25 January 2018
The expansion of the ‘cat’ (catastrophe) bond market and ‘seismic’ changes to the medical malpractice insurance market are among the top 10 predicted highlights of 2018, according to law firm RPC’s Annual Insurance Review. A government-backed scheme will help resolve the problem of GPs leaving practice due to rising insurance premiums. In the ‘cat’ market, drones, satellite imaging and other gadgetry will help the insurance industry write better risks. Overall, technology ‘from the higher risks related to data breaches to the impact of blockchain and driverless ships’ is a common theme of 2018, said Simon Laird, RPC’s global head of insurance.
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