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Systemic threats to fuel demand for insurance cover

Posted On: Mar. 24, 2023 9:46 AM CST

John Neal, chief executive of Lloyd’s of London, expects financial risks following banking failures in Europe and the U.S. and systemic threats such as climate change and pandemics to fuel demand for cover with global insurance spending likely to double in the next decade, Financial Times reported. He also highlighted growth in faster-growing segments like intellectual property and cyber cover.