December 1, 2017

Insurance industry predictions 2018

Each working day between now and Christmas we will be publishing insurance industry predictions from Clyde & Co's global insurance practice.

December 22nd

  • Ned Kirk predicts that in 2018, there may be a decrease in regulatory activity as U.S. regulators apply a lighter touch. Read his full prediction here.
  • Jo-Anne Demers and Laurent Durocher-Dumais predict that in 2018, legislative changes should bring about a more competitive market among insurers in Quebec, to the benefit of consumers. Read their full prediction here.

December 21st

  • Yannis Samothrakis predicts that as insurers get up to cruising speed on Solvency II, a wave of run-off activity and transactions will follow in France. Read his full prediction here.
  • Doug Horelick predicts that autonomous vehicles will certainly be on the move in 2018, and we are sure to see an uptick in accidents. Read his full prediction here.
  • Ernie Van Der Vyver predicts that in 2018, as South Africa’s long awaited Insurance Bill is promulgated during the first half of the year, re/insurers face an agonizingly busy period to implement Insurance Bill provisions. Read his prediction here.

December 20th

  • Simon Konsta predicts that 2018 will be the year that re/insurers wake up to the potential that lies in focusing on resilience and closing the protection gap. Read his full prediction here.
  • Mark Hemsted says the UK sets off down the road to its autonomous driving future in 2018 with the enactment of the Automated and Electric Vehicles Bill. Read his full prediction here.

December 19th

  • Mark Hemsted predicts that in 2018, Brexit legislation will have a significant impact on the insurance sector, with the Civil Liability Bill likely to be put in slow lane. Read his full prediction here.
  • Graeme Watson predicts that in the upcoming year, historic abuse claims will expand significantly in Scotland, and elsewhere, as legislative changes remove time bars on abuse claims. Read the full prediction here.        
  • Jeff Ellis predicts that in 2018, as states and municipalities lose the right to regulate drone flight, their focus is likely to shift to requiring third party insurance coverage. Read his full prediction here.

December 18th

  • Michael Cripps predicts that in 2018, e-commerce transaction insurance in China will see triple-digit premium growth. Read the full prediction here.
  • James Cooper predicts that 2018 will almost certainly see post-Insurance Act policy disputes. Read his full prediction here.
  • David Wynn predicts that nanomaterials, with the cancer risk they pose, could become the next wave of legacy claims in 2018. Read his full prediction here

December 15th

  • Avryl Lattin predicts that in 2018,  Australian insurtech start-ups will emerge from the regulatory sandbox. Read her full prediction here.
  • Ernie Van Der Vyver predicts that in 2018, South African re/insurers will seek creative solutions to counter low economic growth. Read his full prediction here.
  • Vikram Sidhu predicts that in 2018, deal-making in the US insurance industry will rise. Read his full prediction here.

December 14th

  • Joyce Chan predicts that 2018 is likely to be the year of innovation for the insurance market in Hong Kong.  Read her full prediction here.
  • Andrew Holderness predicts that in 2018, the losses from hurricanes Harvey, Irma, Maria and Nate could act as a catalyst for deals. Read his full prediction here. 

December 13th

  • Ian Stewart predicts that in 2018, Singapore will emerge as an ILS hub, as the Monetary Authority of Singapore (MAS) offers grants to kick-start the market. Read the full prediction here.
  • Nigel Brook predicts that in 2018, as insurtech becomes more central to the provision of insurance, regulators will need to up their game, and take notice of insurers' use of algorithms. Read the full prediction here.

December 12th

  • Tom White predicts that in 2018, professional services firms will continue to embrace technology, but will have to consider the novel risks presented by innovation. Read the full prediction here.

  • Dr.Henning Schaloske predicts that 2018 will be a pivotal year for the German D&O market, with Dieselgate set to have a deep and lasting impact. Read the full prediction here.

December 11th

  • Peter Hodgins predicts that in 2018, the life insurance sector in the UAE is set for a shake up. Read the full prediction here.
  • Peter Hodgins predicts that after the UAE implement Solvency II style regulations in January 2018, other GCC countries will not be far behind. Read the full prediction here.

December 8th

  • Stirling Leech predicts that in 2018, crisis and opportunity will drive market developments in Latin America. Read the full prediction here.
  • Marcus O'Brien predicts that the use of combustible cladding on commercial buildings in Australia will create difficulties for insurers in 2018. Read the full prediction here.

December 7th

  • Peter Walmsley predicts that 2018 will be the year the Ogden rate saga draws to a conclusion. Read the full prediction here.
  • Peter Walmsley predicts that, as advances in prosthetics gain pace, they may start to pay dividends for insurers for the first time in 2018. Read the full prediction here.

December 6th

  • Helen Bourne predicts that insurers and brokers ignoring the possibilities of Internet of Things will be left behind in 2018. Read the full prediction here.

  • Mark Williamson predicts that the insurance sector will miss the GDPR compliance deadline in May 2018. Read the full prediction here.

December 5th

  • Fred Fein predicts that wearable technology will significantly impact personal injury litigation in 2018. Read the full prediction here.

December 4th

  • Avril Lattin and Yvonne Lam predict that  enhanced regulatory oversight will demand more robust corporate governance in Australia. Read the full prediction here.

  • Mark Sutton predicts the shifting risk landscape will lead to D&O product development. Read the full prediction here. 

December 1st

  • Joan D'Ambrosio (San Francisco) predicts insurers will look to better quantify, and increase efforts to avoid, unintended “silent cyber” exposures. Read the full prediction here.
  • Christina Terplan (San Francisco) predicts more Companies will seek insurance coverage for business interruption from cyber events. Read the full prediction here.
  • Dean Carrigan, Ben Di Marco and Nitesh Patel (Sydney) predict incoming data protection regulation will  lead to a spike in claims. Read the full prediction here.