Weekly News Roundup – 23rd June

Swiss Re’s latest report highlights that the global protection gap ‘reached a new high of USD 1.8 trillion’ last year. It also reveals that 60% of insurable crop production around the world is not protected against natural disasters and accidents despite rising concerns about food availability following the outbreak of war in Ukraine. On the subject of Ukraine, Aon and Lloyd’s are working with one of the largest insurers operating in the country to increase capacity for manufacturing and construction activities.

Restoring resilience: the need to reload shock-absorbing capacity (Source: Swiss Re)
A new report from Swiss Re highlights the growing global protection gaps particularly in natural catastrophes, crop, mortality and health insurance.

Aon and Lloyd’s announce new insurance collaboration with VIG to support Ukraine’s reconstruction (Source: Lloyd’s)
Lloyd’s and Aon have committed to support international and domestic companies operating in Ukraine with supplementary foreign (re)insurance capacity.

When good M&A deals go bad, it’s complicated (Source: Insurance Edge)
JP Morgan is set to claim on their insurance over their failed $175m acquisition of Frank. Liberty GTS comments on ‘what this means for all parties’.

Airmic 2023: The future of risk management revealed (Source: StrategicRISK)
At this week’s conference, the release of Airmic’s ‘Future of the Profession 2023’ report showed that embracing ESG, implementing AI and understanding emerging risk are high on the agenda for risk professionals.

Managing risk in insurance supply chain (Source: Security Scorecard)
Data from SecurityScorecard, an information security company, has shown that over a quarter of the top 50 UK insurers would ‘struggle to get cyber insurance themselves’ due to poor cyber ratings.

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