Weekly News Roundup – 13th October

A catastrophic cyber event is predicted in the foreseeable future but what can the insurance industry do to prepare? New research from Gallagher Re says technologies like self-healing systems and outside-in scans to “assess policyholders’ vulnerabilities” can improve the risk. A report focussing on diversity in the insurance ecosystem reveals that that over a third of participants have seen/heard discriminatory language and behaviour in the workplace and 78% of women reported a gender pay gap at their organisation.

Diversity Special Report: A focus on gender (Source: ESG Insurer)
In partnership with Browne Jacobson LLP, the University of Nottingham has carried out a study exploring EDI practices in the UK insurance industry and it hopes the results will “incentivise firms’ efforts on EDI”.

The role of insurance in building resilience against food and water shock (Source: Lloyd’s)
This new report from the Lloyd’s Futureset examines how to address the “significant climate risk protection gap”, looking at where technologies, partnerships and government action can make an impact now and in decades to come.

Risk Briefing: Insurance industry unprepared for large scale systemic cyber attacks (Source: Strategic Risk Europe)
Research from Gallagher Re says that a lack of “a universally accepted definition” of a cyber catastrophe and no “industry consensus on modelling the risks” is serious cause for concern.

No insurance, no sustainable future (Source: Oxbow Partners)
As the world makes the transition to net zero, insurance has a crucial role to play during the implementation of green projects.

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