Recently, Lloyd’s of London published a report in collaboration with KPMG, titled ‘Protecting intangible assets: Preparing for a new reality,’ in which they urge businesses to pay attention to the new risk landscape that has evolved under COVID-19, and to factor intangible assets into their risk models.
New survey results released by Information Services Group (ISG) revealed that most insurers in Europe expect demand for digital products and services to increase significantly in response to the COVID-19 pandemic.
With corporate bonds constituting a majority of the insurance industry's assets, the balance sheets of insurers are now at risk due to recent coronavirus-induced macroeconomic uncertainty. This finding was revealed in a new AM Best special report titled 'Corporate bond holdings pose risk to insurers' balance sheets'.
According to Goldman Sachs Asset Management (GSAM), global insurers are looking to increase investments in commercial warehouses over office space.
The insurance industry is poised to overcome the COVID-19-induced global recession, according to a report by Swiss Re Institute.
With remote working becoming the norm for many employees due to COVID-19, there has been considerable demand for a change to working practices that could shift the focus of the employee benefits market.
Emerging markets will invest $2.2tn in infrastructure annually over the next 20 years, equal to 3.9% of GDP, according to estimates in the latest sigma report released by Swiss Re Institute.
As the reinsurance sector continues to take a hit from the COVID-19 crisis and other factors, S&P Global’s latest report has revised its sector outlook from stable to negative.
The president of the European Central Bank (ECB), Christine Lagarde, warned earlier this year that a coordinated cyberattack on a major financial institution could cause a “liquidity crisis”. With that in mind, it’s no surprise that financial institutions have been the earliest and most willing adopters of cyber insurance.
General insurers need to reinvent their products in order to increase the sector's economic relevance amid a new risk landscape. For instance, while fire traditionally has been the biggest risk to property, the COVID-19 pandemic has shown that non-physical risks present an immediate threat to properties as well.