Tread Carefully with Biosynth Technology, Warns Lloyd’s Report

A new report from Lloyd’s warns that, although “synthetic biology has been hailed as a potential solution to looming global threats,” it requires careful handling. “Governments and interest groups should work together to support the responsible development of this exciting, but controversial, new technology,” says a new study published by Lloyd’s.

The study – Synthetic Biology Influencing Development – is available on the Lloyd’s web site at: http://www.lloyds.com/NR/rdonlyres/7AE3E96F-CE13-49C8-B55D-4AA18791C4B3/0/SyntheticBiology_InfluenceTheDebate_July2009_V1.pdf.

Synthetic biology produces new organisms and systems that do not occur naturally and creates the opportunity to effectively “redesign life.” It is a leap forward from genetic engineering in that it doesn’t use existing DNA from two organisms to create a hybrid organism—it builds up a new organism from scratch.

“Although the technology is still in its infancy, the first examples of fully commercialized synthetic biology could be in full production within the next ten years,” according to Lloyd’s study.

“It could play a major part in addressing the increasing shortages of energy, food and water caused by our overstretched planet entering into the grip of climate change, proponents argue.”

As examples the report points out that “synthetic biology may allow plants to be modified to make them resistant to disease and hardier to heat and drought; it could adapt bacteria to produce vaccines against major diseases or to help create biofuels on an industrial scale.”

However, there are concerns with the technology, indicated Trevor Maynard of the Emerging Risks team at Lloyd’s and a contributor to the report. “Its ease-of-use invokes fears in some that terrorists will find it possible to develop ‘bioterror’ weapons,” he stated, “so the approach to regulation differs around the world, as does public opinion. And scientists can’t predict how new life forms will affect delicate ecosystems or human health.”

Lloyd’s also raises fears not only of “an increased risk of ‘bioterror’, but also of ‘bio-error’: the accidental release of synthetically engineered organisms, which could wreak havoc along the lines of the unintended release of foot and mouth virus from the Pirbright laboratory in the UK in 2007.”

For insurers, the potential liabilities if anything goes wrong could be catastrophic; they need to consider whether they wish to be exposed to such huge risks, says the report. “This suggests a need to tread very carefully. Like insurers, companies engaged in such development should consider high impact and low probability events in their risk assessments,” Maynard observed.

Source: Lloyd’s of London – www.lloyds.com

Topics Excess Surplus Tech Lloyd's