Panama Papers leak could expose insurers to wider claims

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Panama Papers leak could expose insurers

Insurers could be hit hard as a result of the fallout from the Panama Papers data leak, according to lawyers.

The leaks could result in regulatory or civil action, triggering long running court cases that would have a wider impact on many firms, including insurers.

"The implications for connected industries

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Insurers face margin crush unless premiums are hiked

Data analysis: A sustainable margin recovery looks increasingly challenging for insurers with premiums needing to increase in real terms to prevent any erosion after a tripling of costs to 10.9% of premiums last year from 3.5% in 2022.

Stephen Wallace, McLarens

Steven Wallace is managing director of EMEA for global claims services provider McLarens and is the current president of the Chartered Institute of Loss Adjusters.