Here’s an interesting piece I stumbled upon this morning while searching for some pandemic-related material out in cyberspace. Caitlin Bronson reported on the website of Insurance Business (America) this morning:
A global pandemic, a widespread natural disaster and a food/water/energy crisis are the top three extreme risks threatening the insurance industry in the near future, a Towers Watson survey of global insurance industry executives reveals.
The survey—part of Towers Watson’s biennial analysis Extreme Risks—asked more than 30,000 top executives to rate very rare events that would have a large impact on global economic growth and the insurance sector.
In addition to health, weather and technological risks, the insurance executives also saw financial disasters as having a large role to play in the future of the insurance industry. An economic depression, a banking crisis and a default by a major sovereign borrower were all listed in the executives’ top 10 concerns…
It’s a short, insightful read (I wonder if the insurance industry is any good at forecasting major crises/disasters?), and the article can be viewed in its entirety on the Insurance Business (America) website here.
By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)
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