IUA survey results show climate risk is the top challenge facing London market

Article summary

The International Underwriting Association (IUA) have published a survey on the top three challenges facing companies in the London market, with 27% of respondents indicating climate change and wider environmental, social and governance issues as the top challenge. The second biggest challenge was regulatory change at 27%, and the third was challenges raised by the coronavirus (COVID-19) pandemic and the shift to remote working at 17%. Climate risk was also voted the most important emerging risks for insurance coverage, increasing from 7% of answers in 2017 to now accounting for 45% of answers.