The insurance sector is constantly evolving, and staying ahead of the curve is crucial for professionals within the industry. At our recent InsureInsight event we had the privilege of hosting experts who explored some of the key trends and challenges shaping the insurance landscape. With a focus on issues faced by the insurance sector, this event brought together over 60 insurance professionals, including in-house legal teams, General Counsel, Board members, NEDs, and individuals specialising in regulatory compliance, data protection and financial crime.
Hot Topics
Cybersecurity Risks Facing the Insurance Sector - Managing Threats, Vulnerabilities, and Legal Compliance
- Stewart Room took the stage to address one of the most pressing concerns facing the insurance sector: cyber security risks. The session delved into the world of cyber threats. Attendees gained a deeper understanding of cyber threat vectors and threat actors, as well as strategies for measuring, treating vulnerabilities and mitigating risks. The session provided valuable insights into the steps that need to be taken to protect sensitive information.
The Rise of Class Actions in the UK and the EU - Why Now? Helping Insurers Manage the Risk and Plan for Litigation
- Dan Williams and Katrina Boyd's session tackled the emergence of class action lawsuits. Attendees were engaged in an exploration of the legal and economic landscape that has propelled class actions to the fore in the UK and EU. The speakers highlighted potential growth areas and offered practical guidance for insurers to effectively manage their exposure to group litigation.
Economic Crime and Fraud - Helping Insurers and Their Insureds Navigate the Approaching Storm
- Euros Jones and Imogen Makin's session examined the anticipated changes in legislation relating to economic crime and fraud. With a focus on the proposed failure to prevent fraud offence and an amendment to the "identification principle", Euros and Imogen provided practical tips on minimising risk for insurers and their insureds. Attendees gained a helpful insight into the potential impact of forthcoming legal changes and received guidance on mitigating associated risks.
The GC Guide to the Regulatory Outlook - Recent Developments and What is on the Horizon
- Jonathan Drake and Andrew Jacobs concluded the event with their comprehensive overview which provided a roadmap of the regulatory landscape for the next 12-18 months. Attendees, including General Counsels and Heads of Compliance/Risk, gained a quick-reference view of key regulatory initiatives impacting the insurance sector. Jonathan and Andrew summarised the implications and requirements of each major regulatory initiative, empowering attendees to stay compliant and adapt to upcoming changes.
The event fostered knowledge-sharing, provided practical guidance and equipped attendees with the tools to tackle the challenges and seize the opportunities that lie ahead. Overall the InsureInsight event was a resounding success, with an engaged audience and plenty of discussion points for the networking lunch that followed.
We extend thanks to our expert speakers and attendees who contributed to making the event so useful and relevant. It is by staying connected and informed that insurance professionals can better navigate the complexities of the sector.
InsureInsight
If you were not able to make it to the event, look out for our forthcoming series of blogs covering these important topics in more detail. You can also receive useful insurance sector content from our experts by registering to receive updates on our InsureInsight hub.
