Mia Wallace reviews the news

This week we spoke to Insurance Business’ UK News Editor, Mia Wallace to get her take on the past week in insurance news.

What has been the stand-out story for you in insurance this week - and why?

It’s a testament to the insurance sector that I cannot think of a single week when it would not be difficult to choose just one story to highlight. However, the results from the World Economic Forum’s ‘Regional Risks for Doing Business 2020’ survey (produced in partnership with Zurich and Marsh) made for a sobering read this week. How these risks have shifted since last year has really brought home to me how the top concerns facing businesses of every shape and size have been so seismically changed by the COVID crisis.

Which news this week do you think will have the most long-term impact on the insurance industry?

Without a doubt, the FCA’s business interruption test case has been the most striking news story I’ve had the opportunity to cover since joining the sector;  the news that several involved parties are now entitled to apply to the Supreme Court for permission to appeal the ruling is incredibly significant. This case has such  long-term ramifications for the insurance industry’s operational resilience and its international reputation that every update forms another piece of the puzzle as to how the industry will look when the pandemic has (finally) subsided.

Who is your insurance personality of the week and why?

My insurance personality of the week would have to be Claire Russell, one of the founders of Mental Health in Business. Claire recently joined my managing editor, the inimitable Paul Lucas, for an IB Talk podcast discussing mental health challenges in the insurance industry. I could write you an essay on why everybody should listen to her incredible story but, suffice it to say, this is a genuinely powerful talk and shines a real spotlight on this crucial topic. 

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?

There has been little to recommend the lockdown but one positive has been the sheer variety of pets I’ve had the pleasure of being introduced to, and interrupted by, while remote working. I must give a special shout out to a golden spaniel called Jim whose vocal and cogent analysis on a variety of topics has been very appreciated.

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?

That is a great question. I recently had a lovely chat with Dawnmarie Black from Lloyd’s who introduced me to the power of asking “What are you reading right now?”. When answered honestly this question leads to some wonderful discussions. At the very top of my list of targets is Amanda Blanc though, honestly, I would be amazed if she has the time to read while driving her fantastic strategy at Aviva!