WIN Magazine - Fall 2015 - (Page 13)

feature Risk ExposuREs of Global food ShortaGeS & Security By Nick Beecroft edItor's Note: The following article is part of our regular series of profiling an emerging risk exposure in the quarterly issues of Wholesale Insurance News magazine. The AAMGA's Emerging Issues and Trends Committee is continuing its efforts to identify, research, evaluate and report on the various emerging exposures impacting the wholesale insurance industry. As part of that effort, the Committee has developed a survey which will further aid in identifying and evaluating those issues having an impact upon our marketplace, as well as to then rank these exposures on the Annual Heat Map produced for the industry. The effort will be to stay ahead of the constantly evolving exposures by looking for ways in which they can  best  be analyzed,  rated, underwritten and managed. 1,000,000,000 people go huNgry every year, a fIgure that could trIple by 2050. A shock to the global food supply could trigger significant claims across multiple classes of insurance, including (but not limited to) terrorism and political violence, political risk, business interruption, marine We encourage you to take the survey, which can be accessed by clicking on the attached link, or entering the following URL into your Web browser: This will better enable the Emerging Issues and Trends Committee in continuing to develop data and undertake the analytical process of making wholesale insurance professionals better prepared for what lies ahead. We will report on the outcome of the survey in one of our future issues. In this issue of WIN magazine, we are privileged to offer the views of Nick Beecroft and his colleagues at Lloyd's, on the growing risk exposures - both domestically and internationally - pertaining to food shortages and the security of the global food supply. During the daily course of underwriting property and casualty risks, the implications of food shortages are not always top of mind. They should be. and aviation, agriculture, environmental liability, and product liability and recall. These losses could be compounded by the potential for a food system shock to last for many years; and the ability of insurers to pay claims quickly is expected to be an important factor in post-shock recovery. More broadly, the insurance industry may also be affected by impacts on investment income and the global regulatory and business environment. As businesses become increasingly aware of the threat posed by food system disruption, they may invest more heavily in comprehensive risk transfer structures, and a severe W I N | F a l l 2 0 15 | 13

Table of Contents for the Digital Edition of WIN Magazine - Fall 2015

Risk Exposures of Global Food Shortages & Security
Predictive Analytics and Surplus Lines: Freedom of Rate but Not Free of Unfair Discrimination
It’s Not Easy Being Green: Assessing the Impact of Green Construction on CGL Exposures
The Case for Trade Disruption Insurance in the E&S Market
Managing Human Resources in an Increasingly Complex Insurance Industry
Developing an Effective Mentoring Program
Workflow Efficiency: What’s in it for You?
Prominent Defenses Undercut in Data Breach Lawsuits and Class Actions
Cyber Crime and Data Breaches
Index of Advertisers

WIN Magazine - Fall 2015