BI non-physical losses: the UK solution

With the Royal Assent being given to the Counter-Terrorism and Border Security Bill 2018 - allowing Pool Re to cover non-physical losses incurred following a terrorist attack -, the British market has set a precedent at global level, by finding solving a challenging issue born by the changed character of the terrorist attacks of the recent years.

WEF's global Top 5 most concerning trends 2019: changing climate, cyber dependency and increasing social disparities and national sentiment

Rising geopolitical and geo-economic tensions are the most urgent risk in 2019, while environmental degradation is the long-term risk that defines our age, with four of the top five most impactful global risks in 2019 related to climate. Rapidly evolving cyber and technological threats are the most significant potential blind spots; we still do not fully appreciate the vulnerability of networked societies. These are some of the main conclusions of the World Economic Forum's Global Risks Report 2019.

Global economic growth is solid but slowing, and emerging Asia will continue to power the insurance market, sigma says

Global premiums are forecast to grow by around 3% annually in 2019 and 2020, mostly driven by the high growth rates in emerging Asia which may be as by three times more than the global average. The economic power shift from west to east will drive insurance sector development to 2020 and beyond. Expanding the boundaries of insurability for corporate intangible assets will be another main growth area for insurers

Insurance, a key player in building resilience

"The frequency of natural disasters is increasing, and the damage they cause will be greater as the world population becomes more urban and concentrated in areas prone to catastrophe," one of the latest analysis published by Aon under the Global Insurance Market Opportunities titles sates.

The Insurance Business in Transition to the Cyber-Physical Market

What we generically call "Cyber risk" is, in fact, a family of risks and it is worth observing if there is a commonality in the perception - thus management - of the risk in the academic, risk management, insurance and policymaking communities. The present study found that cyber breach is perceived as "critical" due in part to its own nature and, importantly, in part to the weak understanding of its impact and our preparedness.