The topic of SOIs was brought to the fore once again when Libyan asylum-seeker Khairi Saadallah killed 3 civilians and injured a further 3 in a bladed weapon attack in Reading in June.

The proportion of small business leaders that cite barriers to growth has jumped from 75% to 91% in the last six months, according to a study released today by YouGov and Hitachi Capital Business Finance ahead of Chancellor Rishi Sunak's economic statement. This correlates to the sharp fall in the percentage of small businesses that predict growth (falling from 39% to 14% in the last three months).

Flood Re is pushing for a ‘build back better’ approach after reporting gross claims costs of £160m for 2019/20. The payouts for 2019/20 are ten times higher than the previous year.

It is three weeks since the UK Government announced quarantine measures, but promised to look into the viability of international "travel corridors" with countries with low rates of infection, and with which quarantine rules may be relaxed.

There has long been a tension between the local and the global within multinational firms; and in recent years the latest front in this war within insurance has seen the development of more multinational policies. Driven by the desire of large global clients to buy insurance on a single global basis, this approach delivers great benefits to clients and insurers, but also requires significant global claims handling scale.

The cost of a third-party risk incident is thought to have risen to as much as £783m per incident, according to figures released today by Deloitte, which says the impact on share price could be as much as 10%. More than half of companies in the study estimate the cost of a supply chain failure, data privacy breach or disruption to IT services to be somewhere between £391m and £783m, or even more. This represents a marked increase since 2015, when large multinational businesses estimated the cost of a third party failure at between £1.6m and £40m.