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Insurers, their regulators and ratings agencies are increasingly aware of the potential for a catastrophic cyber loss. The aggregation of cyber risk assumed under policies providing affirmative or ...
The early identification of claims likely to pierce reinsurance retention levels has long been a challenge for primary insurers and reinsurers. The good news is that over the past decade or so, the ...
Willis Re's proprietary PRISM-Re cyber modeling tool considers catastrophic as well as attritional losses to portfolios of risk. It employs a two-part framework for analysis of cyber threats. The ...
Several recent reserve cover deals—including the single-largest reinsurance transaction on record—demonstrate a growing interest on the part of insurers to shed their long-tail liabilities. A ...
The insurance industry is experiencing a convergence with technology that is transforming the way it develops products, underwrites, prices and sells policies, and services its customers. This change ...
When you meet someone new or chat with an old acquaintance, do you share stories about exciting innovations in the insurance industry? Do you tell people about how the industry helps people after ...
Everybody has career-changing events and life-changing events—and sometimes, as with the case of Britt Newhouse, events from those two worlds collide. Newhouse, the former chairman of reinsurance ...
A reader of this publication, the president of an insurance agency, recently wrote to say he kept hearing about catastrophe bonds but had little knowledge of what they were. He was curious if these ...
Reinsurance companies increasingly are funding InsurTech startups in order to structure more innovative products and improve their business efficiencies, but how much impact on the industry will ...
Britt Newhouse, former chairman of Guy Carpenter, discussed some lessons in leadership from his career and his parents. He often recalls things his mother and father told him—truisms for both life ...
I started working in the London reinsurance market in 1978. Forty years' later, after a journey through various roles to running my own business today, I've seen many insurers and reinsurers come and ...
Following Hurricane Katrina in 2005, former U.S. Vice President Al Gore described it as "the first taste of a bitter cup that will be proffered to us over and over again." That devastating event ...
With competitive reinsurance rates and abundant capacity, many insurers are choosing to expand their strategic reinsurance purchases to mitigate earnings volatility and better manage their capital. ...
Long gone are the days when employees printed their resumes and cover letters on fancy paper, worried about choosing the proper font, and put both documents in the mail. The idea of employers ...
Xceedance decided to jump on the blockchain bandwagon late last year—but rather than building its own platform, it invested in ChainThat, a specialist provider of blockchain solutions for the ...
There has never been a better time for the insurance profession to begin deepening the conversation around diversity and inclusion (D&I). In fact, there has never been a better time to capitalize ...
Imagine there's a way for institutional investors to trade insurance risks much like they trade stocks. Well, imagine no more. A new and unique reinsurer, Extraordinary Re, has hit upon the novel ...
The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to ...
What do millennials want? This question is critical for the specialty insurance and reinsurance industry. We face a looming talent shortage. Retirement will soon skim off the cream of our industry's ...
One of Extraordinary Re's many innovations is a patented technology process that transforms each reinsurance contract assumed on its trading platform into what are called "liquid insurance ...
Blockchain technology is moving out of the lab and into the insurance business. It's moving past the hype phase and is edging closer to providing real-life efficiency improvements for the industry. ...
For the last several years, participants in the insurance-linked securities (ILS) market have frequently discussed the question of market expansion. In a market with consistently declining property ...
The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the ...
Every emerging technology has its naysayers, who can be very accomplished in their field and still end up being wrong. For example, columnist and economist Paul Krugman once opined on the Internet's ...
