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Chris Illman, head of responsible business, Beazley
With environmental issues at the bottom of business leaders’ concerns, the insurance industry must work hard to engage with clients and push these issues higher up the agenda, according to Beazley’s Chris Illman.
Published in mid-November, Beazley’s “Spotlight on Environmental Risks” found that environmental issues are bottom of business leaders’ concerns and set to fall further in 2022.
Only 12 percent of business leaders across 10 industry sectors in the UK and US rank environmental concerns (such as pandemic, climate change, and food security) as their top risk category in 2021. Looking forward to 2022 this falls to 9 percent.
“When you look at the environment, if you ask a number of people the same question they respond in a slightly different way. Environmental, social and corporate governance (ESG) factors are front and centre, but environmental issues are down the list,” said Chris Illman, head of responsible business at Beazley.
Beazley, COVID-19, Climate Change, ESG, Cyber Risk, Insurance, Reinsurance, Chris Illman, UK, North America