|
Catastrophic danger
Insurers in the US began the year bracing for billions of dollars of losses from the damage done by the Los Angeles wildfires, while their UK counterparts were struck by an eightfold increase in claims notifications within an hour of Storm Éowyn hitting Northern Ireland. Both the wildfire and storms hitting these shores provided a timely reminder of the need for a concerted and co-ordinated effort by the government, re/insurers and the wider business community to build more resilience into our infrastructure and help mitigate the growing danger of natural catastrophes on our lives. Anger at activists
How environmental and political protestors are changing their approach to tackling insurers was laid bare by several stories in January. Shut The System boasted they had cut the communication cables of “hundreds” of major insurers in the City – a claim reported as fact by several publications. Unlike our rivals, Post picked up the phone to speak to City of London Police, Lloyd’s of London, AIG, Axa and Chubb and discovered while a 29-year-old had been arrested for cutting cables, most major names remained in touch with the wider world. January also saw protest group Palestine Action smash windows and throw red paint at Allianz offices over the insurer’s links to weapons manufacturer Elbit Systems. Rather than encouraging insurers to reassess their underwriting policies and investment strategies, this approach is simply resulting in the police being called. Allianz’s comment, following the Palestine Action protest, sums up the feelings of many: “We respect everyone’s right to have and express their opinion. However, we have zero tolerance for any criminal behaviour that threatens the safety or security of our people, property, and business.” Quite. Sexual harassment
Which news story have I been asked about most this month? Who is the Lloyd’s broker CEO accused of sexual harassment. Post news editor Scott McGee’s exclusive report prompted plenty of discussions about accountability, workplace culture and governance within the insurance industry. The question I wish I was asked more? What steps should the industry take to address the Financial Conduct Authority’s shocking findings about the scale of sexual harassment in insurance today? The answers to that question can be found in our senior reporter Damisola Sulaiman’s analysis of the actions insurers and brokers are currently taking to prevent abusive incidents. Essential reading. What to watch
If 2025 started with you having to deal with the same old rubbish at your current employer, I recommend you watch Post’s Top Tips video on ways to climb the insurance career ladder. Famous faces including iCan’s Ajay Mistry, Hiscox’s Gareth Hemming, Sedgwick’s Peter Farrelly, Allianz’s David Carey, Chubb’s Vicki D’Silva, CFC’s Dan Trueman, Ageas’ Adam Clarke, RSA’s Sarah Mantle-Gray, the British Insurance Brokers’ Association’s Graeme Trudgill, plus QBE’s Chris Long, explain how to turn your dreams of rising to the top of the insurance industry swiftly into reality in 2025. Emma Ann Hughes Editor of Insurance Post Newsletters recommended for you
Keep up to date with the latest rules and red tape issued by the Financial Conduct Authority and Prudential Regulation Authority by signing up to our Regulation Newsletter. The newsletter will be sent to your email inbox every Tuesday. Sign up here. If you would like to contribute your views, data and insight to Insurance Post features, interviews and podcasts, make sure you sign up to receive our Insurance Post Forward Features email. Just click here and tick the box to receive ‘Insurance Post Features updates’.
|
