Mutual Insurers Wrestle With Onslaught of Emerging Risks

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Insurers and reinsurers said a range of new and expanding risks, including cyber liability, drones, autonomous vehicles and even new farm risks is challenging the underwriting ability of the mutual insurance sector.

 

American Agricultural's Graham: Farm Sector a Hotbed of Emerging Risks

Lorie Graham, senior manager, American Agricultural Insurance Company, said farmers are rapidly adopting drones, sensor based equipment, 3D printing and new business models, creating new types of exposure to which agricultural insurers must respond.
 

ICMIF's Tarbuck: Insurers Must Rise to the Bigger Risks Ahead

Shaun Tarbuck, CEO, International Cooperative and Mutual Insurance Federation, said insurers are poised to help lead initiatives aimed at reducing global risk but must have the confidence and courage to step forward.

 

Flood Re Sees Its Coverage Rising

Aidan Kerr, operations director, Flood Re, said the reinsurer is aiming to cover 200,000 U.K. households for flood risk in the shorter term and eventually reach up to half a million by operating in the background of the homeowners' insurance market.
 

Lloyd's Beale: Time for Insurers to Step Up the Research, Development

Inga Beale, CEO, Lloyd's, said the insurance industry invests less in researching risks and developing new products than industries such as manufacturing.

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