Volatile commodity markets are reshaping the way insurers assess business interruption risk, particularly in sectors such as energy, renewables, and mining. The standard Industrial Special Risk (ISR) Mark IV formula for calculating loss of gross profit is showing its limitations in this environment, often producing results that do not reflect the commercial realities of commodity-driven […]

Artificial Intelligence is reshaping how insurers assess and manage risk, particularly as Large Language Models (LLMs) like ChatGPT become more widely used. While AI offers promising efficiencies, its application in complex claims environments remains limited. Andrew Bott, Executive Loss Adjuster at Chubb Insurance and finalist in Wotton Kearney’s Turning Point 2024/25 Competition, explores this emerging […]

Australia has set an ambitious target of achieving 82% renewable energy by 2030. However, with this goal unlikely to be met, reliance on fossil fuels is expected to remain significant for longer than initially planned. At the same time, insurers are reducing their underwriting exposure to coal and fossil fuel projects while expanding capacity for […]