The “top risk and mega trends 2020” report has been produced in collaboration with AIG, Control Risk, KPMG, OBE and Willis Tower Watson. It identifies the biggest risk facing UK organisations and exposes how businesses and risk professionals have responded to the global pandemic.
Based on an in-depth survey of Airmic members and qualitative research, the report also offers guidance on how to navigate five risk mega trends areas in the context of the global pandemic.
Cyber and technology; climate and environment; trust and reputation; geopolitics and populism; and governance, laws and regulation.
The report also highlights the impact of the pandemic on insurance buying trends. Even before the pandemic, the hardening market meant that a lack of adequate insurance cover at an affordable premium was emerging as a risk in itself
Airmic warns that “ill-judged response to the pandemic could trigger a flight to alternative transfer options including captives and its urges insurers, brokers and insurance buyers to work together openly and constructively – particularly during the ongoing pandemic.