Emerging Risks for Insurers


Emerging Risks for Insurers

Most insurance experts agree that they see cyber as the most critical emerging risk for the insurance industry. We have discussed cyber insurance and cyber threats many times on our blog. However, there are many emerging risks that insurance professionals should know.

Playground Risk

There is a new movement to bring risk back into parks and playgrounds. Risky children’s playgrounds, with features like steep drops, have been gaining popularity in Europe and are coming to the U.S. Proponents of risky playgrounds claim that “purposeful risky play promotes resilience and builds more self-reliant young people.” Public playgrounds are being designed to present that risk actively. A park in a Boston neighborhood, for example, includes high concrete piers that children walk across to experience moving along uneven surfaces, plus an elevated tree house and a steep, long slide.

Electric Scooters

Electric scooters are popping up in cities across the country. Users pay through an app and do not have to return the scooters to a specific location. Many city dwellers are frustrated that scooters are often abandoned on sidewalks and in doorways. The trend is growing, but so are injuries. Pedestrians injured by scooters on the street are often out of luck because there is no insurance company to fall back on.

Delivery Drivers

Do have coffee or breakfast delivered to your office in the morning? You could be contributing to the plight of delivery drivers. It can be argued that the rising demand for fast and free home and work delivery of retail goods needs monitoring. Purchasers are expecting faster deliveries and more accurate delivery times but are not willing to pay the price, which is bound to impact delivery driving. Probably most relevant to insurance experts is the link between business driving and increased musculoskeletal disorders rates.

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