IN THE SPOTLIGHT: Praveen Sharma, Marsh

IN THE SPOTLIGHT: Praveen Sharma, Marsh

IN THE SPOTLIGHT: Praveen Sharma, Marsh

International Programme News talks to Praveen Sharma, global leader – insurance regulatory & tax consulting practice, Marsh, about global programmes, compliance, local supervisors and ‘fit for purpose’ structures. In general terms, what do risk managers want or expect from their global programme? Risk managers of multinational companies are keen to ensure that the global insurance programmes are fit for purpose…

Contract certainty and compliance in an uncertain, complex world

Contract certainty and compliance in an uncertain, complex world

Contract certainty and compliance in an uncertain, complex world

In the current global environment, the complexity of doing global international business is increasing; it is becoming more uncertain and ambiguity is now a fact of life. As a result, contract certainty and compliance are two key issues for companies when it comes to global insurance programmes As regulators increase their involvement and interest in the businesses operating in their…

Global programmes: Marine risks and how to manage them

Global programmes: Marine risks and how to manage them

Global programmes: Marine risks and how to manage them

Marine insurance is one of the oldest classes of business. But while the market retains many traditions, and many risks are perennial, new, emerging risks, and evolving risks, are posing challenges for risk managers. Marine is by its very nature a global business and global insurance programmes can help risk managers to get a handle on these complex and international…

Ten most difficult things about global programmes

Ten most difficult things about global programmes

Ten most difficult things about global programmes

As one global insurance manager once said of his global insurance programme: “Overall, it is a tortuous, labour-intensive and time-consuming exercise, but it is important and it has to be done.” Obviously there are many benefits, but that does not mean there aren’t difficult challenges to overcome. Forewarned is forearmed as they say. 1. It is time consuming for everyone…

Increasing need for D&O insurance in Asia

Increasing need for D&O insurance in Asia

Increasing need for D&O insurance in Asia

In today’s increasingly litigious business environment, directors and officers face constantly evolving risks and liabilities from regulators and investors, not just in their home market but everywhere the company has operations. Senior leadership are now more likely to have a claim laid against them than ever before. This is becoming a major issue in Asia, where a heightened regulatory environment…

India market report: Liberalisation but tough stance on compliance

India market report: Liberalisation but tough stance on compliance

India market report: Liberalisation but tough stance on compliance

The Indian insurance market has undergone a number of changes in the past few years, not least the raising of the foreign direct investment limit in the insurance sector from 26% to 49%, which has seen a number of global insurers raise the stakes in their Indian joint ventures. There has also been a tougher stance taken by the regulatory…

How to develop a deep understanding of connected risk in order to mitigate successfully

How to develop a deep understanding of connected risk in order to mitigate successfully

How to develop a deep understanding of connected risk in order to mitigate successfully

Global risks (economic, environmental, geopolitical, societal and technological) are evolving rapidly and becoming highly interconnected, which can affect the production cycle of a multinational company dramatically. Risk managers are therefore challenged to respond in a forward-looking and holistic way to protect employees, assets and business continuity. Today’s increasingly unpredictable geopolitical risks are deeply interconnected with the economic environment and if…

Global programmes: Managing the network

Global programmes: Managing the network

Global programmes: Managing the network

For global insurance and captive programmes to run seamlessly for risk managers, it is vital that insurers have a well managed, efficient network in all the countries where their clients receive coverage via locally issued policies. Nowadays, no insurance company has a network of fully owned subsidiaries that can issue policies across the 249 countries listed by the Insurance Services…

Structuring a global D&O programme

Structuring a global D&O programme

Structuring a global D&O programme

Brian Botkin, head of multinational, global financial lines at AIG, examines how directors and officers insurance (D&O) differs from other lines when it comes to global insurance programmes, and explains how such programmes should be structured. Is it possible to describe a typical global D&O programme? Are there any discernible trends in the way such programmes are put together? It…

Ten reasons to have a global programme

Ten reasons to have a global programme

Ten reasons to have a global programme

Does your company have a multinational presence? We’re not talking McDonald’s or Starbucks here. It might be that you have a presence in just a handful of countries. But whether your company is in 100 countries worldwide, or just two or three in Europe, a global insurance programme will probably make sense. So if your company has assets in more…

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