More insurers take action on coal and climate change

More insurers take action on coal and climate change

More insurers take action on coal and climate change

Insurance companies have pulled $20bn out of investments in coal and a growing number are refusing to underwrite new coal projects, according to a scorecard on the industry from the Unfriend Coal campaign. Zurich announced this week that it will divest from and cease offering insurance to companies that depend on coal for more than 50% of their business. The…

Willis Towers Watson calls end of soft market in US

Willis Towers Watson calls end of soft market in US

Willis Towers Watson calls end of soft market in US

Rate increases are on the cards for US commercial insurance buyers in 2018, as a direct result of the recent spate of costly hurricanes. Although market reaction to windstorms Harvey, Irma and Maria is still evolving in the run-up to the 1 January renewals, it is likely that the hit to insurers’ earnings will put underwriters under pressure to raise…

Beazley launches Spanish operation

Beazley launches Spanish operation

Beazley launches Spanish operation

London-based international specialty insurer Beazley formally launches its Spanish operation at a reception in Madrid this evening, where brokers and customers can learn about its expanding offering for the Spanish market. Beazley’s Spanish operation is based in Barcelona and is led by Lorena Segovia, who was hired in May from HCC Global to the newly-created role of financial lines regional…

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…

AXA Corporations Solutions warns of environmental risks under new French laws

AXA Corporations Solutions warns of environmental risks under new French laws

AXA Corporations Solutions warns of environmental risks under new French laws

AXA Corporate Solutions has warned large corporates operating in France about the risks of failing to meet new environmental laws. The insurers said that a new biodiversity law, which has been in force since August last year, introduced the concept of ecological damage to the French Civil Code alongside environmental regulations under the EU. AXA Corporate Solutions said it has…

BIBA launches pollution product for environmental contractors

BIBA launches pollution product for environmental contractors

BIBA launches pollution product for environmental contractors

The British Insurance Brokers’ Association (BIBA) has launched an insurance package for environmental contractors in the UK. The scheme is arranged by Direct Insurance London Market, itself a BIBA member. The new scheme provides a range of covers all under one product. It is suitable for businesses operating across the waste and recycling industries and includes: multiple classes of coverage…

Study proves link between nanoparticles and heart disease

Study proves link between nanoparticles and heart disease

Study proves link between nanoparticles and heart disease

New research into the health impact of nanoparticles finds that inhaled nanoparticles can enter the bloodstream and put healthy people at risk of stroke and heart disease. Part funded by the British Heart Foundation and conducted by a team of scientists from the UK and the Netherlands, the research supports previous studies that have found links between cardiovascular disease and…

Ferma urges EU against compulsory cover for ELD risk

Ferma urges EU against compulsory cover for ELD risk

Ferma urges EU against compulsory cover for ELD risk

Ferma told the EU parliament this week that it remains against the introduction of compulsory financial security for ELD risks because it believes such a system would reduce prevention measures and be extremely difficult to administer. The federation of European risk management associations also took the opportunity to back the EU’s new Multi-Annual Work Programme (MAWP) 2017-2020 that was published…

Advertorial: We need to listen to the fish

Advertorial: We need to listen to the fish

Advertorial: We need to listen to the fish

Are fish trying to tell us something important about climate change? We believe they are and we need to listen. Fish are a key indicator of change in the ocean. Observing their behaviour patterns can help us to better understand the risks that climate change poses to societies and businesses. Studying the effects of climate change on oceans, and their…

Lloyd’s continues expansion but must watch combined ratios and reserves

Lloyd’s continues expansion but must watch combined ratios and reserves

Lloyd’s continues expansion but must watch combined ratios and reserves

If the Lloyd’s insurance market is a decent yardstick for the state of the international commercial and specialty insurance and reinsurance market, then its recently published annual results suggest that risk and insurance managers worldwide need to brace themselves for tougher renewals in future. The market revealed numbers last week that showed a big jump in gross premiums written, up…

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