Lloyd’s proposes “open source” frameworks for future pandemic coverage
July 6, 2020 by David GambrillLloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers…
How Lloyd’s is handling claims differently with COVID-19
June 3, 2020 by Greg MeckbachIn response to the ongoing pandemic, the Lloyd’s market is changing the way claims are handled when multiple syndicates write one risk. “One challenge with COVID-19 is the subscription nature of the market, whereby it is often several syndicates writing…
Opinion: COVID is nasty and impactful, but it’s not a Black Swan
May 19, 2020 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss ReductionSince the “black swan” metaphor was coined in the 2007 book of the same name, it has become fashionable to label virtually all low probability/high impact events black swans. But the danger of making an occurrence like the COVID-19 outbreak…
Wimbledon cancellation could ‘change the entire way of looking at insurance’: Broker
April 30, 2020 by Greg MeckbachThe cancellation of the Wimbledon tennis tournament, and the associated nine-figure insurance payout, is going to change the way the industry offers pandemic coverage, a Canadian commercial broker suggests. A report by Britain-based GlobalData says the Wimbledon organizer paid for…
The “dark side” of working from home: How to avoid an isolated workforce
April 21, 2020 by David GambrillBefore COVID-19, there was a lively debate within the Canadian P&C industry about the virtues and pitfalls of working from home, featuring the industry’s skeptics (a.k.a. the “Boomers”) and proponents (the “Millennials”). Well, guess what? The pandemic has made us…
Predicting possible outcomes to coronavirus and other pandemics with models and simulations
April 20, 2020 Gabriel Wainer, Professor, Systems and Computer Engineering, Carleton University - THE CANADIAN PRESSThis article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site Lately, our daily lives include reading complex news items with analysis…
One business interruption risk from COVID-19 that your clients may overlook
March 11, 2020 by Greg MeckbachWill your business get interrupted because people working from home due to COVID-19 cannot log into their computer systems? “If you are asking staff to work from home, make sure that the technology systems to enable them to do that can…