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London Market Insurance Update H1 2024

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We are pleased to share the Lockton H1 2024 London Insurance Market Update, intended to keep you abreast with underwriting and risk trends from a London Market perspective. This issue contains insights from 20 business segments across Lockton, along with a spotlight feature on our MENA operations and trends pertinent to that market. Our largest update to date, it is a testament to our continued growth as a business. London Market Insurance Update H1 2024

London Market Insurance Update H1 2024

article
We are pleased to share the Lockton H1 2024 London Market Insurance Update, intended to keep you abreast with underwriting and risk trends from a London Market perspective. This issue contains insights from 20 business segments across Lockton, along with a spo ...
Read moreLondon Market Insurance Update H1 2024

The risk evolution of automated storage systems

Automated storage and retrieval systems (ASRS’s) are being used in warehouses more frequently to improve efficiency. The technology has the potential to reduce human error, optimise space utilisation, and enable faster order fulfilment. However, claims resulting from system failures and insufficient risk mitigation measures are on the rise. Businesses need to identify, monitor, and protect against potential hazards, particularly those related to fire, not least to be able to secure appropriate insurance cover.Automated storage and retrieval systems (ASRS’s) are being used in warehouses more frequently to improve efficiency. The technology has the potential to reduce human error, optimise space utilisation, and enable faster order fulfilment. However, claims resulting from system failures and insufficient risk mitigation measures are on the rise. Businesses need to identify, monitor, and protect against potential hazards, particularly those related to fire, not least to be able to secure appropriate insurance cover.

Addressing the growing risk of blades detaching from wind turbines

Wind turbines are an increasingly popular form of energy generation. Although dependent on size, their ability to potentially power a home for two days with a single rotation has contributed to a 9% YoY growth of total installed wind capacity to 906 GW in 2022, according to the Global Wind Energy Council. However, a recent incident in the the UK where a wind turbine shed blades highlights the changing weather conditions that designers have to address, when looking at the extremes of weather that may be seen in operation. Wind turbines are an increasingly popular form of energy generation. Although dependent on size, their ability to potentially power a home for two days with a single rotation has contributed to a 9% YoY growth of total installed wind capacity to 906 GW in 2022, according to the Global Wind Energy Council. However, a recent incident in the the UK where a wind turbine shed blades highlights the changing weather conditions that designers have to address, when looking at the extremes of weather that may be seen in operation.

Professional services firms: how to navigate cyber risks

In an era dominated by digital transformation, the professional services sector is perched on the precipice of cyber risk. As firms increasingly digitise their operations, the allure of efficiency and convenience is accompanied by a lurking threat: the ever-evolving realm of cyber threats.In an era dominated by digital transformation, the professional services sector is perched on the precipice of cyber risk. As firms increasingly digitise their operations, the allure of efficiency and convenience is accompanied by a lurking threat: the ever-evolving realm of cyber threats.
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