Liability insurers’ exposure to litigation losses will widen, according to webinar panel.

Insider Engage and FTI Consulting brought together industry experts in a recent webinar to examine the record-breaking year in insurance M&A volumes in Europe and the UK during 2021, and the motivations behind the rush to consolidate.

Mergers and Acquisitions (M&A) in the insurance industry reached new heights in 2021, with fevered deal-making spurred-on by economic stimulus and a strong lending environment. Expectations are that activity will continue at similar levels into 2022 and will continue to have a profound impact on the European and London insurance markets.

For a long time diverse-owned companies have faced a number of challenges when it comes to accessing capital, however business diversity programs are making this a thing of the past, enabling diverse-owned companies to expand their network and unlock potential business opportunities.

Andy Hottinger discusses the potential impact of COVID-19 and climate change on lines like casualty, motor, health, and professional liability.

Insurers can play a role in mitigating cyber risk, but may need to partner with law enforcement and governments, said Sean Kevelighan, chief executive officer, the Insurance Information Institute.

About 50% of the US mortgage insurance industry is backed by Bermuda-based companies, said John Huff, CEO of the Association of Bermuda Insurers and Reinsurers.

The management liability market has been in flux in recent years, facing pressures including increased claims, social inflation and hardening rates, said Mark Paccione, Head of Commercial Management Solutions for AXIS Insurance.

The rise of ransomware attacks has lead some underwriters to raise rates and pull back on capacity, said Catherine Mulligan, head of cyber for Aon Reinsurance Solutions, at the Joint Industry Forum in New York.

How can re/insurers manage growing catastrophe risks if lessons from the past no longer apply?

Real events are necessary to test, and continually update, the accuracy of catastrophe models, said Karen Clark, founder and CEO of Karen Clark and Co.

A public/private partnership similar to crop insurance or TRIPRA is needed to manage pandemic risk, said Paul Horgan, head of U.S. National Accounts, Zurich North America.

Accident & Health insurance, which has focused on professional athletes in the past, is expanding to e-sports and space travel, said Guy Bonwick, Head of International A&H for AXIS Insurance.

What is the difference in perception and resilience amongst business leaders to environmental risks, and are businesses fully prepared for the associated risks – such as pandemic, climate change, environmental damage, food security and energy transition?

In a changing market, start-ups and “reloaders” can thrive with a clear purpose, the right talent and better tech and data capabilities.

Studies of the Lloyd’s market typically seek out the view of underwriters and brokers, the engine room of the industry, but what about the chief financial officers? Aon and the Lloyd’s Market Association teamed up to find out more about how CFOs see the market and the vital questions of capital management.

Property is dominating discussions among insurers and reinsurers, even spilling into casualty talks, said Paul McKeon, President of Regional Business Units for TransRe. He recently spoke with Insider Engage Managing Editor Meg Green about challenges in the marketplace. To view the video interview, click below, or read on to see an edited transcript of the conversation.

As the economy continues to rebound after the pandemic, insurers expect to see growth in construction and hospitality business in 2022, said Rebecca Gitig, head of US primary liability for Aspen Insurance.

When looking to employ risk engineering expertise to help them strengthen property protection and other risk mitigation strategies for equipment, fleets and more, business have a considered two options: to bundle or unbundle. But according to AXA XL Risk Consulting’s Jonathan Salter, there’s a third option.

As the world’s eyes turn to Glasgow where COP26 is upon us, insurers are evermore expected to lead on climate and sustainability.

Insurers may be in line to receive a balance sheet boost if they back out from covering the oil and gas sector.

Foresight, a leading workers' compensation insurtech, puts the spotlight on why Hispanic workers are more likely to be injured on the job, and how insurers can respond.

As the number of climate change-fueled disasters increases, insurers can help by educating policyholders, lawmakers and the global society about how to manage the growing risk.

The sudden shift to mass remote working was brought about by the pandemic, but now companies are making more deliberate choices for long-term flexible working.

With the right data and processes could peer reviews help transform MGAs’ underwriting performance?

Noticeable changes in global adverse weather have brought climate change to the fore in (re)insurers’ analysis to risk, says Aon’s Steve Bowen.

Offering consistent support to clients during economic downturns is most important, said Tobias Povel, chief underwriting officer, Credit & Surety, SCOR P&C. Please click on the link below to view the video.

