Tony Tyler of Jardine Lloyd Thompson highlights some of the key concerns for UK risk managers

What are UK risk managers’ key concerns and discussion points for this conference? Tony Tyler of Jardine Lloyd Thompson suggests the following.

• Business continuity/supply chain - still a real issue with increased globalisation and unbundling of services and production and frequently to areas susceptible to natural disaster.

• Climate change - it is in the news and on the conference schedule so bound to encourage discussion. However, even scientists aren't all agreed about it and if it is happening can risk managers really do much about it? Perhaps a broader society issue but something to be borne in mind with longer term risk management planning - but how?

• Enterprise risk management - growing interest amongst risk managers who are possibly trying to understand how to apply this successfully.

• Inadvertent non disclosure of information by risk managers which results in insurers repudiating losses. Our recent CommTech forum revealed this to be a real issue amongst the delegates.

• Ensuring that buyers do not sacrifice cover at the expense of contract certainty. Basically making sure that larger buyers don't end up with off the shelf products rather than cover tailored specifically to them. Our insurance class specialists work hard with our clients to tailor their cover.

• Whilst insurers offer global policies do they really have the systems and structure to deliver consistent service across the world and that provides the quick flow of information (e.g. claims experience) that clients expect? Our perception is that global insurance management remains challenging.

• Non-damage business interruption cover.

• Claims service - as premiums fall do insurers focus more on claims (aptitude/willingness to pay)? Perhaps risk managers should make sure they have proper claims support from their broker.

• How can insureds differentiate themselves in the market? Even in a softer market this is important.

• Many insurers (especially Lloyd's) now operate a peer review process as part of regulatory compliance. Is this process stifling innovation and limiting the buyers’ options?

• How long will the soft market continue? Have we reached the bottom of the cycle or will it drop further? Do clients sign long term agreements or continue to ride the soft market due to good loss ratios and strong market balance sheets for all insurers?

• With market competition between insurers being so strong, do relationships still have the same meaning in respect of continuity?

• Claims preparation and presentation - insurers are seeking more information which can prove difficult and time consuming. What can risk managers do in advance of losses?

• Pandemic planning

• Reputation/brand damage.

• Growing interest from companies with mature captives in undertaking a strategic review of the captive to ensure that decisions made ten years ago, such as choice of domicile, remain valid for their business today.

• Fee and commission transparency.

• D&O and the arrangement of local cover (admitted versus non admitted).