The overall hard market has exacerbated the cyber insurance market, said Mario Vitale, CEO of Resilience Cyber Insurance Solutions. He spoke with Insider Engage at RIMS 2022 in San Francisco.

The cyber market remains turbulent due to increased claims, said Bob Parisi, head of cyber solutions North America, Munich Re. He spoke with Insider Engage at the RIMS 2022 conference in San Francisco.

It may be impossible to stop cyber attacks altogether, but companies can take steps to become cyber resilient, said David Shluger, vice president, Cyber Risk Engineering, Zurich North America. Shluger spoke with Insider Engage at RIMS 2022 in San Francisco.

Insurers now know what the 'minimum' requirements are to make companies safer from cyber attacks, but still face systemic risks, said Dan Trueman, global head of cyber, AXIS Insurance. Trueman spoke with Insider Engage at the RIMS 2022 conference in San Francisco.

Mergers & acquisitions reached record levels in 2021, which could result in higher claims for reps & warranties insurers, said Toria Lessman, senior vice president and head of transactional liability for QBE North America. She spoke with Insider Engage at RIMS 2022 in San Francisco.

From climate change to geopolitical risks to cyber attacks, insurers are trying to navigate unsure ground. Here are the highlights of exclusive Insider Engage interviews with key executives at RIMS 2022 in San Francisco.

The environmental insurance market continues to evolve and grow, said John O'Brien, head of environmental for Ascot Group. He spoke with Insider Engage at the RIMS 2022, conference in San Francisco.

It may be impossible to stop cyber attacks altogether, but companies can take steps to become cyber resilient, said David Shluger, vice president, Cyber Risk Engineering, Zurich North America. Shluger spoke with Insider Engage at RIMS 2022 in San Francisco.

While the COVID-19 pandemic shut down offices and in-person meetings, Aon used the time to revamp its claims review process.

Property damage, forced abandonment, currency and convertibility are among the political risk coverages potentially exposed, said Laura Burns, SVP, US Political Risks, America, WTW said during an interview with Insider Engage at RIMS in San Francisco.

With all asset classes producing negative returns, insurance asset managers are searching for creative ways to manage their investments, said Rip Reeves, chief investment officer and treasurer for AEGIS Insurance Services.

The biggest challenge facing insurers today is the need for the industry to come together to collaborate and find solutions for emerging risks, said Chris Sparro, CEO North America, Sompo International Commercial P&C Insurance.

Geopolitical tensions have put pressures on cyber criminals, who may look to move to other countries where it's easier to operate, John Bennett, managing director, Kroll's Cyber Risk Practice said in an interview with Insider Engage at the recent RIMS conference in San Francisco.

In other industries outside of insurance, competitions have been a mainstay for creating a environment where companies can gain notoriety, venture investors can discover companies and companies can compete to win. But in the insurance industry, it's only recently that competitions have become a way to highlight startups, said David Gritz co-founder of InsurTech NY.

If PFAS, or “forever chemicals,” are the major risk that's currently in litigation, then ubiquitous microplastics are the major risk that's waiting in the wings, said Bob Reville, Co-Founder, President and Chief Executive Officer of Praedicat.

Insurers must always lift their eyes towards the horizon and scan it carefully for emerging risks. The events of the last two years have reminded every insurer of the need to pay careful attention to the future -- pandemics, the impact of climate change, automation, technology and artificial intelligence, and now war in Europe -- all hold potentially devastating implications for insurers.

Insurance can play an important role in people's wellbeing, said Jane Wang, the founder and CEO of Optimity, a wellness and "mission driven" InsureTech.

Insurers can play a leading role in closing the protection gap by helping people plan to reduce the risk of disasters before they strike, and by providing financial help after, said Denis Duverne, chairman, Insurance Development Forum, and chairman of AXA, in an exclusive interview with Insider Engage.

As the costs of legal liability in the US soar, there are increasing concerns of the impact third-party litigation finance (TPLF) might have on insurers and consumers and this had led to action being taken towards mitigating the effects of social inflation.

Cyber risks are potentially outpacing natural catastrophes and business interruption as insured risks.

"We've never seen the potential for a cyber disaster like today," said William Altman, principal cybersecurity consultant at CyberCube.

The life market is being re-energized by new entrants and fresh capital, according to speakers at a recent Insider Engage webinar.

There has been a great deal of debate about what it will take for individual companies to reduce their carbon dioxide (CO2) emissions. Many argue that either a carbon tax or cap-and-trade program is the most viable option. Some even maintain that such policies should include all greenhouse gases (GHG), including methane and nitrous oxide.

Nick Line, Markel International’s chief underwriting officer, explains Markel’s smart approach to systemic risk, and the business’ focus on growing in the right places, with access to a diverse talent pool.

Over the past two years US insurance companies' interest in integrating economic, social and governance (ESG) factors into their investment strategies has grown significantly.

Before insurers can choose to retain, reduce or transfer cyber risk on their balance sheet, they need to understand the complexity and interconnectivity of the cyber risk, said Lori Bailey, chief insurance officer, Corvus.

Tim McCosh, Co-Founder and CEO of Yokahu, looks ahead to what promises to be a busy next year as parametric products step in to bridge the trust gap in insurance

A recent webinar presented in partnership with Eigen Technologies looked at some of the issues insurers face when presented with large amounts of data, as well as how to overcome the problem of value leakage to make the most of the resources available.

As the pandemic continues to hamper shipping and disrupt labor, demand-driven inflation is likely to continue, said Michel Leonard, vice president, senior economist and data scientist, Insurance Information Institute.

As claims grow more complex and the competition for talent heats up AXIS Insurance has deployed new strategies to bridge the talent gap and to retain experienced claims professionals, said Mike Baumel, Chief Claims Officer.

Insurance supervisors want wider transparency and disclosure on climate risk and not just greenwash.

Lockdown disrupted the world of work forever. In the first of two articles, HR experts discuss the big challenges that insurers and brokers face as they strive to attract and retain the best talent.