In an article published by Insurance Business Canada, CNA's Abena Apraku discusses how emerging risks in the specialty space present both challenges and opportunities for insurers.

The COVID-19 pandemic kick-started a period of unprecedented changes and challenges for businesses in all sectors. Throughout this volatile time, CNA Canada has adapted its broad suite of specialty insurance capabilities – which includes management liability, professional services, technology, cyber and healthcare – to meet the unique needs of its commercial clients across the country.

Emerging risks present both challenges and opportunities for insurers. For example, while the COVID-19 pandemic placed immense strain on Canada’s healthcare system, it also triggered a wave of new telemedicine services that required innovate risk control and insurance solutions. In a similar vein, as society became highly dependent upon technology during the pandemic – for the purposes of remote work, remote schooling, e-commerce and digital communication, amongst other functions – this has led to new challenges around cyber security and a surge in demand for cyber insurance solutions.

For more information and personal insights, read the full feature: ‘Specialty Insurance: How CNA Canada Adapted to the Pandemic’s Challenges’ published in Insurance Business Canada.