"The limited coverage is characterised by low coverage limits, long waiting periods, narrow coverage triggers, significant deductibles and long claims processes

There is a misconception that the scope of cyber errors and omissions (E&O) insurance covers all cloud downtime losses, according to the results of the latest survey from Parametrix, published last week (8 September 2022)."

(Insurance Times - September 2022)

"We’re living through a difficult period in our country’s economic history. The cost-of-living crisis comes at a time when we’re still dealing with the lasting effects of Covid-19, Brexit and the ongoing war in Ukraine.

At the same time, we’re seeing inflation rising, increasing fuel and energy prices, and this is having a significant impact across everything including building materials and supply chain issues. All of this is impacting the prices we pay and how long it takes for goods and materials to get to where they’re needed. So, what does this all mean for insurance?"

(Insurance Age - September 2022)

The Association of British Insurers estimates a total of £473m and 169,500 claims in property damages have resulted from UK storms Dudley, Eunice and Franklin in February 2022. This Insurance Age article shows the importance of and how insurance brokers can help during natural emergencies and disasters.

(Insurance Age - April 2022)

"As president of the Chartered Insurance Institute (CII) and group CEO of Aston Lark, Peter Blanc (pictured) has something of a bird’s-eye-view of the UK insurance market – a view that lends itself well to forecasting what the future has to hold for insurance professionals.

“It has been an interesting few years because, as we’ve moved more and more online with so many activities, I’m a bit worried that insurance hasn’t quite found its proper niche yet,” he said. “There’s lots of insurance being sold online where it’s questionable whether the quality of the product is quite as it should be. Of course, one of the big problems with insurance is that you never quite know how good the product is until the point of claim. And the point of claim is far too late to be finding out you bought something that wasn’t quite right.”

(Insurance Business UK - February 2022)

"Ever since it first emerged as the new kid on the insurance block a few decades ago, cyber insurance has displayed many of the characteristics of a rolling stone – steadily picking up speed and energy and never staying still long enough to gather any real predictability. The trends and shifts sweeping the space are innumerate, but as highlighted by Lindsey Nelson (pictured), cyber development leader at CFC, among these are some key developments."

(Insurance Business UK - February 2022)

"A quarter of UK properties are at risk of flood, according to a new flood model released by JBA Risk Management. The model also estimated that floods could cost UK residential properties £527 million, and that figure could rise to £1.9 billion without flood defences."

(Insurance Business UK - February 2022)

"Drones, medical malpractice and cyber are the top technology-related risks for this year, according to international law firm DAC Beachcroft.

Its latest global insurance industry predictions lists technology as one of six key themes for 2022. Other important categories for this year are class action lawsuits, climate change, global risks, regulation and modernising the workplace."

(Insurance Times - January 2022)