Market reform supported by underwriters

by Richard Kilner

Story link: Market reform supported by underwriters

Lloyd’s has conducted research which revals that 82% of responding underwriters back market reform of business processes.

Last month new statistics from the Market Reform Group showed that business process reformation had been making substantial advances.

The single most pressing matter revealed by the new research is the management of the insurance cycle, cited by over nine-tenths of respondents.

More than two-thirds of those surveyed also believe that more needs to be done to manage the cycle.

Lloyd’s choice to focus upon the emerging risk of liability has been backed by the research, with 62% believing that businesses need to do more to prepare themselves for it.

Climate change and terrorism are also areas that the research suggests will grow in importance in the near future.