HDI Global opens Bern office

HDI Global opens Bern office

HDI Global opens Bern office

HDI Global has opened a third branch office in Switzerland. The industrial insurance company said its new Bern office is part of plans for international growth targeting key business regions. Hans Mazenauer, manager of HDI Global SE’s Swiss branch office, said: “Bern is Federal City and also the centre of one of Switzerland’s most important economic regions. In future, this…

Global insurance rates fall for 16th quarter, but pace of decline slows

Global insurance rates fall for 16th quarter, but pace of decline slows

Global insurance rates fall for 16th quarter, but pace of decline slows

Global insurance rates have now fallen every quarter for the past four years, but the rate of decline slowed for the fifth consecutive quarter, finds Marsh’s Global Insurance Market Index. In continental Europe, however, rates fell slightly more in the first quarter of 2017 than Q4 of last year, and in the UK the rate of decline was static. The…

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…

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…

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…

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…

Beazley expands financial lines presence in continental Europe

Beazley expands financial lines presence in continental Europe

Beazley expands financial lines presence in continental Europe

Beazley has appointed Lorena Segovia to the newly created role of financial lines regional manager for continental Europe. Ms Segovia will be responsible for the development of Beazley’s specialty lines business across the continent. Ms Segovia joins Beazley from HCC Global, where from 2010 she was financial lines underwriting manager for southern Europe. She had previously played a key role…

Liberty Specialty appoints European head of financial risks

Liberty Specialty appoints European head of financial risks

Liberty Specialty appoints European head of financial risks

Liberty Specialty Markets has appointed Alexandra Paton as head of continental Europe for global financial risks (GFR). Ms Paton most recently founded managing general agent Equinox Global, after working for AIG and Atradius. She takes over her new role from Alex Engell, who now works for Liberty’s GFR operation in the US. Ms Paton will be based in both Paris,…

Worrying signs that W&I market is growing too fast

Worrying signs that W&I market is growing too fast

Worrying signs that W&I market is growing too fast

There is a danger that the warranty and indemnity (W&I) insurance market is starting to overheat, warns Munich Re. Monika Milberg, head of financial lines at the global reinsurer, fears there is a worrying sense of euphoria surrounding W&I business, with insurers pouring into the market. “W&I cover is bought for less than 10% of transactions and yet demand has…

D&O exposures increasing in Europe

D&O exposures increasing in Europe

D&O exposures increasing in Europe

The trend towards increased exposures for directors and officers in Europe is continuing, with corporates seeing large regulatory fines and further shareholder actions in recent months. In January, Rolls-Royce agreed a record £671m settlement with UK regulators over bribery and corruption allegations. Shortly after, telecoms group BT saw its shares plunge when it revealed the extent of accounting irregularities at…

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