Aon's Global Market Insights Report
Q1 2022

Our latest Global Market Insights Report provides analysis of the global insurance market including pricing, coverage, and underwriting trends. It also examines the life sciences industry and dives into the risk, insurance and market trends that are impacting the industry as well as the market at large.
Key trends include:

  • Numerous impacts related to the unfolding geopolitical events in Eastern Europe are profound and expected to continue, showing the interconnectivity of emerging and established risks. The first quarter has seen increased volatility as rising commodity prices fueled inflationary pressure, decreased demand dampened global trading and global supply chains experienced further disruptions.
  • The market moderation that began in late 2021 continued in the first quarter, making conditions modestly favorable, especially for products and risk types targeted for insurer growth.
  • The cyber landscape remained volatile in the first quarter. Complex cyber losses continued to develop with multiple severity cases compounding on large events that occurred in recent years, while frequency of claims remained relatively constant year-on-year. Waiting periods for Business Interruption related coverage (e.g. Systems Failure Business Interruption, Dependent Business Interruption) increased. Ransomware co-insurance provisions, ransomware sub-limits, and sub-limits for Business Interruption, Systems Failure Business Interruption, and Dependent Business Interruption were introduced in certain client and industry segments, or when risk controls were deemed by insurers as insufficient. Insurers scrutinized the coverage offered for critical infrastructure, systemic, correlated events and restricted coverage on either a generalized or event specific (e.g., Log4j) basis. Insurers actively managed their global aggregate capacity and occasionally reduced limits offered. The underwriting process continued to gain rigor.

For more analysis and actionable insights to help you make better decisions, access the report below.

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