GILC Risk Radar 2022: Global mega-trends dominate horizon for insurers

Date: Monday, May 9th, 2022 by Michaela Hickson.

Global Insurance Law Connect’s 2022 Radar Report gives updates on political, regulatory and legal changes that will impact insurers in 23 countries.

Global Insurance Law Connect (GILC) has launched the fourth edition of its annual ‘Risk Radar Report’, a collection of insights from law firms in 23 different countries. Each firm provides details on the key changes to the insurance market in their region and provides an outlook for the coming year in that country. The report provides a valuable insight into the varying – and sometimes similar – concerns of those who work in the insurance industry around the world.

Gillian Davidson, Board Member of Global Insurance Law Connect, commented:

“What is striking is that in the last few years, and during the Covid pandemic especially, we have seen the concurrent rise of a group of mega-trends, which impact almost every market, and provide a global challenge to us all. This report shows a global focus on the rise of digitalisation and cyber risk, increased climate risk, and regulatory change as themes that insurers the world over are having to adapt to. Coming out of the pandemic, many are also concerned about the implications for the D&O market as management decisions are put under the spotlight.”

“In this environment, it is all the more important that we do all we can to share expertise, best practice and innovations with each other. We believe that combining a detailed, granular knowledge of domestic markets with a broader, global perspective is the best way to do this. Our Radar Report reflects the great insurance expertise that GILC’s member firms provide to our clients.”

To download the report click here.

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