Credit risk spikes at eastern European businesses

Credit risk spikes at eastern European businesses

Credit risk spikes at eastern European businesses

Businesses trading with eastern European suppliers and customers are at an increased risk of payment default, according to Atradius. New research by the the trade credit insurer found that 86% of eastern European customers have received late payments on invoices during the past year, with 58% citing liquidity issues as the main reason. The report, which analyses data from businesses…

Ironshore boosts M&A insurance programme capacity to £100m

Ironshore boosts M&A insurance programme capacity to £100m

Ironshore boosts M&A insurance programme capacity to £100m

Ironshore International’s mergers and acquisitions and tax insurance unit has increased its consortium programme capacity to £100m, up from its current limit of £78.5m, in response to client and broker demand. The specialty unit is also announcing a new tax consortium with initial capacity of £40m. Both consortia will be able to write in combination with Ironshore’s Bermudian platform for…

TMK launches VFX and post-production media insurance

TMK launches VFX and post-production media insurance

TMK launches VFX and post-production media insurance

Tokio Marine Kiln (TMK) has launched a hybrid product, VFX and Post-Production Media Insurance, for companies specialising in online or offline editing and digital content. Post-production media insurance, which combines traditional commercial insurance with cyber and reputational management cover, was designed to address the need for insurance cover in the face of cyber attacks and accidental security breaches. Policyholders will…

Liberty appoints senior underwriter for Global Financial Risks

Liberty appoints senior underwriter for Global Financial Risks

Liberty appoints senior underwriter for Global Financial Risks

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Sam Wilde as senior underwriter in its Global Financial Risks (GFR) unit. Mr Wilde joins from Deutsche Bank and will report to Huw Owen, GFR head of London markets, and he will focus on underwriting credit transactions for corporates, banks, financial institutions and development finance institutions. Peter Sprent,…

Fenchurch Law appoints new associate

Fenchurch Law appoints new associate

Fenchurch Law appoints new associate

UK firm Fenchurch Law, which specialises in complex insurance disputes and works solely for insureds, has appointed Alex Rosenfield as an associate in its professions team. Fenchurch Law said Mr Rosenfield brings experience of property damage, business interruption and professional indemnity claims for professional clients including accountants, solicitors, IFAs and surveyors caught up in claims disputes. Mr Rosenfield joins Fenchurch…

Nigeria’s exchange rate still a cause for concern

Nigeria’s exchange rate still a cause for concern

Nigeria’s exchange rate still a cause for concern

Investors are being put off Nigeria because of its erratic foreign exchange policy, but analysts are warning the Central Bank of Nigeria (CBN) still has little room for manoeuvre. Malte Liewerscheidt, politics senior analyst, Africa, Verisk Maplecroft, explained: “An overvalued official exchange rate curbed traders’ appetite, while tight currency controls and lack of liquidity in the forex market meant that…

Confidence in investment into Africa remains high

Confidence in investment into Africa remains high

Confidence in investment into Africa remains high

FDI flows to Africa may be threatened by global economic uncertainty, but delegates at the fourth annual African Trade Insurance Agency roundtable heard that Africans can do more to help themselves and boost intra-African trade. Liz Booth reports from the event Africans must learn to do more for themselves and to seek out investment support, according to speakers and delegates…

Chubb enhances financial lines covers in the UK and Ireland

Chubb enhances financial lines covers in the UK and Ireland

Chubb enhances financial lines covers in the UK and Ireland

Chubb says that it has enhanced two of its key financial lines wordings – Elite D&O and Elite Commercial Crime – in the UK and Ireland. Elite D&O covers executives serving in both private and listed middle market companies, large corporates and multinationals across the UK, Ireland and beyond. The new wording was developed in response to feedback from Chubb’s…

New management liability products from Beazley address EU risk

New management liability products from Beazley address EU risk

New management liability products from Beazley address EU risk

Beazley has released two sets of products for organisations domiciled outside the US, one designed for the specific cyber needs of financial institutions and the other providing management liability cover for traditional and emerging risks. Beazley said its financial institutions and data breach teams, headed by Neale Stevenson and Alessandro Lezzi respectively, have developed a creative new package that combines…

Willis poaches Hiscox political risk veterans

Willis poaches Hiscox political risk veterans

Willis poaches Hiscox political risk veterans

Willis Towers Watson has recruited Claire Simpson and Victoria Padfield to its Political Risk and Trade Credit team in London as part of a broader expansion of its Financial Solutions division. Ms Simpson has been appointed global claims director. Both Ms Simpson and Ms Padfield held underwriting positions with Hiscox prior to joining Willis Towers Watson. Ms Simpson was head…

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