Insurance News: Risk and resilience in violent times
Insurance is a means of achieving resilience and stability for individuals, families, and businesses. Insurers take that responsibility seriously—especially in times of war when people’s lives and communities face risks they may be unable to mitigate.
As the crisis in Ukraine unfolds, the world is witnessing the pain of a country under invasion and the uncertainty that comes with not knowing when or how it will end. It’s heartbreaking to see in the news and a nightmare for those closest to it. What is heartening is seeing the global response to condemn violence and help people and communities in need.
The invasion of Ukraine is unfortunately not our only international crisis. The war in Yemen has raged for seven years and is now the worst humanitarian crisis in the world. We must all consider how to help those caught in the crossfire—both literal and figurative—as cross-regional geopolitical risk grows.
While these news items overshadow most others, there are threats to safety and well-being everywhere. In our monthly Insurance News Analysis discussion, Abbey Compton and I talk about a few of those:
The settlement of the Sandy Hook lawsuit led to $73 million in claims. The case was based on how the gun manufacturer marketed its product, but it raises questions beyond marketing for insurers whose commercial lines customers manufacture potentially hazardous products.
We are hearing more about the inevitable expansion of the metaverse. We are also hearing more about claims resulting from metaverse activity.
Finally, we talk about how regulators are getting involved in the pricing of property insurance.
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