The rule of three is a writing principle that is based on the idea that information is best processed through pattern recognition and brevity, with three being the smallest number of elements required to create memorable patterns. It is pervasive through some of our greatest stories and speeches and has been used as a basis for military planning, business management and political manifestos. In our latest newsletter, the WTW Research Network happily follows this rule with the release of three significant publications from across our research portfolio.
At New York Climate Week we were delighted to see the launch of a new whitepaper, written alongside partners at the Sabin Center for Climate Change Law, Columbia University, focussing on the impact of climate litigation on the insurance market.
Secondly, a new WTW podcast - Geopolcast – is live, providing commentary and expert opinion on some of the most pressing geopolitical issues globally. The first edition features Lord Jonathan Evans, Director-General of MI5 until 2013, and Stuart Ashworth, who leads WTW's political risk business, and looks at the importance of geopolitics in the boardroom. We would also recommend that you listen to recording of our webinar WTW Outsmarting Uncertainty on September, 21 which will allow you to eavesdrop on simulated boardroom discussions during a fictional geopolitical risk scenario, echoing many of the tensions companies are currently wrestling with.
Finally, earlier this quarter our WTW Natural Catastrophe Review combined perspectives from our research partners and experts across WTW to explore some of the physical, vulnerability and socio-economic factors that contributed to natural disasters in the first half of 2023. Through this, we aim to provide a different reflection on the impact of natural catastrophe risk, lessons learned and emerging trends.
As always, please do get in touch with any questions or for more information on how we can support your conversations.
01
Exploring the impact of climate litigation risk on the insurance market.
02
An informative podcast series that explores geopolitics and its impact.
03
When modifying insurance catastrophe models for current and future climates, it’s vital to consider whether changes to losses are consistent with expectations and if there could be unquantified risks lurking in the tail.
04
Hailstorms pose a significant risk to exposed assets, necessitating accurate estimates for insurance pricing and risk mitigation.
05
For three years in a row, Earth’s largest ocean has been stuck in its La Niña configuration. Now the Pacific has flipped to El Niño, businesses should prepare for record-high temperatures, weird weather, & slower economic growth.
06
Wildfires ravaged Chile in February, affecting the Maule, Biobio, Ñuble, and Araucania regions. With similar fires in 2017, there’s growing concern about the deadly combination of climate & land-use change.
07
The global tropics have flipped from La Niña to El Niño. El Niño is one of our most dependable sources of seasonal hurricane forecast skill, but this year’s record hot North Atlantic Ocean will put El Niño’s hurricane-suppressing influence to the test.
08
Emerging technologies often harm consumers via corporate data breaches of identity theft,blockchain systems enabling crypto-asset scams,bullying on social media platforms & sensors for domestic abuse.
09
Whenever third-parties use personal identifiers to decide whether & who to send funds to, there’s a risk of identity theft but the economic costs mean individuals can insure against its consequences.
10
In May a rating agency proposed that early detection of cyber aggression should be factored into assessments of companies’ creditworthiness. This proposal follows a decision by Lloyd’s Market Association, an umbrella insurance organization, to no longer cover state-backed cyber attacks. The implication is clear: companies must do more to protect themselves against cyber aggression, because the market will be watching.
