The CRO Forum’s Emerging Risk Initiative continually scans the horizon to identify and communicate emerging risks facing the insurance industry which are expected to have a significant impact on the insurance sector within 1 to 10 years. Emerging Risks are risks which may newly develop or which already exist and are continuously evolving. They are characterised by a high degree of uncertainty in terms of impacts and likelihood and may have a substantial potential impact on underwriting, investments and/or operations of an insurance company.
The following new risks have been added to the Radar in 2024:
- Social Fragmentation
- Economic Trade Conflicts and Sanctions
The following changes were made to risks that were already included in 2023:
- Blockchain Technology and Digital Currencies and New insurance competition have been removed.
- Climate engineering and Energy storage systems have been merged.
We hope you find the report useful and welcome your comments and feedback.