The ghost of Spitzer walks again?

The ghost of Spitzer walks again?

The ghost of Spitzer walks again?

News broke in recent weeks that the UK’s Financial Conduct Authority (FCA) has opened an inquiry into the wholesale insurance broking sector, to make sure that it fosters innovation and competition in the interests of consumers. It appears that the focus of this inquiry will be on broker facilities. At the end of October, the European Commission (EC) also confirmed…

Collaboration key to supply chain risk management

Collaboration key to supply chain risk management

Collaboration key to supply chain risk management

Supply chain risk is clearly a critical area for all companies that operate in today’s highly competitive, fast-changing and global market. The huge interest shown in Commercial Risk Europe’s supply chain conference in London on 12 December proves how important this topic has become and how keen risk managers are to learn how to more effectively identify, measure, manage and…

Risk managers warned to expect disruption in specialty lines

Risk managers warned to expect disruption in specialty lines

Risk managers warned to expect disruption in specialty lines

European risk managers do not need to brace themselves for a dramatic overall market hardening during 1 January renewals as a result of the recent slew of hurricanes, according to Jeff Moghrabi, division president, continental Europe at Chubb. But the insurer warned that Chubb expects rates to firm for catastrophe-exposed risks. The recent natural catastrophes will inevitably put further pressure…

Tax rules have broad implications for global insurance programmes

Tax rules have broad implications for global insurance programmes

Tax rules have broad implications for global insurance programmes

The Criminal Finances Act 2017, which came into effect in the UK at the end of September this year, introduces a new corporate offence of failing to prevent the facilitation of tax evasion by an ‘associated person’, either in the UK or abroad. Andrew Gitsham, global head of international product underwriting, Zurich Commercial Insurance, explains why companies with global insurance…

Future looking good for global programmes

Future looking good for global programmes

Future looking good for global programmes

Is there an increased demand for global solutions from continental European organisations with global insurance programmes? Or are companies sticking with local programmes/covers? Absolutely, we still see a move towards global programmes. The number of underlyers that we issue that are part of global programmes has increased year on year for as long as I can remember (5% last year).…

Building a better trigger…

Building a better trigger…

Building a better trigger…

Parametric insurance products are increasingly being used as an alternative to traditional insurance to address the “protection gap” and increase the speed of insurance payments, particularly in the face of natural catastrophes. Advances in modelling of parametric insurance triggers have the potential to decrease the basis risk of parametric products, and make them more attractive to both insurers and their…

Cyber risk management needs to be a ‘shared task’

Cyber risk management needs to be a ‘shared task’

Cyber risk management needs to be a ‘shared task’

Cybersecurity needs to be an enterprise-wide responsibility and not handed over to a single individual or department, according to Paolo Volpi, casualty and special lines director at European Risk Frontiers sponsor HDI Global in Italy. Mr Volpi said that in Italy cyber is still too often the sole responsibility of IT. But, in his view, the responsibility for cyber risk…

Cyber coming of age in Italy

Cyber coming of age in Italy

Cyber coming of age in Italy

Awareness about the serious threat of cyber risk is definitely on the rise in Italy after a slow start compared to other countries, partly helped by coverage in the mass media, according to Andrea Di Giacomo, CEO of De Besi – Di Giacomo, the Rome-based member of Worldwide Broker Network (WBN), sponsor of European Risk Frontiers. Mr Di Giacomo said…

Time will tell on cyber

Time will tell on cyber

Time will tell on cyber

ADD is the Belgian representative of European Risk Frontiers sponsor Worldwide Broker Network (WBN). Commercial Risk Europe editor Adrian Ladbury asked Door Cooreman, account manager – cyber specialist and Paul Caekebeke, product manager – cyber specialist at ADD for their perspective on cyber risk. Q: Who do you feel should be responsible for cyber risk within an organisation? A: Each…

Cyber: Risk prevention and management are key

Cyber: Risk prevention and management are key

Cyber: Risk prevention and management are key

For the Belgian leg of this year’s European Risk Frontiers survey, Adrian Ladbury asked sponsor HDI Global’s Belgian cyber and casualty experts – Frank Linguelet, director casualty; Michel Verlinden, underwriter casualty; and Françoise Nyssens, underwriter casualty – for their views on the fast-evolving cyber risk and insurance arena. Q: Who should be responsible for cyber risk within a corporation? How…

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