Lloyd’s of London on nanotechnology insurance
Nanotechnology is set to bring both problems and benefits to producers and the insurance industry who cover them. In SAFENANO’s February feature article, David Baxter, lead researcher on emerging risks for Lloyd’s of London explains how the insurance industry is tackling such a rapidly growing yet to date relatively unregulated field.
Starting with a brief explanation of how insurance fits into the world of nanotechnology and vice versa, Baxter outlines the theory of transfer of risk and explains how nanotechnology gives the insurer pause for thought. He then discusses how given the scarcity of information insurers may start to manage the risks presented by nanotechnology, the information they require to achieve this and how the insurance industry has worked with researchers, the lawyers and regulatory authorities to exchange and gather expertise on the subject.
Concluding with key questions insurance underwriters are currently considering for the nanotech industry, and including commentary on how the BSI’s recent nanotechnology standard terminology has helped this process, SAFENANO’s latest feature provides an must read insight into how insurance for nano is shaping up.
source: safenano.org