Increase over next decade to be driven by greater perception of risks such as bank failures, says John Neal

Lloyd’s of London boss says insurance spending set to double

Global insurance spending is likely to double in the next decade, driven by a greater perception of risks such as banking failures and climate change, the chief executive of Lloyd’s of London has said. 
John Neal told the Financial Times that “financial risk”, following bank failures in the US and Europe as well as systemic threats such as pandemics and climate change, would fuel demand for cover.
This story originally appeared on: Financial Times - Author:Ian Smith