Insurance Banana Skins 2009

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We are delighted to share research conducted by the Centre for the Study of Financial Innovation (CSFI). It questions insurers on three areas: current risks, future trends, and their preparedness to respond to the risk environment. With 403 insurers and industry observers responding from 39 countries at a difficult time for financial services, we see significant change in how risks are perceived and prioritised.

We hope that this report will provide insights into the multitude of risks insurers face across the world and focus attention on addressing risk throughout an organisation.

You'll find more about Enterprise-wide Risk Management (ERM) and other issues facing insurers on the insurance webpage. If you would like to talk about any of the issues raised here, please contact those named in these web pages or your usual PricewaterhouseCoopers representative.

 

• Highlights from the report
• Risk
• Changing world

Top line results - Top risks

Rest of the top ten

Other "Big movers"

Life versus non-life top ten

Risk

Risk

1 2 3 4 5 6

Insurance Banana Skins 2009 ...how risks were ranked (2007 ranking in brackets)
1.	Investment performance (11)
2.	Equity markets (13)
3.	Capital availability (26)
4.	Macro-economic trends (-)
5.	Too much regulation (1)
6.	Risk management techniques (14)
7.	Reinsurance security (27)
8.	Complex instruments (19)
9.	Actuarial assumptions (8)
10.	Long tail liabilities (7)
11.	Interest rates (22)
12.	Managing the pricing cycle (5)
13.	Management quality (3)
14.	Managing costs (-)
15.	Insurance industry reputation (-)
16.	Distribution channels (6)
17.	Corporate governance (23)
18.	Political risks (16)
19.	Pricing new risks (17)
20.	Reinsurance availability (28)
21.	Managing technology (12)
22.	Natural catastrophes (2)
23.	Fraud (30)
24.	Back office (15)
25.	Retail sales practices (20)
26.	Terrorism (18)
27.	Business continuation (29)
28.	Climate change (4)
29.	Product development (-)
30.	Demographic trends (24)
31.	Managing mergers (31)
32.	New types of competitors (10)
33.	Contract wording (25)
34.	Pollution (21)
35.	Too little regulation (32)