ALM Intelligence and Husch Blackwell surveyed legal department leadership across every segment of the insurance sector – health, property, liability and auto; life and annuity products; cyber, environmental and marine; as well as surplus lines and run off portfolio — to assess the issues that are keeping in-house lawyers up at night. This report outlines what lawyers in the Insurance sector are thinking, their most significant concerns and how they mitigate the associated risks.
Key findings include:
- Roughly seven out of 10 respondents reported that their legal departments need at least some outside help to properly manage issues related to data security and privacy.
- The complexity and range of new regulations across multiple jurisdictions make maintaining compliance complicated and costly.
- Nearly 70% of respondents expressed at least some interest in the regulatory changes brought about by the legalization of marijuana.