Insurance is a method of achieving resilience and stability for people, families, and businesses. Insurers take that responsibility seriously—especially in times of war when people’s lives and communities face risks they could be unable to mitigate.
Because the crisis in Ukraine unfolds, the world is witnessing the pain of a rustic under invasion and the uncertainty that comes with not knowing when or how it would end. It’s heartbreaking to see within the news and a nightmare for those closest to it. What’s heartening is seeing the worldwide response to sentence violence and help people and communities in need.
The invasion of Ukraine is unfortunately not our only international crisis. The war in Yemen has raged for seven years and is now the worst humanitarian crisis on the earth. We must all consider find out how to help those caught within the crossfire—each literal and figurative—as cross-regional geopolitical risk grows.
While these news items overshadow most others, there are threats to safety and well-being all over the place. In our monthly Insurance News Evaluation discussion, Abbey Compton and I speak about a couple of of those:
- The settlement of the Sandy Hook lawsuit led to $73 million in claims. The case was based on how the gun manufacturer marketed its product, however it raises questions beyond marketing for insurers whose industrial lines customers manufacture potentially hazardous products.
- We’re hearing more in regards to the inevitable expansion of the metaverse. We’re also hearing more about claims resulting from metaverse activity.
- Finally, we speak about how regulators are getting involved within the pricing of property insurance.