Emerging risk in the UK insurance context encompasses new or evolving exposures such as climate transition risk, supply‑chain fragility, AI liability, geopolitical instability, and shifting litigation behaviour that are not yet fully captured in historic data or traditional models. Risk, underwriting, and strategy teams collaborate to identify and monitor these developments through horizon scanning, scenario analysis, and pilot products, aiming to protect the balance sheet while creating new, relevant propositions for clients in a rapidly changing environment.
