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Defamation: Key risks brokers should watch for

Content featuring real names, likenesses, or personal opinions can create legal exposure. Brokers play a critical role in risk assessment. According to Wood: “When brokers are evaluating and mitigating potential liability risks related to the use of real names, likenesses, or personal opinions in content, they should thoroughly assess several factors. First and foremost, the content itself must be scrutinised to determine if there is a potential for defamatory issues to arise.”

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From intuition to data-driven brokering

Brokers are under pressure to deliver faster, tailored solutions, and AI could assist underwriting. Simon Hughes, SVP, global distribution & general manager UK at Cowbell, explained: “So the key thing is being able to use the data and make it intelligible. We gather about 1,000 different data points in every single business that we underwrite… AI tools allow us to get that data, put the answer in a tangible format, and use it to the benefit of our underwriting capability.”

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“We looked at 14 pools, different pools around the world, [and] most of these pools do not bring focus to the importance of resilience,” said Golnaraghi. “In fact, most of them, because of solidarity based principles, allow people to live in high-risk zones.”

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Undoubtedly, GenAI can give a competitive edge, by speeding up operations for instance. But this fast-evolving technology poses new risks to data privacy, intellectual property or sound decision making. While businesses are increasingly looking to engage with the new opportunities that AI offers, many are simultaneously grappling to understand and manage the full risk landscape that it operates within.

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“Human-centric leaders are inclusive, empathetic, and driven by a purpose beyond profit, and offer their employees flexibility and an environment of psychological safety where their health and wellbeing are respected so they can perform at their best,” the report said.

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The process follows a period of improved financial and operational performance at the AA, which serves more than 16 million customers, including 3.3 million individual members. Alongside roadside assistance, the AA operates in other sectors such as vehicle and home insurance, and driving instruction services through AA Driving School and BSM.

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According to Stait, long-term value should drive the entire relationship – not just the renewal. “Value is added throughout the life cycle of the project, throughout the year, so claims, reviews, client meetings, all of that stuff, that’s absolutely key. And really the renewal should kind of follow that, rather than being the thing that drives the activity.”

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Adam Atkins (pictured), head of technology underwriting at Hiscox UK, pointed to artificial intelligence (AI) as the key technology reshaping the landscape. “In January, the government launched the AI action plan, where they made it really clear that AI is going to be the way forward for the UK… I think that’s going to shape the technology sector, but much wider as well, because there’s going to be far more businesses now wanting the investment so that they can build AI, they can use AI, they can advise on AI,” he said.

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Despite the overall decline, motor and transport insurance remained the most complained-about product category, with 276,794 complaints in H1 2024. Medical and health insurance complaints, however, rose by 12.4% in the same period, reaching 95,886 cases.

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The lawsuit brought to light a series of embarrassing exchanges between executives at Marsh where they discussed the escalating financial crisis engulfing Greensill and its main insurer, Australia’s Bond & Credit Co, in the run-up to Greensill’s collapse. 
 
In an email exchange from 2020 that was shared with the court, a Marsh executive described the situation surrounding Greensill’s insurance contracts as “a frightening absence of corporate governance: this is fraud which may well be in breach of the Australian legal code as it applies to insurance companies”. 

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