Claims trends and Solvency II biggest forces for Europeans
Natural catastrophe claims, Solvency II’s impact on capacity and cost, and increasing liability claims are European risk managers’ top concerns for the next three years.
Solvency II’s impact on captives was a major concern for 41% of European captive owners, showed a survey by the Federation of European Risk Managers Association (FERMA).
The report said: “For 42% of respondents the arrangements and purchase of insurance programmes might change in order to comply with evolving laws and regulations worldwide.”
Compliance and the downgrading of insurance players were also listed as key issues to impact insurance terms and conditions over the next three years.
German risk managers are most concerned about natural catastrophe claims, while Italians named increased liability claims as the biggest issue.
French risk managers, meanwhile, are most concerned about Solvency II’s potential impact on insurance capacity and cost.