Inflation
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As construction costs continue to rise, as many as 75% of properties may be underinsured, said Lori Flemming, managing director of fixed asset advisory services for Kroll. -
Jonathan Monks, Sompo International’s EVP and Head of Business Development for North American Insurance, said factors including inflation are driving rate across the market. He spoke with Insider Engage at RIMS 2022 in San Francisco.
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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.
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Inflation risk is potentially quickening the Fed's rate hiking schedule becoming a key driver of downside economic risk, said Jake Meyer, senior economist with Swiss Re Institute.
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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.
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Inflation, climate change, cyber risks and geopolitical instability are creating an uncertain environment for insurers, said Mike Mitchell, head of Property & Specialty Underwriting, Reinsurance, Swiss Re. Please click below to view the full video.
