Explore the Category
The City of Cape Town’s flooding and storms task team has recently announced that it has just completed its annual risk winter flooding assessment. The team notes that due to the drought experienced in the area, Cape Town residents need to prepare for the winter season. This is especially urgent due to various reports noting that Cape Town can expect rain this week.
Whilst volatile market conditions, regulation and compliance are just some of the concerns which are making it increasingly important for brokers and insurers to provide clients with sound risk management advice to help them mitigate risks, the risk landscape continues to evolve at a rapid pace.
• Business interruption is the biggest concern in transportation • Cyber incidents and natural catastrophes are new emerging risks for the sector • Theft, fraud, corruption moved up to second place • Changes in legislation and regulation declined as a risk.
• Cyber-crime, IT failure and data breaches are major concerns for the financial services sector • Changes in legislation and regulation are new emerging risks for the industry • Risks emanating from market developments have significantly reduced • The impact of new technologies on operations in the sector is now a risk
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?