Captives in global programmes

Captives in global programmes

Captives in global programmes

In today’s global marketplace where companies are operating from Azerbaijan to Zambia, having a centralised way to keep a handle on the myriad risks they face can deliver real benefits. For risk managers, a captive insurance company is a useful tool to coordinate an international insurance programme and to derive some tangible cost savings, while gaining a global picture of…

When people are in the firing line

When people are in the firing line

When people are in the firing line

Jonathan Gregory, global head of kidnap and ransom at AIG, explains why a changing terrorism threat landscape requires businesses to rethink their approach to risk and insurance. The Westminster attack in London on 22 March 2017 is indicative of the current terrorism threat in Organisation for Economic Co-operation and Development (OECD) countries. In an era where complex plots involving several…

A spotlight on global solutions for employee benefits

A spotlight on global solutions for employee benefits

A spotlight on global solutions for employee benefits

More and more large multinationals are realising that there is a significant opportunity to optimise their global employee benefits arrangements by structuring and managing their local benefit plans more holistically. Up until now, the placement of employee benefits has mostly remained local; with best-practices and data-sharing being difficult to implement due to manual processes and local data stored in disparate…

Managing complex casualty risks through global programmes

Managing complex casualty risks through global programmes

Managing complex casualty risks through global programmes

The US is the biggest economy in the world, so it is natural that companies want to continue to expand there. At the same time, the whole world is getting more complex and litigious. If we take the US, differences in state regulations, as well as a consumer-friendly legal system, mean that managing casualty risks can appear daunting. A global…

Environmental impairment liability comes of age

Environmental impairment liability comes of age

Environmental impairment liability comes of age

As environmental impairment liability (EIL) claims frequency and severity trends upwards, Peter Jarvis, head of environmental product, Europe, at AIG, considers whether environmental liability should continue to be viewed as an ‘emerging risk’. Environmental damage claims are becoming more frequent, impacting a wider range of industries than ever before, while remediation costs are creeping steadily upwards. This is the conclusion…

Europe’s new regime on insurance distribution: Germany adopts controversial approach to implementation

Europe’s new regime on insurance distribution: Germany adopts controversial approach to implementation

Europe’s new regime on insurance distribution: Germany adopts controversial approach to implementation

Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (recast) (IDD) sets a new European legal framework for insurance distribution. The IDD has to be implemented in the member states by 23 February 2018, and first steps are being taken in this direction. On 21 November 2016, the German Federal Ministry…

Captive health checks for captive owners

Captive health checks for captive owners

Captive health checks for captive owners

Making the most effective use of the captive retention to optimise risk financing costs is certainly a high risk management priority, and it is recommended that the retention be reviewed at regular intervals. “We have experienced that around 40% of our European captive customers perform an annual basis ‘health check’ to explore whether the captive retention has been set in…

Cyber risks and the supply chain

Cyber risks and the supply chain

Cyber risks and the supply chain

Supply chain risk is a growing problem for companies, but one area that can sometimes be overlooked is the issue of supply chain cyber risk. Multinationals are increasingly reliant on third-party service providers and if any of these suffer disruption or a cyber attack, it could have significant financial repercussions, or result in a loss of customers. But where a…

Assessing natural catastrophe exposures in global programmes

Assessing natural catastrophe exposures in global programmes

Assessing natural catastrophe exposures in global programmes

Natural catastrophe risk is one of the biggest exposures that societies and businesses face today. And as companies expand globally into new territories, this risk can increase in importance. For insurers of global programmes, assessing and underwriting these risks is no easy task. And the nature of the risk is ever present and changing. But according to Martin Vinkenfluegel, international…

Trump and US sanctions – managing the risk

Trump and US sanctions – managing the risk

Trump and US sanctions – managing the risk

US trade and economic sanctions are tools to address national security, foreign policy and economic threats. For the past several decades, the vast majority of sanctions have been imposed by the President alone, not by Congress. Under US law, simply by declaring to Congress that he believes a particular threat constitutes a national emergency, the President becomes vested with authority…

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