JLT Re has published the latest edition of its magazine Risk Perspective. The current edition contains regional updates, news and four topical articles.
It also contains JLT experts' perspective on catastrophe losses, InsurTech for the auto market and medical professional liability (MPL) insurance (and reinsurance) market.
In This Edition
Securing sustainable growth: Cyber risks are rapidly evolving and are no longer seen as a purely IT problem. Technological developments (such as blockchain, the Internet of Things (IoT), cloud computing, smart grids, biometrics, autonomous cars and intelligent machines) have the potential to escalate cyber risks and bring new, unquantified and largely unknown consequences. Moreover, the demand for cyber insurance is increasing due to enhanced risk awareness and new regulations on data breach reporting requirements. This article talks about the challenges that insurers and reinsurers currently face in their endeavour to fulfil clients’ demand for comprehensive cyber cover without undermining their own carefully crafted business models.
The future of flood insurance in the balance: The US has a large flood insurance gap and according to estimates, less than one fifth of those most affected by 2017’s Hurricane Harvey had flood cover. This article talks about the reason for the low penetration of private insurers in the US flood insurance market and how private insurers could help to close the protection gap.
Wildfires come to the fore: This year, the US State of California has had the most destructive fire season on record. According to the data retrieved on 22 August from the National Geographic Area Coordination Center, a total of 5,581 fires had burned an area of more than a million acres until then. In this article, JLT Re's specialists talk about the reasons for the increase in wildfires in the US and how the insurance industry could tackle wildfire risk until it is appropriately modelled.
Is commercial auto a market bellwether?: According to the Council of Insurance Agents & Brokers, commercial auto rates increased 8.2 percent in the second quarter of 2018 – the 28th consecutive quarter of increased rates. This article explores whether the increase in commercial auto rates is indicative of how the rest of the casualty market will change or a special case due to particular circumstances.
To read the full magazine, please visit the JLT Re website