Inflationary environment has always been a challenge for insurers and their clients. Particularly in Property and CAR lines, inflation is pushing up replacement and labour costs, eventually increasing insurance premiums. The simple roll over of values from one year to the next is no recipe anymore, and insurers and their clients need to partner to gain a mutual understanding of risks and actualized values to be insured on the coming renewals. This will help to mitigate soaring insurance premiums.

Since war spread in Ukraine several months ago, insurers have been struggling to continue to offer comprehensive War Risks cover on the territory. Most carriers have cancelled War covers, whilst a few continue to support clients needs on the ground with comprehensive War Risk covers. After having skyrocketed, rates have gradually decreased over the last month. They remain however high and a thorough check on wordings is a must to ensure clients receive value for money.

In line with the continuous increase of Cyber exposure in all industries and size of companies, insurance rates continue to rise and Risk Management improvements are key to obtain good cover at fair prices for large Corporate. Loss frequency and severtiy is on the rise. The insurance market for SME remains stable with a fairly good choice of carriers offering different products.

In countries particularly sensitive to War and Terrorism exposures, it is a must for buyers of International healthcare insurance to clarify the response of their wordings to War and Terrorism prior to sending staff around. The multiplicity of policy wordings and differentiated Risk Assessment by Forein Offices of goverments can turn the comprehension of coverage for buyers into a tricky exercise.