Insurance

Will Banks and Kemal Erçevik When extreme weather hits, households typically turn to insurers to cushion the financial blow. But rising temperatures and greater exposure in high-risk areas could test the insurance sector’s capacity to absorb such losses. As the Financial Policy Committee has highlighted, climate change could create insurance protection gaps, leaving households vulnerable … Continue reading Opening the floodgates? Modelling spillovers from flood insurance protection gaps to UK mortgages →

Aly Soliman The insurance industry, sometimes perceived as slow to innovate, might witness a major transformation. Blockchain technology, known for its secure and transparent digital ledger, has the potential to revolutionise traditional insurance operations. This shift could potentially streamline processes, introduce new insurance models and products, and help manage emerging risks better. But what does … Continue reading Integrating blockchain into the insurance industry: is it a revolution brewing? →

I have this friend. A mountain of unexpected medical debt buried his family at the start of last year. At the same time, the closing of his business stuck him with six figures of personal debt. Liquidating a retirement account and maxing out credit cards bought him short-term breathing room. Mostly, though, it added interest […]

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John Hillier, Tom Perkins, Ryan Li, Hannah Bloomfield, Josie Lau, Stefan Claus, Paul Harrington, Shane Latchman and David Humphry In 2022 a sequence of storms (Dudley, Eunice and Franklin) inflicted a variety of hazards on the UK and across Northwest Europe, resulting in £2.5–4.2 billion in insured losses. They dramatically illustrate the potential risk of … Continue reading What if it’s a perfect storm? Stronger evidence that insurers should account for co-occurring weather hazards →