We will reflect on the events of the last two years and how they have impacted losses, along with what insurers will need to be mindful of in terms of pricing in 2022.
The Institute and Faculty of Actuaries Working Party are developing a framework to help you better assess your cyber exposure from both cyber and non-cyber policies.
In the case of rare but severe events, historical loss information is often unreliable in assessing future loss potential – that's where catastrophe modeling comes in.
While the world faces logistical challenges from COVID-19, insurance claims will continue, and weather-related catastrophes will not abate due to the spread of COVID-19.
The 2018 Civil Liability Act is expected to take effect in April this year and is set to transform the handling of low-value personal injury claims in England and Wales. The Act seeks to control the growth of motor insurance premiums for “ordinary” motorists by reducing the cost of whiplash injury claims.
While the exclusion of pre-existing medical conditions in travel insurance policies has been standard practice in Europe, there is regulatory pressure to reform.
Not understanding the quality of a risk can lead to poor attritional loss ratios, which is why it's paramount that Lloyd’s underwriters not lose out to poor-quality data.