As the world emerges from the COVID-19 pandemic, the insurance industry will not be going back to business as usual. Rather, insurers are going forward to face new risks and new rules.
In this month’s Insurance News Analysis, Abbey Compton and I talk about moves by the U.S. and U.K. governments that insurers will want to watch.
President Joe Biden issued two executive orders. One mandates the creation of a climate-risk strategy. Another requires IT service providers with government contracts to share information on cyber incidents. Both have potential benefits and likely compliance implications for insurers.
In the U.K. there are moves to allow self-driving cars on roadways. There may be concerns about the risks associated with autonomous driving technology. Either way, that technology is coming, and insurers need to prepare.
We also discuss the complexities of travel insurance amid shifting travel restrictions and some encouraging earnings reports.
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