Smoking has long posed a significant risk for insurers, and now the rise in vaping, particularly among young adults, is giving cause for concern, as we found out from Zurich’s chief underwriter Nicky Bray.
It took decades for insurers to fully recognise smoking as a major health risk, but now vaping is starting to demand attention from underwriters.
“Do we wait that long, or do we start assessing the potential risks now? Underwriting is about predicting what will happen 20 to 40 years down the line.”