Of Special Interest


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7th November 2021

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week was dominated by statements at the first week of COP26, and a flurry of third quarter and nine months financials. At COP26, the emphasis was on the vital part that insurance has to play in the mitigation and analysis of growing climate risks and a quantum shift in investment direction-Assistant UN Secretary-General for Climate Change, Selwin Hart, spoke at the Insurance Development Forum(IDF) event, and The Global Federation of Insurance Associations(GFIA) made a statement. A new paper from the University of Cambridge Institute for Sustainability Leadership(CISL) launched at COP26 urged policymakers, financial regulators and industry to expand risk sharing systems at scale to tackle the Climate Emergency-it builds on the extensive work and insights of the insurance leaders group ClimateWise and highlights five key areas of action for policymakers, private and public financial authorities and the insurance sector. Start Network, a coalition of over 50 humanitarian charities, and the Insurance Development Forum(IDF) announced a new partnership to support the development of a new global financial service for the humanitarian sector, which will help communities to get ahead of escalating climate risks. Pool Re SOLUTIONS, IFTRIP and START are to partner on a global strategic initiative to focus on the impact of climate change on terrorism.
Forrester revealed its 2022 predictions for the insurance industry. Guidewire Live was unveiled for analytics-driven insurance to deliver insights, and FRISS secured Guidewire investment. Rainbow International aims to enhance customer experience with new restoration workflow underpinned by Verisk’s claims-handling solutions.
Marsh McLennan launched "Partnering with Purpose", a new report for the National Preparedness Commission, which examines the opportunities for stronger interactions between the public and private sectors to strengthen the UK’s ability to anticipate and respond to strategic risks and crises. A significant disconnect between risk and insurance cover was highlighted by Willis Towers Watson’s latest luxury brand survey. This week's Newslink coverage the latest financial reports from AIG, Hastings Insurance Group; Argo, Beazley, Enstar, Greenlight Capital Re, Hannover Re, Hiscox, Lancashire, Liberty Mutual, Markel, and SiriusPoimt; and Aon. There was a senior appointment at the Lloyd's Market Association(LMA).

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