Global insurance executives selected a wide range of potential loss events—including some surprises—that they see as the most important extreme risks for the insurance industry in the long term, according to a recent Towers Watson survey.

Stephen Lowe, senior consultant, Risk Consulting and Software, Towers Watson, says, "Much as we would have expected pandemics and natural catastrophes to figure prominently in insurers' extreme risk thinking, the high rankings of concerns such as cyber-warfare and a major data compromise in the cloud illustrate how the industry is keeping up to date with risk assessment."

Interestingly, the technology risk was a user-submitted entry rather than a risk seeded by the survey originator.

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