London attack to spark further demand for widening terror cover

London attack to spark further demand for widening terror cover

London attack to spark further demand for widening terror cover

Insured losses from the horrific terror attack on central London this week will be small, but the attack is likely to spark a rise in demand for specialist terror and political violence cover, with business interruption (BI) protection top of the list. Tim Davies, co-head of sabotage and terrorism at Lloyd’s insurer Sompo Canopius, told Commercial Risk Europe that sadly this…

Munich Re eyes growth – and threats – in cyber space

Munich Re eyes growth – and threats – in cyber space

Munich Re eyes growth – and threats – in cyber space

Munich Re backpedalled a little on its corporate specialty business last year, but still wants to grow its portfolio in the longer term, especially in cyber space, according to comments made in the global reinsurer’s earnings call with analysts. Board member Torsten Jeworrek told analysts that the €4.8bn premium share from its risk solutions segment was down from €5bn. The…

Parima signs three more partners

Parima signs three more partners

Parima signs three more partners

The Pan-Asia Risk and Insurance Management Association (Parima) has recruited a further three additions to its roster of corporate partners.   Singapore-based disaster recovery specialist Belfor Asia, US-based insurer Liberty International Underwriters (LIU) and the Labuan International Business and Financial Centre (Labuan IBFC) join 23 other companies in what the association says is a mission to “create opportunities for education and…

More progress needed on business interruption coverage

More progress needed on business interruption coverage

More progress needed on business interruption coverage

Progress has been made on business interruption policies in recent years but there remains a long way to go to sort some of the problems that have caused buyers angst, according to experts participating in a roundtable organised by law firm Sedgwick. Calculating sums insured and the claims process remain problematic for many risk managers, while some wordings – particularly…

Progress on CBI but more work needed

Progress on CBI but more work needed

Progress on CBI but more work needed

Contingent business interruption (CBI) insurance has evolved during the past couple of years and insurers are extending coverage to new kinds of risks that can affect companies’ supply chains without causing physical damage, risk managers were told during the 25th Rencontres AMRAE in Deauville, France. However, the costs and scope of coverages remain an issue for buyers as more comprehensive…

Business interruption tops Allianz risk poll in Asia

Business interruption tops Allianz risk poll in Asia

Business interruption tops Allianz risk poll in Asia

The threat of business interruption is the main concern for Asian businesses according to a global survey of more than 1,200 risk experts conducted by insurer Allianz. The Allianz Risk Barometer lists the top three risks facing Asian corporates as business interruption, market developments and natural catastrophes – the same top three risks that featured in the 2016 survey, albeit…

Is insuring loss of power in Africa viable?

Is insuring loss of power in Africa viable?

Is insuring loss of power in Africa viable?

Estimates suggest that of the 1.2 billion people in the world who do not have access to electricity, half live in Africa. One way forward to solve Africa’s power supply problem is to give people access to electricity through the development of off-grid and ‘mini-grid’ solutions. However, this technology remains nascent and there are a number of barriers to widespread uptake.

French firms continue to enjoy soft market but insurers becoming hyper selective: AMRAE

French firms continue to enjoy soft market but insurers becoming hyper selective: AMRAE

French firms continue to enjoy soft market but insurers becoming hyper selective: AMRAE

French companies still benefit from a soft insurance market and growing risk transfer options, but favourable coverages could become harder to find in some lines for those that do not have a solid risk management structure in place, according to the country’s risk management association AMRAE.

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