Risk Management
Insurers are financially steady but shaky at articulating risks
Analysis of Solvency II reporting of 100 of the largest non-life UK and Ireland insurers showed the financial strength of the market remains strong but providers need to up their game on articulating operational risks.
View from the top: CFC’s Newman on why scaremongering won’t shift cyber policies
Graeme Newman, CEO of CFC, argues cyber insurers should play to its strengths rather than peddle sensational statistics.
Podcast: Should insurers fear or embrace AI?
We will never have an insurance company run by artificial intelligence “without a human in the loop”, according to Bijal Patel, co-founder and chief technology officer at Aurora.
Vote for winners of the European Insurance Technology Awards
The shortlist has been decided and now Insurance Post readers can vote to decide the winners of the European Insurance Technology Awards 2023.
Why event cancellation insurance remains relevant
Leigh Ann Rossi, chief operating officer within the sports and entertainment group at NFP, and Marc Blumencranz, managing director of sports and entertainment, explain how climate change, power outages, civil unrest, national mourning and health has kept…
Lloyd’s captive pipeline ‘strong’ as government explores separate regulatory regime
Lloyd’s has signalled that the launch of the market’s first captive syndicates in decades could be close at hand.
Weightmans launches cyber consultancy CyXcel
Law firm Weightmans has launched cyber consultancy CyXcel, which it hopes will become a one-stop shop for businesses of all sizes in a siloed market.
AmTrust International’s Challis on supporting mothers working in insurance
Helen Challis, group head of human resources at AmTrust International, shares the wrench of returning to work after maternity leave and what she is doing to help to make the sector more inclusive.
How AI can mitigate increasing cost of extreme weather
Izik Lavy, CEO and co-founder of GeoX, discusses how insurers are using AI and aerial imagery to battle the extreme weather ushered in by the climate crisis.
A fire-free summer does not call for complacency
Paul Redington, regional major loss manager of Zurich, explains why insurers and the government should work together to create a risk map of areas vulnerable to wildfires.
Protestors urge insurers and reinsurers to block insurance for Republic of Congo oil extraction
Companies which are granted exploration and exploitation rights in the Democratic Republic of Congo oil auction could find they are without financial protection.
How insurers are tentatively embracing AI
Analysis: Frances Stebbing explores how insurers are using generative AI, while recognising the risks and preparing for the incoming regulation for this type of technology.
Addressing the biodiversity crisis in underwriting
Cody Dong, senior associate, and Arne Philipp Klug, vice president of MSCI Research, explain how insurers can take steps to reduce the risk of losses from deforestation, land-use change, overfishing, pollution and the introduction of invasive species.
Hurricane victims’ claims to be sped up with 360-degree imagery
McKenzie Intelligence Services has piloted CAT360 to boost insurers’ responses to US hurricane losses and speed up claims by providing ground-level imagery.
Why insurers need to up the ante on climate change
Caroline Elliott-Grey, product manager for UK and Ireland for LexisNexis Risk Solutions, says insurance providers should face up to the winds of climate change and use predictive modelling to mitigate risks.
Ecclesiastical sees surge in financial lines claims from charities
Ecclesiastical has received hundreds of financial lines claims from charities post pandemic with the provider predicting these organisations are seen as “easy targets”.
What the Net-Zero Insurance Alliance’s demise means for the industry
Edmund Tirbutt examines what the future holds for the Net-Zero Insurance Alliance (NZIA), a UN-convened body set up two years ago for insurers wanting to cut their carbon footprint and reduce climate change risk.
Trade Voice: Airmic on managing the climate risks of tomorrow
Julia Graham, Airmic CEO, argues the events of last month demonstrate the important of tackling climate risks in both the near and far term.
Diary of an Insurer: RSA’s Kate Coutts
Kate Coutts, head of risk policy, strategy and change at RSA, simplifies systems, keeps fit and finds her risk skills come in handy at a school governors meeting.
Aviva and Flood Re call for planning rules to be overhauled
Aviva and Flood Re have called on Rachel Maclean MP, minister for housing and planning, to ensure planning rules are updated to align with the UK’s legally binding Net Zero targets.
Half of boardrooms do not have expertise to tackle climate risks
A survey by Willis Towers Watson and the Nasdaq Center for Board Excellence has revealed that almost half of respondents reported their boards lacked expertise to respond to climate risk.
View from the Top: Aviva’s Adam Winslow on insurers’ critical role supporting Net Zero transition
Adam Winslow, CEO of UK & Ireland general insurance at Aviva, says out of sight downsides mustn’t be put out of mind as insurers support Net Zero transition.
Q&A: John Milliken, Defaqto
John Milliken, chief executive of Defaqto, explains how insurers are using the agency’s product database to ensure their products are Consumer Duty compliant and reveals plans for new ratings.
Wildlife populations plummet 70% as IFOA publishes biodiversity policy
The Institute and Faculty of Actuaries has published its Biodiversity and Nature-Related Risks policy as biodiversity loss becomes a top global concern.