Guy Carpenter to focus on catastrophe risk for governments
Wednesday, 04 22 2015, Category: Insurance and Reinsurance, Country: World
A new practice team at reinsurance broker Guy Carpenter will focus exclusively on the catastrophe risk transfer needs of government agencies and entities. The Public Sector Specialty Practice will provide solutions aiming to relieve the cost of catastrophes for these entities.
The new global practice brings together a variety of teams at the reinsurance broker, seeking to provide the best catastrophe risk management and transfer solutions to government entities and public sector agencies. Often these entities are under-insured and can end up paying for catastrophe costs out-of-pocket.
Around 73%, or $2.7 trillion, of global natural catastrophe losses between 1970 and 2014 were
uninsured, according to Guy Carpenter.