Climate change, cyberattacks… Insurers’ fears for 2022

Cyberattacks and natural disasters linked to climate change occupy the podium of the main risks identified for 2022 by insurers, said the association France Assureurs on Monday.

The multiplication of attacks against economically and politically strategic targets in 2021 contributes to maintaining the risk of major cyberattacks at the top of the risk rankings for insurance and reinsurance companies, note the authors of the fifth edition of the Prospective Mapping of the ‘assurance. Cyberattacks are the number one concern for insurers and reinsurers since the first edition of the study, she specifies.

More frequent and more damaging climatic phenomena

The natural disasters, divided into two categories (meteorological events such as droughts or floods on the one hand, exceptional phenomena such as volcanic or solar eruptions on the other) come just behind. Their position illustrates the severity of climatic phenomena, which are more frequent, more damaging and have global consequences, particularly on the health of populations, infrastructures and the entire economic system.

France Assureurs illustrates its data with two events of 2021: the deadly floods in Germany, Belgium and neighboring countries in July as well as the passage of Hurricane Ida in the United States at the end of August. The estimated cost for the insurers of these two disasters is 13 billion dollars in Europe and 30 to 32 billion dollars across the Atlantic, according to the professional association. In December, the reinsurer Swiss Re estimated that the insurance cost of natural disasters would reach 105 billion dollars in 2021, placing the year fourth in terms of severity since 1970.

The economic environment, in fifth position, as well as the epidemic risks, in tenth position, are also down sharply from the previous ranking.

Car Insurance : save up to 340 € thanks our online comparator

This risk mapping was carried out at the end of last year with 86 sector managers, according to the methodology.

Reproduction forbidden.

source site-96