We live in a world shaped by the classical elements of earth, water, air and fire. Over the near 350-year history of Lloyd’s, the insurance industry has evolved and innovated to manage the risks related to the four elements; from its roots insuring maritime trade across the world’s oceans and seas (water) and then into non‑marine areas such as hurricanes (air), earthquakes (earth) and fire. Our report, Hiscox Elements, illustrates that the role of insurance is no longer just about managing these risks, but also mitigating their impact, while helping businesses and organisations take advantage of the growth opportunities the elements offer, such as the development and expansion of wind power generation.
“Hiscox Elements sets out to explore and examine the many threats and opportunities connected to the classical elements of earth, water, air and fire. The report reveals that, as the risk profile of the elements shifts, particularly due to factors like changing weather patterns, so does the insurance response.”
– Kate Markham, Chief Executive Officer, Hiscox London Market