Description: With many companies predicting what may happen, it will be interesting to see what changes the Chancellor actually makes in the upcoming Spring Budget. In the meantime, the Regulators have been busy across the board with the FCA publishing their Discussion Paper on the Advice Guidance Boundary Review and TPR’s strategic shift in oversight of workplace pensions. Our lead story examines volcanic risk from WTW’s James Dalziel, Head of Earth Risks Research and Gordon Woo, Catastrophist from Moody’s RMS as they ask should insurers turn to downward counterfactual analysis. Mark Mullaney from Beagle Street provides an insight into how we calculate the financial impact of a premature death on a family. We also have Piotr Piekos, from Future Processing, providing an article on reimagining the customer experience with the help of technology to improve customer journeys. I would also like to take this opportunity to thank Fiona Tait from Intelligent Pensions for all the many insightful articles she has provided us down the years as she has decided to step back from writing. Many thanks Fiona.