Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Turbulence in political risk – particularly Brexit negotiations, trade protectionism and the North Korea missile crisis – will continue into 2018 and feature high on the agenda of multinationals, Marsh said on publishing its Political Risk Map 2018 with BMI Research. In Europe, the political risk landscape continues to be dominated by the UK’s exit from the European Union and…

Navigators’ post-Brexit strategy takes shape

Navigators’ post-Brexit strategy takes shape

Navigators’ post-Brexit strategy takes shape

To succeed as a global insurer, it is necessary to have underwriters on the ground in local markets, including Europe, according to Navigators Group president and CEO Stan Galanski. In a fourth-quarter earnings call, Mr Galanski said Navigators’ acquisition of Benelux insurers ASCO and BDM last year is part of a strategy to expand the US insurer’s specialty business in…

January storm losses in Europe match annual total for 2017

January storm losses in Europe match annual total for 2017

January storm losses in Europe match annual total for 2017

Insured losses from European windstorms this January, causing an estimated bill of more than $2bn, have already matched total insured windstorm losses in the region for the whole of 2017, according to Aon Benfield’s Impact Forecasting monthly global catastrophe report. Windstorms Friederike, Eleanor and Carmen struck parts of Europe last month. Friederike was the most severe storm, killing at least…

Ferma and CRE launch 2018 Risk Awards

Ferma and CRE launch 2018 Risk Awards

Ferma and CRE launch 2018 Risk Awards

Ferma and Commercial risk Europe are pleased to announce the launch of our European Risk Management Awards programme for 2018, which aims to promote the value and standing of risk management in Europe, culminating in a gala dinner in Brussels this November. This year’s programme will see a new Emerging Risk Initiative of the Year award for risk managers, as…

Cyberattacks disrupt leading Dutch banks

Cyberattacks disrupt leading Dutch banks

Cyberattacks disrupt leading Dutch banks

The three largest Dutch banks have reported several cyberattacks during the weekend and into Monday, which affected online banking services and access to websites, according to local press. ING reported a distributed denial of service (DDoS) attack on Sunday, although services were quickly restored. ING said: “During the DDoS attack, ING’s internet site was blasted with data traffic, causing our…

Dutch government gives notice on earthquake-risk Groningen gas plant

Dutch government gives notice on earthquake-risk Groningen gas plant

Dutch government gives notice on earthquake-risk Groningen gas plant

The Dutch government has written to 200 of the largest companies in the Netherlands to warn them that they have four years to replace the natural gas they use from the Groningen field as production from the site is phased out, according to reports. Dutch broadcaster NOS said companies received a letter from the minister for economic affairs, Eric Wiebes,…

Germany counts cost of Storm Friederike

Germany counts cost of Storm Friederike

Germany counts cost of Storm Friederike

Storm Friederike is estimated to have cost the German insurance market €500m, according to initial estimates by the German Insurance Association (GDV). Last Thursday’s storm saw wind speeds of up to 80mph and caused severe disruption and cancellations to Germany’s rail network. Eight people died in the storm, including two firefighters. Actuarial firm Meyerthole Siems Kohlruss, estimated insured losses in…

Losses from storm Eleanor/Burglind up to €1.6bn: AIR

Losses from storm Eleanor/Burglind up to €1.6bn: AIR

Losses from storm Eleanor/Burglind up to €1.6bn: AIR

Insured losses from winter Storm Eleanor, also known as Storm Burglind, will range between €1.1bn and €1.6bn, according to estimates from catastrophe modelling company AIR Worldwide. The fifth named European storm of the winter season, which struck early this month, began in Ireland and the UK with winds of up to 100 mph. It then headed to mainland Europe, where…

Storm Burglind hits insurers for €300m, say reports

Storm Burglind hits insurers for €300m, say reports

Storm Burglind hits insurers for €300m, say reports

Storm Burglind is estimated to have cost insurers €300m in losses from heavy rain and wind that struck Germany hard this week, Aon Benfield told Reuters. The broker added that more properties are expected to experience flooding in the next few days. Further losses likely to come from damage to homes and properties, with winds of more than 75mph. The…

Munich Re readies GDPR compliance tool as experts warn many firms not ready for new rules

Munich Re readies GDPR compliance tool as experts warn many firms not ready for new rules

Munich Re readies GDPR compliance tool as experts warn many firms not ready for new rules

Help is at hand for businesses struggling to be ready for the EU’s General Data Protection Regulation (GDPR), which comes into force in May 2018. Munich Re is putting the finishing touches to a tool it says will help companies understand how their business stores and uses personal data. Under the GDPR rules, companies that collect personal information must be…

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