Five minutes with Chris Jones, CEO of the IUA

Chris Jones, who took up his new role as CEO of the International Underwriting Association (IUA) this month, says attending the Airmic 2025 conference has reaffirmed his understanding of what is top of mind for risk professionals.

Representing insurers in the London company market, Jones was in Liverpool to meet with risk managers face to face. “It really is important for us to speak face to face with risk managers. You often find that their concerns are different to those of the brokers.”

He says the most pressing concerns he encountered at Airmic include the impact of climate change on property and people, the drive to sustainability, the increasing use of artificial intelligence, and the growing cyber threat.

Aggregation risks and contract clarity

One key focus was the language of insurance wordings and the role of the IUA in their development. “It is clear that risk managers are concerned around the aggregation risks they face and how they can best be understood and then managed,” he explained.

“The concerns over an event which has the potential to impact two or three major risks simultaneously has been discussed. Risk managers are looking for wordings which will include the appropriate language and how we can change wordings to enhance their clarity.”

He added: “What Airmic does do is allow us to speak directly to risk managers so we can better understand the issues they have and how we can work with our members of solutions.”

Jones acknowledged that differences of perspective are inevitable, but believes open discussion can improve mutual understanding. “We recognise there will always be areas where managers may have a view on what we do. The aim is to increase the risk managers’ understanding of the decisions the market takes and why they have taken them. It is not an exact science.

“We want to deliver contract clarity but there will be grey areas. It is why early collaboration is so important in order for risk managers’ views can be factored into what we do.”

Cyber, supply chains and systemic exposures

Unsurprisingly, cyber resilience was high on the list of emerging concerns. In particular, Jones said recent cyberattacks on major UK retailers have brought the issue of business interruption into sharper focus.

“In our discussion business interruption, and particularly in the event of a cyber-attack is a major concern,” he said. “The threat has become all too real in recent weeks and risk managers are looking at how best they can increase resilience and mitigate the risk.

“The same can be said for third party liability risks, particularly given the complexity and length of many supply chains.”

Jones sees these conversations as vital to helping the market respond more effectively. “If you can get a good understanding of the big issues that are concerning our clients it gives insurers a real opportunity to better meet their needs. Dialogue is key, and we need to ensure we can communicate appropriately.”

A broader view of emerging risks

As Jones steps into the leadership role at the IUA, he says systemic risks and protection gaps will be a major strategic focus.

“In terms of insurance topics, one of my initial priorities will be to reassess how the IUA approaches emerging and systemic risks,” he explains. “Rather than taking a siloed, class-specific view, we will explore a more integrated approach – one that helps our members understand, manage, and respond to the changing nature of risk, particularly where protection gaps are emerging for insurance buyers.”

He remains committed to the IUA’s existing pillars of modernisation, regulatory support, and technical capability. “Digitalisation, enhancing operational efficiency and the future regulatory environment remain crucial to our members and services. However, we must not lose sight of the fact that London as a global hub lives or dies by its underwriting and claims expertise. We will bring that front and central to our operations, by furthering our engagement with members on identifying and promoting technical excellence on key underwriting and claims issues, by developing our research function and by looking at risk more holistically.”

His final word? “I would like to shift our internal focus from recording meetings to driving meaningful outcomes. The IUA should be known not just for convening discussion, but for delivering impact.”