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Emerging Risks: A Changing Claims Landscape

Emerging Risks: A Changing Claims Landscape. Paul Handy Director, Global Technical Services. What? Why? Who? and How?. WHAT? Emerging Risk – A changing claims landscape Cyber, Environmental & Supply Chain risk – keeping you awake at night! WHY? Impact us all… To what extent?

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Emerging Risks: A Changing Claims Landscape

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  1. Emerging Risks: A Changing Claims Landscape

  2. Paul HandyDirector, Global Technical Services

  3. What? Why? Who? and How? WHAT? • Emerging Risk – A changing claims landscape • Cyber, Environmental & Supply Chain risk – keeping you awake at night! WHY? • Impact us all… • To what extent? • Is the risk covered by my Insurance Programme? environmental supply chain cyber

  4. What? Why? Who? and How? • Growing reliance on technology, particularly interconnectivity of systems • Global cost to businesses in 2013 estimated at $445bn • 93% of large UK corporations reported a cyber breach in 2013 • 91% of financial attacks attributed to organised crime gangs • 7/10 frauds are now cyber crime • Increasing regulatory and punitive costs associated with remediation. WHY? environmental supply chain cyber

  5. What? Why? Who? and How? WHY? • Increased awareness and litigious society • Erin Brokovich – class action for ground water contamination $3bn • Camelford, UK – aluminium sulphate, ongoing • Fracking – perceived risk, claims? • Exposure, do you understand the full extent of your risk? environmental supply chain cyber

  6. What? Why? Who? and How? • Increased globalisation and complexity • BI & supply chain losses account for 50-70% of all insured property losses • Reputation and brand protection • Risk derives from: • Natural catastrophes • Man made events • Economic • Socio-economic causes WHY? environmental supply chain cyber

  7. What? Why? Who? and How? WHO? CYBER RISK EUR ING Mark HawksworthBSc(Hons) PhD(MSc) ACII CEng MBCS MIET MCGI BDMA (Ins Tech) Corporate & Major Incident Team, Global Technical Services ENVIRONMENTAL RISK David Waller LLB(Hons) ACII ACILAHead of Environmental Adjusting, Global Technical Services SUPPLY CHAIN RISK Ian Hasson MA, FCA, ACILA Head of Forensic Accounting, EMEA, Global Technical Services

  8. Ian Bell Training & Development Consultant, Crawford Academy

  9. What? Why? Who? and How? HOW? Introduction and background • What your initial measures would be • How you would complete a thorough investigation • What factors affect the extent of loss/damage /policy issues/coverage gaps • What remediation should be undertaken. Summary & Close

  10. Scenarios Group One environmental supply chain cyber Group Two Group Three

  11. Summary

  12. Further Information Please visit us on Stand 64, 65 (between the seating areas)

  13. Emerging Risks: A Changing Claims Landscape

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