Continuing the trend of the past few years, ESG remains a strategic and compliance focus for insurers. An ever-evolving web of regulation coupled with a sharp rise in anti-ESG sentiment in certain parts of the U.S. is placing pressure on insurers. Meanwhile, the wildfires in Canada and the Mediterranean this summer are reminders that extreme weather conditions are fast becoming the norm, which is of course changing the face of the insurance market as we know it.
Security is also a significant concern for insurers. Ensuring that systems are sufficiently robust to limit the impacts of cyberattacks continues to be a focus. Additionally, increasing geopolitical tensions and the increased frequency of state-endorsed malware attacks have left some insurers reluctant to underwrite war-related risks, and differing approaches will likely have a significant impact on the future shape of the cyber insurance market.
Insurers are also taking advantage of developments in technology to achieve their goals, particularly in relation to the use of AI and blockchain. While these technologies clearly come with risks, it is likely that those insurers that can embed these tools into their businesses effectively will benefit from a significant competitive advantage.
We have kept this brochure as concise as possible by limiting it to high-level summaries for each topic. If you are interested in learning more about a particular topic, you can follow links to the full articles. Throughout the brochure, you can find key contacts for each of the topics covered, and we encourage you to get in touch to discuss them further.
