BFFF Health & Safety Seminar Risk Management: An Insurer’s View JLT Specialty Ltd - Food & Agri Practice
MONTH 20XX
About JLT Group
2
What we do
3
Opportunities in the Food & Agri sector
Market Appetite • • • • • •
978 General Insurers in the UK £46.8 billion in Premium Claims Paid of £30.6 billion Profit - £760 million Margin -1.62% Number of cross class UK food insurers? – Around 15
4
Capital Allocation – Why Food? • • • • • •
Relatively high premiums Good recent loss ratio Focus on risk management Increasing H&S culture Limited competition Improved actuarial modelling
5
H&S Impact • • • • • •
Keep insurer/broker updated All underwriters are different Risk Management vs Inherent Hazards Meet with underwriters Demand insurer support Its not all about claims!
8
Questions
9
