The opioid crisis in the US is showing that drug producers and manufacturers have purchased inappropriate cover as legal costs plough through policy limits and many insurers are set to contest claims in court.
A recent ransomware attack paralysed global currency exchange company Travelex, forcing the firm operating in over 70 countries to revert back to utilising pen and paper.
There are increasing signs that the coronavirus Covid-19 outbreak will significantly impact international trade and the shipping industry.
Despite significant corporate exposure, the purchasing of environmental risk insurance has been slow in Brazil in recent years. There are some reasons for this scenario but also opportunities to develop this type of cover further, making it more attractive for both insurers and insurance buyers.
Risk segregation is a core principle of insurance underwriting and the application of artificial intelligence (AI) tools can help define potential risks more accurately. However, users’ claims that AI tools are biased in their decisions are becoming louder and the regulator is listening closely.