Can insurers unite with governments against common threats?

Today’s top insurance risks may not be as sensational as people-eating monsters, but they do highlight the inarguable power of putting hands and heads together to solve urgent problems. (Photo: ra2 studio/Shutterstock)

Recently in the mood for some escapism, I streamed a sci-fi movie about people-eating aliens that attempt to overtake Earth. The film required viewers to suspend belief around any number of plot twists, however one detail resonated with me — a former student of international diplomacy. It was the hopeful idea that all the nations of the world could unite against a common threat.

The residue of this idealism remained in my mind a few days later as I read the results of the annual Global Claims Review 2022 generated by Allianz Global Corporate & Specialty (AGCS). The report assesses the top causes of insurance claims based on data from more than 200 countries and provides direction around the risks insurers should be monitoring. It incorporated 534,456 corporate claims with a total value of more than $90 billion.