What are some of the key challenges facing the insurance industry?

Are there challenges facing the insurance industry around the world? Six Florida insurance companies have become insolvent last year. This year the number of Californian insurers has reduced from twelve to five (as of writing). In Australia, the federal regulator ASIC is scrutinising the insurance industry and has found it wanting. I summarise the issues and propose an area of focus.

This material has been prepared for entertainment purposes only and should not be considered as any sort of financial/professional advice. I shall not be liable for any losses incurred.