Second annual report highlights top three insurer issues country-by-country around the globe.
Global Insurance Law Connect, of which BLM is a founder member, today launched its second annual Risk Radar, the global review of the important legal, regulatory and socio-economic issues facing insurers across the globe.
In our market in England and Wales, the top three issues we identified in this second report are Brexit, regulatory activity and whiplash reform. For our team in Ireland it was legislation (Judicial Council Act 2019), the Consumer Insurance Act 2019 and Brexit. Scotland identified its top three issues as Brexit, Scottish independence and Scottish legislative initiatives.
Jim Sherwood, Chairman of Global Insurance Law Connect commented: “Other market challenges still exist, some of them hugely significant in their own right; and some, such as climate change, brought into new focus by the notable impact of the global economic shutdown. These issues remain important and are the focus of this year’s RADAR report. Meanwhile, the report also casts a light on country-specific issues in many of the major and growing insurance markets around the world.”
Shortly after our members drafted this year’s report, the world was shocked by the advent of the COVID-19 pandemic. As a result, we have decided that we will tackle the specific legal issues raised by coronavirus in a separate report in the coming months.
To download your copy of the Risk Radar, please click here