This week on Rubbish Talk, Alasdair is joined by Henrik Webster, CEO of Aspect Labs Ltd, to explore the often-overlooked relationship between the waste sector and insurance — particularly the growing challenges around fires, lithium-ion batteries, and risk management. Henrik shares his journey into insurance, starting in reinsurance back in 2013 before moving into the recycling insurance space. After seeing the challenges operators were facing firsthand, he co-founded his own Managing General Agent (MGA), eventually launching Aspect Labs in 2023. Today, the business specialises in property insurance for higher-risk sectors, including waste and recycling, while also developing its own technology and surveying services. A major focus of the conversation is how the waste sector has changed over the last decade — particularly with the rise of lithium-ion battery fires. Henrik explains how insurers increasingly pulled away from the recycling sector as claims and losses mounted, resulting in fewer providers, rising premiums, and stricter conditions for operators. While he acknowledges the insurance industry hasn’t always handled these changes well, he also highlights the scale of the challenge, with waste fires now seen as a major and ongoing risk. The discussion dives into the realities of insurance policies and why operators should pay closer attention to what they’re actually covered for. Henrik stresses the importance of reading policy wording carefully, understanding exclusions, and engaging with insurers earlier in the renewal process — rather than leaving it until the last minute. He explains that many policies are still based heavily on statistics and assumptions, but building relationships and allowing insurers to properly understand a site can help create more tailored and practical solutions. AI and technology are another big theme throughout the episode. Henrik believes that while regulation and public awareness are important, technology may ultimately provide the biggest breakthroughs in reducing fires — from AI systems capable of detecting lithium-ion batteries and off-gassing, to smarter risk management and monitoring tools. Aspect is already investing heavily in this area, both internally and through its own technology company. The conversation also explores wider business lessons, with Henrik reflecting on entrepreneurship, long-term thinking, and managing “existential risks” — major events like catastrophic fires that could shut down a business entirely. He also discusses emerging challenges for the sector, including solar panels on waste facility roofs, increasingly complex waste streams, and how modern legislation has transformed waste management into a far more technical and higher-risk industry. Towards the end of the episode, Henrik encourages younger people entering either insurance or waste to focus on relationships, communication and understanding the bigger picture. As AI automates more routine work, he believes the ability to collaborate, build trust, and solve problems across industries will become even more valuable. A fascinating episode that offers a rare insight into the insurance side of the waste industry — and highlights just how connected risk, regulation, technology and operations have become in the modern waste sector. Useful Links: Aspect Labs Ltd Website Henrik Webster LinkedIn
