The Insurer recently covered Aon CEO Greg Case’s appearance at the S&P Global Ratings annual conference, where Case noted that risk placement as a percentage of U.S. gross domestic product (GDP) has decreased for the past 30 years. He said this is because the industry has not done enough to meet clients’ needs to address risks such as intellectual property, cyber and climate.

“Cyber is a $7 billion, $8 billion premium program now across our industry,” Case said. “When our clients are facing upwards of $600 billion in potential connected loss, we are not doing enough. Fundamentally, we are becoming less relevant in the context of client need, which continues to go up.”

Read the full article in The Insurer here.