The insurance industry is facing a period of uncertainty against a backdrop of challenges from terrorism and regulation, JLT Risk Solutions chief executive Mike Hammond said.
Hammond said since 9/11 business had experienced “peaks and troughs” in an ever changing political, economic and social atmosphere.
The regulatory environment, he said, was “placing a strain on business” economically, while necessary risk management brought new obstacles and negative publicity.
The challenge before the industry was how it dealt “with such a dynamic and volatile risk and insurance environment.”
Hammond said by working together the industry would achieve efficient and cost effective solutions to uncertain challenges.
