News & Insights

The Perfect Storm? You decide.

Published 07 November 2017

Amidst ongoing debate surrounding Australia facing into a hardening insurance market cycle, the broader question remains as to whether a perfect storm lies lies ahead or it is merely a coincidence in timing.

In Gallagher's final Insurance Market Overview Report of 2017 we invite subject matter experts to give their perspective on emerging patterns and trends that are shaping insurance discussions for businesses across Australia.

Sarah Lyons, Chief Executive (Australia), explains further, "Although the market is getting tougher in some respects, it is debatable as to whether we would class this as a hard market. That said, insurers are placing greater scrutiny on harder to place risks and this includes a deeper analysis of claims histories and the breadth and scope of cover being requested."

"Gallagher's broking team is well placed to advise businesses in these situations as they have strong relationships with insurers and specialist knowledge of the market. Changing market conditions make it more vital than ever to harness the strength of a trusted advisor and to understand exactly what is influencing premium rates and claims outcomes."

Amongst other things, the Q3/4 Insurance Market Overview Report covers:

  • Recent legislative and regulatory changes and their impact on Workplace Risk and the Marine sector;
  • The changing role of Australia's regulatory bodies and increased governance for corporate organisations, including the Federal Government's BEAR legislation;
  • A challenging claims environment following a challenging period of extreme weather events, cyber attacks and geopolitical change; and
  • Growing insolvency in the Construction sector.

Access the Q3-Q4 2017 Market Overview Reportchevron-right

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