Gallagher's latest insurance market overview report out now
Published 26 February 2018
Gallagher has released its first insurance market overview report of 2018, examining what impact colliding market forces will have on business operations, risk management and insurance programs in the year ahead.
The report asks whether 2018 is set to be the year of the reality check following one of the worst years on record for environmental risk-related insurance claims. In Australia alone, catastrophe events in 2017 caused almost $2 billion of insured losses, leading to insurers raising premiums in many coastal and off-shore areas of the country.
Featuring insights from Gallagher's network of broker specialists, the report also includes commentary and analysis on:
How the insurance market is responding to the needs of the Australian start-up fintech sector
The green shoots of recovery that could be in evidence in the mining and resources sector
The increasing complexity of insolvency appointments in the last 6-8 months
Whether the east coast infrastructure boom will be hampered by a civil engineering skills shortage
Insurance implications of the ongoing cladding crisis in commercial and residential property
What's causing upward pressure on insurance premiums in the energy, oil and gas sectors
The need for entertainment venues, shopping centres and public spaces to minimise their risk of 'lone wolf' terror attacks
Sarah Lyons, Gallagher's Chief Executive - Australia, said: "We enter 2018 with a pragmatic view of what will play out in the months ahead.
"While it would be realistic to expect ongoing changes to the market, the role of a broker as a trusted advicror to the Australian business community remains as critical and relevant as ever, and relationships will continue to be the driving force behind achieving successful outcomes for clients."
How to access the Q1 insurance market overview report