Top risk experts gather for Risk, Growth and Resilience Summit

More than 130 Industry experts, risk managers, and community leaders recently came together for an in-depth discussion around risk and resilience at the second annual Growth, Risk and Resilience Summit.

Leaders from Zurich North America, WTW, Resilient Cities Network and Argonne National Laboratory gathered to discuss the biggest challenges facing businesses today. They shared insights on evolving risks and opportunities related to climate, social inflation, AI and more. The discussion focused on actionable strategies to equip leaders with tools to navigate an ever-evolving risk landscape. Katie Rabs, Corporate Insurance & Risk Manager, Solventum and Executive Director, RIMS Chicago, served as a moderator.

Key takeaways from the Summit:

• It’s important to remember that there are opportunities that come along with risk, too, noted Ann Chai, Chief Risk Officer at Zurich North America, pointing in particular to AI. “When approached correctly, there can be great rewards from this new technology that come along with the risks.”
• In an already volatile world, 2025 is shaping up to be a particularly complex year, said John Breman, Head of Innovation at WTW. Significant ideological regime changes have recently taken place in many countries, he noted. Geopolitical and technology-related risks–chiefly around AI–are the primary areas of risk concern in the year ahead, followed by climate and economics.
• When it comes to natural disasters, businesses prepared with response and recovery plans will most likely experience fewer business interruptions, said Aroo Sivasubramaniam, Head of Zurich Resilience Solutions for North America, “with the added advantage of gaining a competitive edge over competitors facing longer recovery times.”
• Adding to insights regarding disaster preparedness and response, Henry Daar, Executive Vice President, Head of Property Claims US at WTW, said that having proper data about property values and the cost of business interruptions is essential for fast recovery. “A master service agreement with companies that can assist you when bad things happen is essential,” he said. “You want to be first in line.”
• Flooding, heat waves and underlying stresses like affordability and infrastructure are the top risks identified by the Resilient Cities Network in their work to help cities around the world build climate resiliency, said Lauren Sorkin, co-founder and executive director, Resilient Cities Network.
• Legal system abuse—and the associated oversized financial jury awards—is a key driver for social inflation, defined as the disproportionate increase in loss costs compared to economic inflation. For example, commercial auto incurred losses increased 261%¹ in 14 years versus 40% economic inflation in the same time period. Allen Kirsh, SVP, Head of Claims Judicial and Legislative Affairs for Zurich North America, said the insurance industry is working to interrupt the cycle through public education, legislative advocacy and industry collaboration to address the root causes of legal system abuse.
• AI’s ability to process enormous amounts of data quickly has the potential to transform the way we look at risk management and climate change modeling, said Troy Arcomano, Research Scientist at Argonne National Laboratory. He also emphasized the importance of using AI responsibly and addressing potential risks like misinterpretation of data and cybersecurity threats.

Mark your calendars for the third annual Risk, Growth and Resilience Summit, scheduled for March 2026, when we will again gather top risk experts to discuss issues important to Chicago’s business leaders.

¹APCIA via BLS Federal Reserve Economic Data and S&P Global Market Intelligence