Discussions about systemic risk have moved beyond climate change to include pandemics, ransomware, and more. The “unprecedented” events of the past year may have combined to set a new precedent.
In this month’s Insurance News Analysis, my colleague Abbey Compton and I discuss the myriad of new risks insurers and their customers now face. The sophisticated ransomware attack on CNA shows that despite insuring against these cyber threats, insurers are not immune to them. We also discuss how insurers can respond to the massive claims expected from the closure of the Suez Canal.
While small businesses have taken a big hit during the pandemic, Chubb clearly recognized the future value in the small commercial market. Their unsolicited offer to buy The Hartford was declined, but it signals that small businesses are worthy of big plays.
We also discuss the future of remote work and how to simplify underwriting through direct access to electronic health records.
New risks also mean new revenue opportunities for insurers. In our latest report, Insurance Revenue Landscape 2025: Innovate for Resilience, Ravi Malhotra and I share how insurers can re-invent their offerings and adjust their strategies.
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