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…

Building a global programme for construction

Building a global programme for construction

Building a global programme for construction

Globalisation is never far from the headlines. Against a shifting geopolitical backdrop and a slowdown in global trade, construction companies are looking to new areas and emerging economies to achieve growth. Meanwhile, laws and regulations around the world are constantly changing. In times of uncertainty, a coordinated approach to risk management and risk transfer is key.

More data on property risks means more informed decisions

More data on property risks means more informed decisions

More data on property risks means more informed decisions

As a risk manager, you want to protect your business properties and assets as effectively and efficiently as possible. That means making well-informed decisions based on as much useful data as you can gather. To make informed decisions about risk, you need two things. First is the raw data. What are the potential problems? What is their likelihood of occurring?…

International Programmes: greater transparency and less complexity – is it possible?

International Programmes: greater transparency and less complexity – is it possible?

International Programmes: greater transparency and less complexity – is it possible?

Zurich Commercial Insurance, one of the global leaders in the international insurance space, explains the major challenges of its large global customers whose international property programme is placed all over the world, and looks at customers’ expectations from insurance carriers like Zurich. “The challenges are many and varied. To name just a couple: global certainty of coverage; consistent delivery of…

Legal perspective: The UK legal picture for 2017

Legal perspective: The UK legal picture for 2017

Legal perspective: The UK legal picture for 2017

Digitalisation, technology, low interest rates and ongoing legislative and regulatory reform create a uniquely demanding and competitive environment for risk managers, insurance buyers and insurers trying to navigate this changing landscape. Many of the larger insurance markets have plans in place to enact further reforms in the coming year, as successive governments recognise that enhanced regulation and clearer codification of…

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