Since I joined Hiscox London Market in November 2017, everyone here has put a huge amount of work into developing our future business strategy. At its heart is the creation of a new goal for our business, which is to lead the way in emerging risk.
Why did we choose this goal?
Our former chairman Robert Hiscox was fond of saying that Hiscox was a business that always "advances to the sound of gunfire". In today’s world, the sound of that metaphorical "gunfire" is getting louder for many in terms of new risks to existing customers, new risks to new industries and new risks in emerging economies. We want to be the business that pushes the boundaries to create new, innovative insurance and risk management solutions to help our clients manage those emerging exposures. As our CEO Bronek Masojada says in the video: “When the first autonomous ship comes into the Lloyd’s market, we should be leading the underwriting on that risk.”
Watch the video for both our take on emerging risk along with welcome contributions from Aon's Dominic Christian, JLT's John Lloyd, and Trevor Maynard, Lloyd's Head of Innovation, as well as Robert Hannigan, the former director of GCHQ and Hiscox's new consultant on cyber risks.
In this edition of Hiscox Global Insight, we look at how the London Market can help provide capacity for Californian homeowners as the Golden State recovers from the worst wildfires in its history. Our Chief Underwriting Officer Paul Lawrence assesses the current state of the London Market and we look at whether earthquake scientists are any closer to accurately predicting when the next Big One may strike.
Also, Bobby Read traces the impact of warfare or wine, we spend 60 seconds with the new head of the Hiscox London Market Underwriting Centre; and, find out about one Hiscox employee’s mission to support young professionals to fulfill their potential.
I hope you enjoy reading this issue.