Crisis Management
| Countries | Trend | |||
|---|---|---|---|---|
| Terrorism | Accident and Health | Kidnap and Ransom | Contingency | |
| Germany & Austria |  |
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| Switzerland | |
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| Poland | |
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| Ireland |  |
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| Denmark | |
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| Norway | |
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| Sweden & Finland | |
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| France | |
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| Luxembourg | |
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| Belgium | |
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| Netherlands | |
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| Italy | |
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| Portugal | |
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| Spain | |
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The crisis management insurance market is experiencing:
- Insurers paying and reserving for the continuation of the largest losses in the market’s history due to the crisis in Ukraine.
- Clarity is required regarding exclusionary language in property policies offered by certain European carriers, specifically whether terrorism exclusions extend to SRCC coverage.
- Accident and Health market buoyant with new capacity providers entering a saturated market.
- Increasing pressure on (re)insurers due to the conflict in the Middle East and Ukraine.
- No major losses across sub-classes with the exception of Contingency which has experienced significant losses across outdoor festivals for three years running.
- Kidnap and Ransom rates largely stabilizing with some moderate increases of +5-10% in response to greater claims frequency/severity, heightened geo-political tensions/security risks.
- Piracy in the Indian Ocean and Red Sea is an area of particular concern with a significant increase in attacks against commercial shipping.
