Looking back now, I view my first years’ worth of development in different “phases” of learning. Within this piece I’ll look to explain these phases, in hopes of conjuring memories for my more experienced colleagues and providing reassurance to my fellow new hires.
As the impact of rising inflation becomes more apparent, those of us working in the surety market are closely monitoring the effect of inflation on costs, labour, capacity, supply chains and ultimately, potential losses. As we did during the pandemic, all stakeholders should consider how best to support their clients and help them to navigate successfully through this uncertain period.
Natural catastrophes occur with greater frequency and severity, Miguel assesses the implications for (re)insurance carriers and the impact on clients.
December 2021 was one of the toughest property renewal seasons for all territories for a number of years. Commentators from journalists to brokers alike noted how both prices and terms and conditions moved in favour of reinsurers. Most of the brokers’ reports post-renewal comment on how reinsurers took a more risk averse view of catastrophe business and particularly attrition.
Expectations of insurers are changing. Businesses and consumers are becoming less tolerant of gaps in cover. In an increasingly digital world, they expect fast payouts, irrespective of whether complex loss adjustment is required. Jean-Christophe Garaix, explains why insurance innovation is needed and how Liberty Mutual Re is leading the charge.