Takeaways from the AIRMIC Conference

Richard Spink, Head of International Environmental Liability, provided his insights from the recent AIRMIC Conference in Edinburgh: 

Aspen Environmental underwriters spent a busy three days at the AIRMIC, meeting with dozens of our trading partners, clients, and other insurers. The depth of the conversation from AIRMIC members proved to be insightful and we came away more energized about the role environmental insurance has to risk managers and large insurance programs.  

The core takeaways from the few days speaking to brokers and trading partners were: 

• Emerging chemical risks – organizations are being exposed to emerging chemical risks, there’s a need for increased analysis in the supply chain in offer to mitigate environmental exposures to ensure there is appropriate environmental insurance coverage.   

• ESG and Sustainability – continue to be high on the risk agenda with a demand for creative solutions for both environmental and climate risks. 

• Global exposures, local insurance compliance, and regulatory changes – discussions have highlighted how utilizing the Lloyd’s platform can assist in:

– Helping risk managers ensure their insurance programs meet global compliance through our central underwriting expertise combined with locally admitted paper. 

– Providing key broker partners with enhanced environmental coverage capabilities for SME and mid-corporate clients. 

In the environmental sector, it’s evident that there is a considerable influx of new capacity. With shifting landscapes and regulatory pressures, brokers require long-term partners with the experience and stability to creatively manage the growing risks. 

Find out more about Aspen’s Environmental offering.