In recent years, civil unrest has become a prevalent issue globally, leading to significant economic and social implications. This trend has not gone unnoticed by the insurance industry, where claims related to strikes, riots, and civil commotion (SRCC) are on the rise, posing a new challenge for insurers.
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According to a recent article by Insurance Journal, the surge in civil unrest has transformed a once negligible insurance risk into a substantial source of losses for the industry. Claims associated with SRCC events are now emerging as a growing headache for insurers, highlighting the need for a reevaluation of risk management strategies in the face of escalating societal tensions.
Specialty Program Group LLC (SPG), a key player in the insurance distribution and underwriting sector, recently made a strategic move to address these evolving risks. The acquisition of Logistiq Insurance Solutions and its subsequent integration with Anova Marine Insurance, another firm under SPG’s umbrella, demonstrates a proactive approach to adapting to the changing landscape of insurance risks.
The integration of Logistiq Insurance Solutions with Anova Marine Insurance will likely enhance SPG’s capabilities in managing complex risks associated with civil unrest and other emerging threats. By consolidating expertise and resources, SPG aims to provide more comprehensive coverage and tailored solutions to clients facing increasing uncertainty in today’s volatile environment.
Experts in the insurance industry emphasize the importance of staying ahead of evolving risks and continuously reassessing insurance coverage to address emerging threats effectively. As civil unrest continues to escalate worldwide, insurers must remain vigilant and agile in their risk management practices to protect their clients and maintain financial stability.
The growing impact of civil unrest on the insurance industry underscores the interconnected nature of global events and financial markets. As insurers navigate these challenges, they play a crucial role in supporting businesses and individuals in mitigating risks and safeguarding against unforeseen disruptions.
In conclusion, the surge in civil unrest globally has significant implications for the insurance industry, prompting insurers to reevaluate their risk management strategies and enhance their capabilities to address emerging threats effectively. By proactively adapting to evolving risks, insurers can better protect their clients and contribute to greater resilience in the face of uncertainty.
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References:
– Insurance Journal. (2026, February 17). World’s Growing Civil Unrest Has an Insurance Sting. [https://www.insurancejournal.com/news/national/2026/02/17/858246.htm]
– Claims Journal. (2026, February 18). Growing Civil Unrest Claims Has an Insurance Sting. [https://www.claimsjournal.com/news/national/2026/02/18/335745.htm]
– Insurance Journal. (2026, February 18). Specialty Program Group Integrates Anova Marine and Logistiq Insurance Solutions. [https://www.insurancejournal.com/news/midwest/2026/02/18/858528.htm]
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