Willis poaches Hiscox political risk veterans

Willis poaches Hiscox political risk veterans

Willis poaches Hiscox political risk veterans

Willis Towers Watson has recruited Claire Simpson and Victoria Padfield to its Political Risk and Trade Credit team in London as part of a broader expansion of its Financial Solutions division. Ms Simpson has been appointed global claims director. Both Ms Simpson and Ms Padfield held underwriting positions with Hiscox prior to joining Willis Towers Watson. Ms Simpson was head…

Piracy attacks increase in first quarter: IMB

Piracy attacks increase in first quarter: IMB

Piracy attacks increase in first quarter: IMB

Piracy increased during the first quarter of 2017 as hotspots continued off Nigeria and around the southern Philippines, according to statistics from the ICC International Maritime Bureau (IMB). Piracy and armed robberies targeted a total of 43 ships in the first quarter of 2017, up from 37 incidents in the same period last year. A total of 33 vessels worldwide…

Coface sees global business confidence growing but political risk widespread

Coface sees global business confidence growing but political risk widespread

Coface sees global business confidence growing but political risk widespread

Despite persistent political risk, business confidence is reported to be growing in the advanced economies, and financial markets are buoyant. This, combined with economic recovery in the emerging countries, has led Coface to upgrade its global growth forecast to +2.8% and that of global trade to +2.4%. Coface said the rise in business confidence is perceptible but is not yet…

AXA CS UK launches credit and political risk partnership with Anvil

AXA CS UK launches credit and political risk partnership with Anvil

AXA CS UK launches credit and political risk partnership with Anvil

Anvil One Ltd, the credit and political risk MGA, has signed a partnership with AXA in London through AXA Corporate Solutions UK. The agreement will allow Anvil with AXA to underwrite credit and contract frustration risks, both trade and non-trade, as well as political risks. Navaid Farooq, managing director, Anvil said: “This agreement provides a great opportunity for Anvil to…

WeSpecialty launches comprehensive political risk and terror solution as market tightens

WeSpecialty launches comprehensive political risk and terror solution as market tightens

WeSpecialty launches comprehensive political risk and terror solution as market tightens

WeSpecialty, the fast-growing Paris-based specialty managing general agency backed by a number of leading Lloyd’s insurers offering capacity to French and global corporate insurance buyers, has launched an innovative solution to cover political violence, terrorism and political risks. Patrick de la Morinerie – founder and chairman of WeSpecialty, former deputy CEO of AXA Corporate Solutions and chairman of the International…

Business votes digital risks as top three disruption threats

Business votes digital risks as top three disruption threats

Business votes digital risks as top three disruption threats

Digital risks rank as the top three interruption threats in a recent survey of global businesses, undertaken by the Business Continuity Institute (BCI). Cyber attacks emerged as the greatest perceived threat, with 88% of businesses concerned. This was followed by data breach in second place and IT/telecom outages in third. The results are from the BCI’s Horizon Scan Report, published…

Political risk to escalate in 2017 as ‘peak globalisation’ ends: Marsh

Political risk to escalate in 2017 as ‘peak globalisation’ ends: Marsh

Political risk to escalate in 2017 as ‘peak globalisation’ ends: Marsh

The growing political protectionist trend that began in 2016 with the UK’s decision to leave the EU and US election of Donald Trump, ends “peak globalisation” and could stifle economic trade for multinational businesses this year and beyond, said Marsh on publishing its Political Risk Map 2017. The issues driving such political changes – including immigration, terrorism threats and the…

Hiscox and Control Risks launch security risk insurance

Hiscox and Control Risks launch security risk insurance

Hiscox and Control Risks launch security risk insurance

Hiscox has teamed up with risk management consultancy Control Risks to unveil a new insurance policy for security risks including terrorism, bribery, extortion and industrial espionage. The Security Incident Response policy draws on Control Risks’ expertise to provide incident response, crisis management and recovery, while Hiscox will provide cover for criminal, political, terrorism and political violence, kidnap and extortion risks.…

Coface upbeat despite political uncertainties weighing on trade

Coface upbeat despite political uncertainties weighing on trade

Coface upbeat despite political uncertainties weighing on trade

The rise of populism in Europe, uncertainties around Brexit and US President Donald Trump’s protectionist policies are some of the main threats to the global economy in 2017, according to credit insurer Coface. However, the firm predicts improved global growth in 2017 and, for the first time since mid-2015, has awarded more country risk upgrades than downgrades. In a global…

Aon launches tool to measure and manage Brexit risk

Aon launches tool to measure and manage Brexit risk

Aon launches tool to measure and manage Brexit risk

Aon has launched a new tool to help companies in the UK and those with business interests in the country to manage their Brexit risk. Aon clients can use Brexit Navigator to identify the impact of Brexit risk and assess whether they are ‘Brexit-ready’. The tool will also help companies redesign approaches to risk management and risk financing and test…

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