Buyers seek holistic ‘cashflow’ solutions

Buyers seek holistic ‘cashflow’ solutions

Buyers seek holistic ‘cashflow’ solutions

Large corporates are placing more emphasis on protecting cashflow than physical assets and this transition demands more innovative insurance solutions, according to a breakout panel debate at the Ferma Forum in Monte Carlo. Introducing the debate, Chris Lajtha, founder of risk consultancy Adageo, said that commercial insurance addresses just a relatively small percentage of companies’ exposures to volatility and unforeseen…

Insurers urged to take more technical approach to corporate risk

Insurers urged to take more technical approach to corporate risk

Insurers urged to take more technical approach to corporate risk

Italian risk managers agree with the vast majority of their peers across Europe that the prolonged soft commercial and corporate insurance market is good news for insurance buyers. But there is concern that this represents a short-term benefit because such a competitive market does not promote a technical and truly risk-based approach to risk transfer. Italian risk managers would like…

Insurers and government form WEF coalition to tackle tech risks

Insurers and government form WEF coalition to tackle tech risks

Insurers and government form WEF coalition to tackle tech risks

A coalition of the insurance industry, government and technology companies has been formed, led by the World Economic Forum (WEF), to “take charge” of new risks posed by technology. Insurers have warned that large levels of uninsured risk from new innovations, including drones and driverless cars, will impose a heavy cost on society and the global economy. Victoria Shirazi, who…

Alternative capital continues to rise but must align with new risks for future growth

Alternative capital continues to rise but must align with new risks for future growth

Alternative capital continues to rise but must align with new risks for future growth

Alternative capital continues to flow into the reinsurance market, but without innovation it will be hard to deploy, according to participants on an AM Best webinar. In its latest Global Reinsurance Report, AM Best states that alternative capital grew by approximately 10% last year, faster than traditional reinsurance capital but slower than the growth rates seen in recent years. The…

Technology risks require deeper partnership

Technology risks require deeper partnership

Technology risks require deeper partnership

Insurance solutions for emerging technologies will require closer partnerships between those in the risk transfer chain, as well as more information sharing, according to Jason Harris, chief executive, international at XL Catlin. But while new technology will change the risk landscape, it may help to help reduce the cost of insurance and improve service at carriers, he told Commercial Risk…

Cunningham Lindsey adds renewable wind energy team in Netherlands

Cunningham Lindsey adds renewable wind energy team in Netherlands

Cunningham Lindsey adds renewable wind energy team in Netherlands

Loss adjusting firm Cunningham Lindsey has established a new team of renewable wind energy experts in the Netherlands, in response to increased demand. Based at Cunningham Lindsey Nederland (CLN), the three-strong team is Michiel Groote Schaarsberg, a material science and technical loss adjuster; Morten Jensen, a wind power loss adjuster and consultant; and Erik van den Bos, a civil engineering…

PRA warns insurers about cyber risk management drill

PRA warns insurers about cyber risk management drill

PRA warns insurers about cyber risk management drill

Insurers have been urged to keep closer tabs on their cyber risk accumulation by the UK insurance supervisor. The Prudential Regulation Authority (PRA) has published a supervisory statement that sets out its expectations of insurers regarding managing cyber risk, in the context of their obligations under Solvency II. The statement follows a cross-industry review conducted between October 2015 and June…

South Africa prime for renewable energy investment conditions

South Africa prime for renewable energy investment conditions

South Africa prime for renewable energy investment conditions

South Africa has been ranked tenth among G20 countries for renewable energy investment opportunities. According to the Allianz Climate and Energy Monitor 2017, it scored highly for its depth of capital markets, even though a high inflation forecast brought down the overall score. The country has steadily increased its renewables capacity in recent years and has a relatively high presence…

Bond launched as pandemic solution

Bond launched as pandemic solution

Bond launched as pandemic solution

The World Bank, through the International Bank for Reconstruction and Development (IBRD) is launching bonds that ultimately will help finance efforts to stop pandemics. Pandemics are one of the greatest systemic risks facing the world and the bonds will support the Pandemic Emergency Financing Facility (PEF), designed to channel first-response surge funding to developing countries facing the risk of a…

Virgin Media warns customers over router hacking risk

Virgin Media warns customers over router hacking risk

Virgin Media warns customers over router hacking risk

Cable broadband provider Virgin Media has told 800,000 of its customers in the UK to change their passwords to protect against being hacked. The advice came after an investigation by consumer group Which? found that Virgin Media’s Super Hub 2 router can be hacked in a matter of days if it is left with the default password that is printed…

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