Uncertainty driving change

Natural and human-made threats to economic growth, public health and productivity are increasing. Individuals, communities and businesses struggle with both the assessment of, and response to, the changing nature of risk. Global pandemics, climate change, sea-level rise, shifting population densities and extreme weather events are changing the nature of property risk. Technology, cyber events and the transition from an asset-based economy to an economy based on intangible assets contribute to evolving casualty risk. This changing nature of risk amplifies uncertainty, prompting adaptation in reinsurers’  approaches to managing risk, says Guy Carpenter’s Tony Gallagher.

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