Flood was a common factor among the major global loss events of 2021, and a peril risk managers and the industry should pay close attention to going forward, according to the latest sigma report from the Swiss Re Institute.
Overall, natural and man-made disasters in 2021 resulted in global economic losses of USD $280 billion, the sixth highest on sigma records. Insurance covered USD $119 billion, the fourth highest on record.
IIS Executive Insights Regulation Expert: William Marcoux, WCM Advisory LLC
A long-standing debate within the insurance regulatory world has been to what extent should regulators be responsible for market development, meaning closing protection gaps and increasing insurance penetrations rates. In light of evolving markets, insurers withdrawing from some coverages and persistent (and in some cases growing) protection gaps, this is receiving new attention— and it should!
In this Society of Actuaries report, Milliman consultants study the effects of hurricanes on human health, beyond the direct consequences of the storms themselves.
As the world starts to reopen and we grapple with other, immediate global concerns, the virus's fate has only one outcome: it will become endemic in our society. Each major variant so far has been more transmissible than its predecessors and brings different symptoms and differing resistances and susceptibilities to vaccines or treatments. Resurgent waves of breakthrough infections, driven most recently by the Omicron variant, in vaccinated populations with waning immunity, remain an ongoing risk to economic recovery and healthcare.
This e-book highlights ways in which the insurance industry can build a digital business continuity plan in the face of unpredictable events.
Committing to a better future: How Principal is taking action, making progress, and driving outcomes for a more diverse, inclusive, and sustainable world.
IIS Executive Insights Innovation Expert: Chunka Mui, Futurist and Innovation Advisor
See how life insurers can take a concrete approach to climate risk management through these case studies.
Having overstrained workers raises insurance risks, from workplace injuries to professional and product liabilities, and more.
Oliver Wyman’s latest in the Reset4Value series helps leaders power their business for sustainable growth. Here, we share how leaders can leverage their firm’s culture strengths, enhance the capabilities that matter most, and unlock scarce investment dollars to fund them appropriately.
