The busiest of years for Airmic chair

The busiest of years for Airmic chair

The busiest of years for Airmic chair

As the outgoing chair of airmic, Clive Clarke has had a somewhat busy year as the risk landscape changed apace. The UK voted to leave the EU only two weeks after he took the seat at Airmic, and just months later Donald Trump was elected US President. Geopolitical risks have also included terrorist attacks on several European cities, including London…

Eurozone boosts global growth forecasts: Fitch

Eurozone boosts global growth forecasts: Fitch

Eurozone boosts global growth forecasts: Fitch

Fitch Ratings predicts that global growth will soon reach its highest level since 2010. In its latest Global Economic Outlook, Fitch forecasts growth of 2.9% in 2017, rising to an eight-year peak of 3.1% in 2018. Fitch said the eurozone, where growth expected to improve to 2%, has caused the most significant uptick in its forecast. “Stronger incoming data, improving…

HDI Global opens Bern office

HDI Global opens Bern office

HDI Global opens Bern office

HDI Global has opened a third branch office in Switzerland. The industrial insurance company said its new Bern office is part of plans for international growth targeting key business regions. Hans Mazenauer, manager of HDI Global SE’s Swiss branch office, said: “Bern is Federal City and also the centre of one of Switzerland’s most important economic regions. In future, this…

Common law liabilities for pollution in the UK

Common law liabilities for pollution in the UK

Common law liabilities for pollution in the UK

Anyone familiar with environmental liability will understand how heavily laden the subject is with regulation. Amid the excitement of the UK’s Environmental Protection Act and EU Environmental Liability Directive, it is too easy to neglect the study of a landowner’s duties at common law. Such duties may arise in negligence, for breach of statutory duty, in nuisance or under the…

Wallin identifies protectionism as biggest risk for reinsurance sector

Wallin identifies protectionism as biggest risk for reinsurance sector

Wallin identifies protectionism as biggest risk for reinsurance sector

Ulrich Wallin, CEO of Hannover Re, the world’s third largest reinsurance group, believes the rise of protectionism and pressure on cross-border trade are the biggest threats currently facing the international insurance and reinsurance industry. Hannover Re recently published a healthy set of annual numbers, with net profits up on the back of an impressive combined ratio of 93.7%. But the…

Liability cat models could reduce exclusions

Liability cat models could reduce exclusions

Liability cat models could reduce exclusions

The development of forward-looking liability models should result in broader cover with fewer exclusions, according to cat modelling firm Praedicat. Robert Reville, CEO of Praedicat, said disruptive technology is emerging with increasing frequency. Innovative new products, materials or medicine come with inherent risk, and the full consequences of that innovation are not always known during a product’s life cycle, he…

Terror and cyber attacks boost demand for crisis cover

Terror and cyber attacks boost demand for crisis cover

Terror and cyber attacks boost demand for crisis cover

Insurance buyers are increasingly turning to crisis management solutions from insurers as they seek to manage fast-evolving security and cyber threats, according to Arthur J Gallagher (AJG). The past two years have seen a number of attacks in Europe and elsewhere in which terrorists used vehicles, knives, guns and explosives, often acting as lone wolves or in marauding attacks, to…

Fool for five minutes, or forever?

Fool for five minutes, or forever?

Fool for five minutes, or forever?

The inability to deliver a product or service to the customer as promised and agreed is the biggest risk that faces nearly all businesses. This is arguably supply chain risk in its purest form. This risk has changed immeasurably in recent times as the nature of the global economy has transformed towards less tangible services and risks. Tangible supply chain…

Hannover Re focuses on ‘careful growth’ and sensible reserving as soft market continues

Hannover Re focuses on ‘careful growth’ and sensible reserving as soft market continues

Hannover Re focuses on ‘careful growth’ and sensible reserving as soft market continues

Commercial Risk Europe’s Adrian Ladbury interviews Ulrich Wallin, CEO of Hannover Re, to discuss the broad range of issues currently affecting the international reinsurance market and broader risk transfer sector. He finds Mr Wallin in cautiously optimistic mood, despite the pressure being applied to the whole sector by the stubborn soft market and dwindling reserves. Mr Wallin is, however, concerned…

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

First introduced in 2009, bitcoin has had a turbulent history that shows little sign of settling down. In spite of the drama that surrounds it, the cryptocurrency remains a topic for serious discussion. Graham Hawkins, XL Catlin’s head of fine art and specie, describes the unique characteristics of this “borderless currency”, and considers its viability for mainstream use. Aristotle was…

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