Quotes of Note

If your insurance company is going to increase your premium, you have a right to know why. … This is pretty basic information you should expect from your insurance company, but we hear from hundreds of consumers every year who cannot get a clear, understandable answer on why they’re being charged more.

“The rules are fuzzy. It’s not clear what is allowed, what isn’t allowed.”

Ransomware has become a scourge on nearly every facet of our lives, and it’s a prime example of the vulnerabilities that are emerging as our digital and our physical infrastructure increasingly converge.

We’ve been wondering when the metaphorical dam’s going to break, and the product liabilities are going to come out of the woodwork. I feel like we’re starting to see the cracks in the foundation happening now, in respect of the product recalls.

If you’ve reached an exponential part of the curve where suddenly, something’s accelerating, it’s almost certain that we are underpricing the risk that we’re taking.

In this new year, industry colleagues worldwide should challenge themselves to accelerate the development of a culture in which everyone can be successful.

“It will change how you get to work, how you interact with policy holders, and how you adapt to changing conditions and requirements. It’s highly likely that the insurance industry will change more in the next 15 years than it has in the previous 100.”

“In 2008, you could have probably sat the whole of the London M&A insurance community round a meeting room table. Now there are more than 300 people in that market.”

“The legal battle over who will ultimately share in paying for losses associated with the pandemic is far from over.”

“This is the first firming market I have seen since I joined the insurance industry, so it certainly looks a lot different than it did when I started.”