophic risk have unfolded in areas with large losses in recent years, the reinsurance market has become well-versed at overcoming major losses and has navigated a number of capital challenges following major disasters, such as the September 11 attacks, Hurricane Katrina, and the succession of ... Continue Reading »
CAT-i Bulletin: February 2021 U.S. Arctic Air Outbreak
An intrusion of Arctic air into the central and eastern United States has brought periods of record-setting cold to areas as far south as the Southern Plains. Along the boundary between cold and warm air, several impactful winter storms have crossed from the Southern Plains into the Mid-Atlantic over the recent two weeks. One of these storms, unofficially named “Uri” by the ... Continue Reading »
Community-Based Catastrophe Insurance: Disaster Aid Financing or CBCI?
A community-based catastrophe insurance (CBCI) program clearly defines before a disaster what type of support will be given to individuals. This facilitates better individual risk management and planning than reliance on uncertain aid. Also, the inclusion of a risk signal in a CBCI program — for example, via a risk reduction surcharge — requires and supports raised awareness of ... Continue Reading »
Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap
A new report from Guy Carpenter, Marsh & McLennan Advantage, and the Wharton Risk Management and Decision Processes Center, Community-Based Catastrophe Insurance: A Model for Closing the Disaster Protection Gap, sets out an innovative model to deliver insurance and help communities close the disaster protection gap. ... Continue Reading »
Chart: U.S. Property Catastrophe Rate-On-Line (ROL) Index – 1990 to 2020
The following chart shows the Guy Carpenter U.S. Property Catastrophe Rate-on-Line (ROL) Index for the period 1990 to 2020. ... Continue Reading »
U.S. Property & Casualty Rating Upgrades Outpace Downgrades During the First Half of 2020
Given the confluence of COVID-19, ongoing fire and wind catastrophe events and A.M. Best’s evolving criteria it is increasingly important to stay on top of A.M. Best’s views, particularly on topical issues. ... 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 »
Cost Sharing and Telehealth
In the beginning of March 2020, insurers across the country immediately began requesting that barriers to providing care be removed during the pandemic to help them more efficiently test and treat COVID-19 patients. However, on March 18, 2020, Congress passed the Families First Coronavirus Response Act, which required health insurance companies that offer individual and group ... Continue Reading »
