Contracting firms are facing rising premium and worsening terms & conditions at renewal of their professional indemnity (PI) insurance policies. As a result, contractors are increasingly left with reduced protection when compared to prior years.
Despite the enormous success in developing vaccines against Covid-19, the life science/medical sector continues to face a challenging market for insurance protection.
Some art pieces are seasoned travellers, but the challenges of securing the safety of a Caravaggio or a Raphael painting during transportation and exhibition are massive: Loan agreements, insurance, packing, shipping, handling, installation – all these tasks are complex, expensive and delicate.
An increase in frequency and severity of weather events has triggered a heightened awareness and information demand to better understand climate related risks, particularly for assets with a long lifespan like real estate. More refined modelling techniques are helping investors to better assess the risk exposure of properties.
In the 2019/2020 period, days lost to illness have increased substantially in the transportation & storage sector, according to the UK’s Health and Safety Executive’s (HSE’s) 2020 annual statistics.
Companies have a vested interest in protecting employees’ mental health and ignoring it can have moral, legal, reputational and economic consequences.
Welcome to our first edition of the Lockton Companies LLP Insurance Market Update.
The Covid-19 pandemic has forced employers to take quick decisions, many of which may have affected their staff. Lockton was keen to find out more about the consequences of such measures on companies’ employees worldwide.
The recent grounding of one of the world’s largest vessels in the Suez Canal has had a devastating impact on maritime trade and supply chains and highlighted the risks involved in the operations of ultra-large vessels.