Trade credit insurers will need access to better-quality risk data if they are to weather the future onslaught of claims once government support is lifted

Despite the depth of the crisis, the insurance market is not expecting governments to fail, but multiple claims in multiple countries through defaults on individual contracts are expected

Covid-19 has created a number of complex challenges for the P&I sector, but it is the size and frequency of major casualties that continue to test resilience of the market

The pandemic forced the Tokyo Olympics to be postponed a year, but a disproportionate focus on Covid-19 could render the event more vulnerable to other, equally significant threats

For carriers to increase prices and restrict cover as the frequency and severity of cyber attacks increase would be a short-term and unsustainable solution

The global evolution of data protection regulation offers cyber insurers both a challenge and a unique set of circumstances to grow their business

Many specialist pollution policies are silent as to whether pollution caused by a cyber event is covered

As deep fake technologies become ever more sophisticated, careful analysis of cyber resilience and maturity could prove to be the difference between success and failure for insurers 

The pandemic has shown local insurers that the role of insurtechs is not to take away business but to help them stay close to clients by facilitating access to new distribution channels

Incumbents are under pressure to grow their partnerships with insurtechs to scale at an acceptable loss ratio in order to recover their investment in a shorter timeframe than previously envisaged

The adoption of insurtech solutions in Hong Kong and Singapore is not without its challenges, but these are being addressed through proof of concept initiatives sanctioned by the regulator

Platforms hosting several insurtechs are helping to ease the pressures on the sector post-Covid – but ongoing investment is critical

With the P&I renewal season over, clubs faced some tough pricing decisions amid pressure to take into account both present and future challenges facing the market

The longevity of the P&I club business model is based on sustainability, but sustainability also has an economic dimension in the form of realistic risk pricing

With underwriting losses likely to be only partially offset by modest investment earnings, clubs are expected to see an overall decrease in free reserves for the last fiscal year

Covid-19 has created a number of complex challenges for the P&I sector, but it is the size and frequency of major casualties that continue to test resilience of the market