Week’s Top Stories: September 4-10, 2021 – GC Capital Ideas

Video: The State of Wildfire Resilience: In this video, Sydney Hedberg, Associate Director, Marsh McLennan Advantage; Andy Read, Vice President, Public Sector Practice, Guy Carpenter; and Sydney Chamberlin, Climate Policy Associate, The Nature Conservancy, join Thomas Carver, Executive Editor of BRINK News, for a discussion on how society can respond to the growing environmental threat posed by wildfires.

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M7.0 Acapulco, Mexico Earthquake Rattles Guerrero State to Mexico City: A significant earthquake occurred on September 7, 2021, with the epicenter approximately 21 kilometers (13 miles) from Acapulco. Varying levels of shaking were reported from Acapulco to Mexico City, but damage seemed to be limited, according to Mexican government leaders.

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Flood Risk Index Provides Global Overview: The Marsh McLennan Flood Risk Index provides key information on the likelihood, vulnerability and severity of flood exposure for countries throughout the world. It is accessible through a highly intuitive navigator that visualizes the results on an interactive world map.

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Infrastructure: Heightened Cyber Threats Pose Risks for Owners, Operators: Technological innovation has provided a huge boon in operating efficiency and cost savings in the development and employment of assets. However, this comes at a price as increasingly sophisticated hackers can disrupt business and misuse customer information. Identifying new opportunities for collaboration and reimagining partnerships with stakeholders provide keys to mitigate this risk. Marsh McLennan Advantage’s recent report, Built to Last: Infrastructure and Trust in a Changing World, explores this issue, as well as many others connected with infrastructure risk.

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Chart: Surety Results Remain Relatively Stable Over Time: Surety industry underwriting results have remained relatively stable since 2005. Loss activity spiked in the early 2000s, leading to combined ratios ranging between 124 percent in 2001 and 117 percent in 2004 (see chart). Factors contributing to the high combined ratios in the early 2000s included sharply increased competition in the surety sector in the late 1990s, higher loss frequency among large accounts and a lack of sophisticated underwriting tools.

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And, you may have missed….

Post Event Report: Hurricane Ida Gulf Coast Landfall: Sustained winds of 150 mph, with higher gusts, caused significant damage at and near the landfall point in Port Fourchan, LA. Storm surge in excess of seven feet was observed, while power outages affected 80% of the state of Louisiana.

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