HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

Germany-based international industrial insurance group HDI Global plans to offer its cyber insurance solutions for corporate and mid-market customers in 14 countries by the end of this year, after successfully launching into the German-speaking markets in 2013. Last year, the group launched its cyber activities in France, the Netherlands, Belgium, Australia and the UK. Most recently it pushed into Japan…

Sustainability takes centre stage as EU non-financial reporting rules take effect

Sustainability takes centre stage as EU non-financial reporting rules take effect

Sustainability takes centre stage as EU non-financial reporting rules take effect

The issue of sustainability is rising up the corporate agenda and must now be taken more seriously as new European rules mandate non-financial reporting at large companies, according to Anna Rönngard, sustainability standards manager at clothing retail firm H & M Hennes & Mauritz. “Along with other European countries, Sweden recently passed EU laws that require sustainability reporting in your…

Delivering an integrated sustainability agenda: the experts view

Delivering an integrated sustainability agenda: the experts view

Delivering an integrated sustainability agenda: the experts view

Anna Rönngard, sustainability standards manager at Swedish multinational clothing-retail company H & M Hennes & Mauritz, delivered a presentation at the recent Swerma Forum in Stockholm on managing sustainability risk. We look at how H&M tackles the issue and her key advice on how to integrate sustainability across an organisation and tackle some of the leading risks. H & M…

Compliance burden in danger of stifling forward-thinking risk management

Compliance burden in danger of stifling forward-thinking risk management

Compliance burden in danger of stifling forward-thinking risk management

A leading risk manager told Commercial Risk Europe at the Swerma Forum that compliance is taking up more and more of his profession’s time, in some cases without adding any real value and becoming just a tickbox exercise. Lennart Edström, vice-president of group risk management at AB Electrolux, said risk managers collectively need to push back against unnecessary compliance that…

Insurance market missing opportunity to help with cyber risk assessment and treatment

Insurance market missing opportunity to help with cyber risk assessment and treatment

Insurance market missing opportunity to help with cyber risk assessment and treatment

Insurers and brokers must work harder to explain cyber risk exposures and mitigation steps to risk managers in black and white, sharing their expertise and experience more freely, say Nordic participants in our European Risk Frontiers survey. Helping organisations understand the cyber risk landscape and exactly what insurance does and does not cover would likely lead to more firms taking out…

Recent European terror attacks don’t signal increased risk, say analysts

Recent European terror attacks don’t signal increased risk, say analysts

Recent European terror attacks don’t signal increased risk, say analysts

Despite recent attacks in the UK, Sweden and Germany, terrorism risk is not increasing in Europe, according to political risk analysts. However, preventing attacks in crowded public places, especially those that use everyday items like vehicles and kitchen knives, will be a challenge for governments and business alike, they say. On Tuesday, a suspected terrorist bomb attack against the Borussia…

Swedish terror attack likely to renew focus on risk

Swedish terror attack likely to renew focus on risk

Swedish terror attack likely to renew focus on risk

Niclas Nelson, president of Swedish risk management association Swerma, said that although last week’s terror attack in Stockholm was a shock it was not unexpected. He advised Swedish risk managers to be alert to terrorism and believes there will be renewed focus on the risk within organisations. Last Friday a truck ploughed into pedestrians in central Stockholm killing four people…

Neon launches marine and offshore construction consortium at Lloyd’s

Neon launches marine and offshore construction consortium at Lloyd’s

Neon launches marine and offshore construction consortium at Lloyd’s

Lloyd’s insurer Neon, which is part of The Great American Insurance Group, launched a new marine and offshore construction consortium. The consortium went live in February and aims to provide bespoke insurance coverage to shipyard clients. The consortium is underwritten by Mireille Dolonen and offers $70m capacity for shipyard construction and $55m for rig construction. Neon leads the consortium and…

Cost of P&I insurance to fall as competition mounts say rating agencies

Cost of P&I insurance to fall as competition mounts say rating agencies

Cost of P&I insurance to fall as competition mounts say rating agencies

Rating agencies predict that the cost of protection and indemnity (P&I) cover will come down as clubs face pressure from hard-up ship owners and react to benign losses. In recent weeks, several P&I clubs announced the results of P&I renewals in February. They were marked by flat rates and risk selection. However, AM Best and Standard & Poor’s (S&P) have…

RSA states aim to ‘outperform’ market as profits rise 25%

RSA states aim to ‘outperform’ market as profits rise 25%

RSA states aim to ‘outperform’ market as profits rise 25%

RSA said 2016 marked a “turnaround” in its fortunes as the insurer reported a 25% increase in operating profits to £655m, drawing a line under three years of restructuring. Group chief executive Stephen Hester said RSA “took major strides forward” last year reporting a 73% surge in underwriting profits to close 2016 at £380m from £220m in 2015. The group’s…

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