Category Archives: Insurance and Risk Management

Three tips for senior managers seeking to avoid reputational damage

man in a suit leaning over a railing

A theme to which I often return is the extent to which there is scope for divergence of interest between individuals and their employers, especially in the context of regulatory investigations. For more, see my blog, Supreme Court victory for … Continue reading →

Learning about natural hazards: A recap of Willis Research Network’s spring seminar series

streets flooded around a building

This past spring, Willis Research Network (WRN) hosted a series of morning seminars that featured a number of research projects and partners. Topics ranged from severe convective storms to corporate risk profiling, and included findings from some of the WRN’s … Continue reading →

Don’t let your actuaries sit on the bench on IFRS17

Accountant adding figures on a calculator

IFRS17 may be an accounting standard, but getting ready for it requires serious actuarial input. The January 1, 2021 live date for the new international insurance accounting standard, IFRS17, is somewhat deceptive. The reality is that, due to the need … Continue reading →

Insights from the Willis Re Flood Club: the weaknesses and strengths of flood modelling

cars in flooded parking lot

When industry experts gathered to consider the state of flood modelling, they discovered a disconnect between theory and reality that can leave insurers under some expensive water. So what’s next for modelling approaches? Insurers are worried about their flood exposure. … Continue reading →

8 reasons why energy companies should have an Enterprise Risk Management framework

Worker in a yellow vest walking between solar panels lined in a field

Establishing a resilient Enterprise Risk Management (ERM) framework can be a challenging process that requires a clear action plan with specific improvement points and defined timelines. And it’s for those reasons, along with lack of resources and determination that some … Continue reading →

There are four million U.K. companies, but how many buy D&O insurance?

Red phone booth on London street with Big Ben and other buildings in the background

At the end of March 2018, the number of companies on the total register of U.K. companies surpassed four million for the first time ever, reaching 4,033,355. Although the number on the effective register (i.e. companies not in dissolution or … Continue reading →

Reimagining the role of insurance underwriters

young woman in a blazer and skirt looking at her phone

Far from usurping the role of underwriters in insurance, digital innovation, automation and artificial intelligence (AI) could help free them up to focus on activities that can generate additional revenue and profits. Digital transformation continues to drive profound change within … Continue reading →

5 questions hospital board members should ask about enterprise risk management

Female doctor sitting with a man in a suit holding a laptop and a man in a suit and tie

Risk management in health care can vary greatly across different organizations. Yet the focus on managing risk should be an integral part of all boards of directors’ ongoing discussions. So what should the directors and their senior executives be thinking … Continue reading →

5 professional liability pitfalls every contractor should look out for when taking on a Design and Build project

Framework of house under construction

Design and Build (D&B) contracting blurs the long-standing, traditional lines between designers and builders. With the continuing integration of these services comes increased professional liability (PL) risks for the design-builder — that’s not only responsible for the construction, but also … Continue reading →

Energy Market Review 2018: Energy insurers remain caught between a rock and a hard place

Electrical worker among power lines

As we explain in our latest Energy Market Review, 2017 was an interesting year for both the energy and (re)insurance industries, with the good news of the oil price recovery and increased activity in the upstream sector energy industry being … Continue reading →