Concert halls, theaters and stadiums sat vacant during the pandemic. Insurers can help get the ravaged events industry back on its feet.

Jérôme Haegeli, Swiss Re’s Group chief economist, explains why the outlook is good for P&C insurance and how climate change is a huge opportunity for the industry.

Memo to P&C insurers: If you think the pandemic has been painful, just wait until you see the impact of climate change outlined in a UN report that's been characterized as "code red for humanity.”

Eric Sugier, Liberty Mutual Re’s Head of Property, describes how the growing risk of flood is changing reinsurers’ approach to property, and how the industry already has the tools to help manage the threat of more frequent extreme weather events.

Every claim can build long-term relationships, said Tim Deardon, senior vice president, group head of claims, IGI.

Why cybersecurity has become a bigger issue for (re)insurers and how they can address it.

Volatility may push carriers to divest reinsurance units, but can pure-play reinsurers survive in a world of climate change and high return hurdles?

Henri Labat, senior executive officer, IGI Dubai, and Youssef Alaoui, chief executive officer, IGI Casablanca, said that despite challenges, there are plenty of insurance opportunities in the two regions.

As the market improves, casualty reinsurers are striving to improve and optimize margins. Is it simply a matter of going through the motions, or, as Thomas Greene, head of Casualty – Reinsurance, Liberty Mutual Re, USA suggests, do reinsurers need to find a better way forward?

The level of property/casualty insurance penetration in emerging markets is low, which gives insurers amble opportunity for growth, said Eric Jenck, regional chief underwriting officer, Fast Growth Markets, SCOR P&C. Please click on the link below to view the video interview.

Hurricane Ida has stirred up the ongoing challenge of catastrophe pricing.

Keith Mallia-Milanes, chief executive officer, International General Insurance Company (Europe) SE – IGI Europe, outlined IGI’s ambitious plans to expand in Europe from its new Maltese base.

The industry must move together on climate change and achieving net zero emissions, said Michel Blanc, SCOR’s CEO of Reinsurance.

Jill Bryant, EVP, Digital Small Commercial for Axis Insurance, discusses the growing trend of home-based business and how insurers are responding.

How Markel has found effective supply chain management can reduce overall claims costs.

There's no shortage of opportunity in Asia/Pacific but barriers to success include language, culture and regulation, said Nick Garrity, chief executive officer, IGI Labuan. Click on the link below to view the video interview.

The psychological effects of the pandemic and quarantine are profound: social isolation, a tsunami of grief as people cope with losses, financial chaos, unemployment, uncertainty and business closures. Is this fueling a rise in diseases of despair? And what are the considerations for the insurance market on possible impacts on claims?

Insurers are eyeing new and established SMEs as a route to growth and stability in uncertain times

Risk carriers must be resolute in their commitment to helping clients proactively manage their less predictable and harder-to-quantify risks

The time for action on Europe’s green economy is now – and the insurance industry has a key role in the transition to a lower carbon future

A global pandemic and record-breaking nat cat losses are driving a dynamic insurance market in the US, creating opportunities to demonstrate the benefits of strong risk management partnerships

The ability to embrace the wider data universe will define underwriting success, say Kirsten Mitchell-Wallace of Lloyd’s and Willis Towers Watson’s Richard Clarkson

A dramatic increase in ransomware attacks is compounding rising claims for cyber insurers, but hard market rates are also encouraging new capital into the market

Following the publication of Aon’s 2021 Cyber Security Risk Report, Adam Peckman explains the importance of a circular approach to cyber resiliency

CoreLogic’s Saumi Shokraee details how climate change is affecting hurricane risk and the impact on housing

With commitments to clean energy growing in many countries, insurers are likely to face an increasing exposure to potential construction and weather losses from on- and offshore renewable projects, against the backdrop of an evolving and challenging risk profile

The experts at PERse were building their knowledge base long before renewable energy projects were booming. Today, this managing general underwriter continues to deliver solutions and go to bat for its ecologically minded clients around the world.

Robert Gordon, APCIA's senior vice president of policy, research and international, on why hardships created by events like COVID-19 must be addressed through government intervention.

With around £15.9bn/$22bn thought to be up for grabs annually by 2025, how can UK carriers innovate for resilience in the new insurance revenue landscape?