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…

French and Spanish firms face new D&O risks

French and Spanish firms face new D&O risks

French and Spanish firms face new D&O risks

While D&O exposures are particularly acute in the UK and Germany, they are also up in Spain and France, according to XL Catlin. A trend towards greater accountability, increased shareholder activism and regulatory investigations are likely to increase D&O liability in both countries over time, according to one of the insurer’s underwriters. For example, reform of the Spanish Companies Act…

Marsh suggests market may be about to turn as rate decreases reduce

Marsh suggests market may be about to turn as rate decreases reduce

Marsh suggests market may be about to turn as rate decreases reduce

Global commercial insurance rates fell again in the last quarter of 2016 but, with reductions decreasing, Marsh believes the market may soon begin to harden. According to Marsh’s Global Insurance Market Index, a further fall in global commercial insurance rates at the end of last year made Q4 2016 the 15th consecutive quarter of price declines. However, the rate of…

AGCS promotes Green in UK PI team

AGCS promotes Green in UK PI team

AGCS promotes Green in UK PI team

Allianz Global Corporate & Specialty (AGCS) has promoted Rob Green to senior underwriter in its UK professional indemnity (PI) team. The appointment is effective immediately. Mr Green will report to Kevin Northcott, head of financial lines at AGCS Regional Unit London. Based in London, Mr Green will be responsible for the development of AGCS’ construction and single project professional indemnity…

New London e-platform gains momentum

New London e-platform gains momentum

New London e-platform gains momentum

A total of 1,600 risks have been placed using the London market electronic trading platform PPL since it launched in July 2016, said the London Market Group (LMG). LMG said it hoped to roll out the system to new classes of business to continue momentum and drive up usage of PPL. LMG said there has been a positive trend in…

Atradius reveals world’s top emerging markets

Atradius reveals world’s top emerging markets

Atradius reveals world’s top emerging markets

Ivory Coast is among the global leading emerging market economies (EMEs) to watch, according to trade credit insurer Atradius, which also cites India, Indonesia, Kenya, Peru, Chile and Bulgaria as places to watch. However, it also warned businesses to take a proactive approach to risk management as they make any investments. The trade credit insurer said: “These economies have been…

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