Regulatory changes increase UK D&O risk as investigations increase

Regulatory changes increase UK D&O risk as investigations increase

Regulatory changes increase UK D&O risk as investigations increase

A new survey by Willis Towers Watson and Allen & Overy shows that a third of UK companies have undergone a claim or investigation involving one of its senior managers or directors this year, up from 27% in 2016. Willis Towers Watson said additional regulatory scrutiny, corporate governance reform and an extension of the UK regulator’s Senior Managers Regime will…

Price decreases help boost popularity of M&A insurance

Price decreases help boost popularity of M&A insurance

Price decreases help boost popularity of M&A insurance

The market for merger and acquisition (M&A) insurance is soft and “buoyant”, with the first half of 2017 recording price decreases of about 12% year on year and a 76% rise in the number of policies placed to protect insureds from breaches of warranties, according to JLT Specialty. The broker’s Global M&A Insurance Index reveals that significant growth in the…

Chubb promotes Tara Parchment to lead its HNW business in Europe

Chubb promotes Tara Parchment to lead its HNW business in Europe

Chubb promotes Tara Parchment to lead its HNW business in Europe

Chubb has promoted Tara Parchment, vice-president, personal risk services, UK & Ireland, to head its European personal risk services division. Ms Parchment will have responsibility for the performance of the company’s high net worth personal lines business in the UK and continental Europe. Ms Parchment has more than 20 years of insurance industry experience at Chubb, including a spell as…

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

The ongoing escalations between North Korea and the rest of the world took another step when the United Nations (UN) voted to impose further sanctions on the rogue nation after its sixth and largest nuclear test. The measures were voted for unanimously by the 15 states that sit on the UN Security Council (including Russia and China). As a result,…

Insolvencies fall again in CEE region

Insolvencies fall again in CEE region

Insolvencies fall again in CEE region

Companies operating in central and eastern Europe (CEE), or trading with companies in the region, will welcome news that fewer insolvencies were reported in 2016, down 6% last year following a strong 14% reduction in 2015, according to new figures from Coface. However, Coface said there were wide variations across the 14 countries within the region. Eight countries reported decreases…

BMS launches new European venture in Spain

BMS launches new European venture in Spain

BMS launches new European venture in Spain

Independent insurance and reinsurance broker BMS Group has launched a new European venture, BMS Iberia. The new venture will provide BMS with a long-term solution for accessing business in the EU post-Brexit. BMS said the launch of BMS Iberia is consistent with its “global integrated hub-and-spoke strategy” and will complement its existing international operations, focusing at the outset on a…

Ed expands PI and executive risks business with Guernsey license

Ed expands PI and executive risks business with Guernsey license

Ed expands PI and executive risks business with Guernsey license

Ed, the global specialty broker, has obtained a commercial insurance intermediary licence from the Guernsey Financial Services Commission. Nick Bachmann has been appointed as divisional director of professional and executive risks to direct the expansion of Ed’s business on the island. He will report to James Baird, director, professional and executive risks. Mr Baird said: “Obtaining a licence in Guernsey…

Marsh unveils new global management structure and divisions

Marsh unveils new global management structure and divisions

Marsh unveils new global management structure and divisions

Marsh has announced a new global management structure that includes newly-formed Global Placement & Specialties and Global Risk & Digital (GR&D) divisions. The broker has also made new appointments to Marsh International and its executive team. Marsh’s new Global Placement & Specialties division encompasses its insurance placement activities as well as its global industry and practice specialties. Dean Klisura is…

JLT acquires Belgian specialty broker to boost EU platform

JLT acquires Belgian specialty broker to boost EU platform

JLT acquires Belgian specialty broker to boost EU platform

Broker JLT has joined London market insurers in establishing a platform for EU business post-Brexit. JLT said it has acquired Belgian specialty broker Belgibo from EXMAR Group to complement its existing Benelux operations, but also to support its service to clients in all 26 EU states and three European Economic Area states, after the UK has left the EU. Based…

Liberty Specialty Markets signs new PI underwriter in The Hague

Liberty Specialty Markets signs new PI underwriter in The Hague

Liberty Specialty Markets signs new PI underwriter in The Hague

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Marnix de Kievit to the newly created role of senior underwriter of professional indemnity (PI) risks for the Netherlands. Based in The Hague, Mr de Kievit will report to Rob Groenen, country manager for the Netherlands, and will work alongside Jeroen Kisters on PI and cyber insurances. LSM…

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