Oliver Wild, president, AMRAE
The current hardening insurance market is driving greater interest in self-insurance via a captive and leading to a cooling of relations between companies and their insurers. AMRAE president Oliver Wild told Intelligent Insurer why insurers need to have a rethink—and talk to risk managers.
Oliver Wild, president of French risk management association AMRAE, arguably speaks for all risk managers when he highlights the sharp rise in rates, reduction in capacity and increased risk adversity from insurers as a spectre looming over 2021. It’s a problem that persists in multiple lines, regardless of efforts to minimise risks: risk managers who have, for example, worked closely with cybersecurity officers to mitigate cyber risk are still seeing price hikes and restrictions in terms of the coverage they are being offered.
“A mechanism such as a captive is great because you can mutualise different types of risks in the vehicle.” Oliver Wild, AMRAE
As discontent grows, self-insurance is becoming a more attractive solution.
AMRAE, Hardening market, Insurance, Reinsurance, Risk Management, Oliver Wild, France, Europe