At The Insider Scope 2010 seminar in London on 10 February 2010, Joe Plumeri, Chairman and Chief Executive of Willis – and “Number 1 Fan” of the insurance industry – put forward his outlook for the (re)insurance industry. During his speech, Mr Plumeri set out his “Top Ten Risks in 2010”. Of particular note are how many of these would not have featured in such a list at the start of the previous decade or, in some cases, even five years ago. Mr Plumeri’s list is set out below:
- Climate change
- Terrorism
- Pandemics
- Market capital risk
- Regulation and compliance
- Cost and availability of credit
- Globalisation
- Cyber security
- Piracy
- Reputation