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Rising prices for fossil fuels are inflating the value of assets handled by companies involved in the production and transportation of crude oil, oil derivatives and gas. If not addressed in insurance policies this may leave some players in the energy sector underinsured as asset values exceed insurance limits.
The UK is requiring full ingredient and allergen labelling on all food made on premises and pre-packed for direct sale from October 2021, increasing the risk of product recalls for the food and drink industry.
During the pandemic, the majority of companies have refrained from cutting back their employee benefits plans and focused instead on adding new products to the offering to address the situation. These additions are likely to stay as employers now deem them as part of their value proposition.
Countries putting in place ambitious greenhouse gas emissions reduction targets are increasingly finding that hydrogen will play a major part in their plans. While over 30 countries have already produced hydrogen roadmaps in the world, Chile is among those best positioned to produce this energy sustainably at large scale. However, as with all large and innovative projects, potential risks need to be closely monitored and addressed, not least to get the necessary support from insurers.