We take a look at the top Connected Risks in 2018.
The Year Ahead: Risks and Opportunities in 2018
01 February 2018 | White Paper
A New Year for many promises a fresh start. Yet, if you are a (re)insurer or a risk manager, then 2018 promises a continuation of the new and emerging risks that have emerged over the last few years.
January is also the time when organisations and corporates indulge in a bout of crystal-ball gazing as they seek to try and predict the trends and risks that will dominate the year. Yet, as 2016 showed, reality has a funny way of making its own mind up.
Russell Group enters the fray in a slightly different manner. For, we are not going to focus too much on the big questions but rather the less discussed trends that in the long term will become critical risk drivers. Trends that if not managed in a correct way, will create potential challenges and opportunities for corporates and (re)insurers. In other words, to quote UK Environment Secretary Michael Gove, “In this unfrozen moment, new possibilities occur.”
It is often these lesser spotted trends that emerge to be the most dominant theme for an era. For instance, in the early 1990s and 2000s, cyber insurance was a relatively new concept, pioneered in Lloyd’s of London in 2000. Yet, according to many predictions, cyber insurance premiums are expected to hit $20 billion by 2025 and is now a must-have insurance cover for many corporates.
Looking ahead 10 years is something we will leave to Science Fiction writers and film makers – for now – so in this new Russell Group white paper, we look at the top connected risks in 2018. Risks, that we will be exploring in more-depth over the next 12 months.