Product recall notices now seem like a weekly occurrence, doubtless driven by fears of consumers keen to exercise their rights. At the same time, groups of angry investors calling for management heads are becoming commonplace, fuelled by continuing stock market uncertainty.
Add to this growing worries about environmental risks, including climate change, which are increasingly seen as potential causes of claims and growing concern that a US-style compensation culture is spreading to Europe and the UK.
Faced with these trends, are boards doing enough to discuss their liability risks and to embed risk management processes to cope? For our part, Lloyd’s remains equipped and ready to help companies to take on and manage the changing risks.
