Luke Holloway reviews the news
This week we spoke to Luke Holloway, Editor of The Journal and Personal Finance Professional to get his take on the past week in insurance news.
What has been the stand-out story for you in the insurance market this week - and why?
Not the most positive story to start with, but the CII published results of an online poll this week which found around six out of ten insurance professionals had suffered depression, anxiety, or emotional distress during the Covid-19 pandemic. A really sobering statistic and a stark reflection on how tough the last year has been for many people across the profession. Let's hope that as we leave winter behind there is some light at the end of the tunnel.
Which news this week do you think will have the most long-term impact on the insurance profession?
Covid-19 goes without saying (even though I’ve said it) but I was very interested to read the Lloyd’s report on its environmental, social and governance plans for 2021.
Seeing that Lloyd’s has set targets for responsible underwriting and investment to help accelerate the move from fossil fuel dependency to renewable energy sources feels like a significant and positive step. And, from January 2022, Lloyd’s managing agents will be asked to no longer provide new insurance coverages for thermal coal-fired power plants, thermal coalmines, oil sands, or new Arctic energy exploration activities. David Attenborough will certainly approve!
Who is your insurance personality of the week and why?
I'll go with our very own CII professional standards director, Melissa Collett, who has overseen a collaboration with Lloyd's to launch a new Chartered Insurance Underwriting Agent title for Lloyd's coverholders – excellent work!
What has been the most interesting/intriguing/surprising item you have seen in the background of any video-based calls so far this year and why?
I love getting a sneaky peek into people’s little worlds! Nearly every podcast I’ve hosted this year has featured either a delivery turning up, a child asking for help with homework, or a random workman in the background! I love that everyone is so used to it now, it doesn’t bother anyone.
And finally: If you could interview anyone from the world of insurance and they had to answer your question 100% truthfully, who would it be and what would you ask them?
I would interview Edward Lloyd and get some coffee house gossip on shipbroking, candle auctions and old London Town. I'd then explain to him that his coffee shop is now a Sainsburys and ask him what he'd like for his meal deal.