EC’s collective redress proposals ‘extremely harsh’ on business and risk managers: source

EC’s collective redress proposals ‘extremely harsh’ on business and risk managers: source

EC’s collective redress proposals ‘extremely harsh’ on business and risk managers: source

The EC’s proposed pan-European collective redress system put forward last week is much tougher on business than observers feared and would have huge implications for companies in terms of liability, insurance and risk management, a source in Brussels close to risk and insurance managers told Commercial Risk Europe. With key safeguards previously put forward by the EC to stop abuse…

GDPR and focus on privacy set to increase D&O risk

GDPR and focus on privacy set to increase D&O risk

GDPR and focus on privacy set to increase D&O risk

A growing focus on privacy and tougher EU data protection laws could drive future claims against directors and officers, experts warn. The recent alleged misuse of personal data belonging to Facebook users has shone the spotlight on privacy liability just as the EU implements its General Data Protection Regulation (GDPR) on 25 May. The GDPR introduces new rights for consumers…

Sedgwick completes Cunningham Lindsey deal

Sedgwick completes Cunningham Lindsey deal

Sedgwick completes Cunningham Lindsey deal

Global risk and benefits solutions firm Sedgwick has completed the acquisition of loss adjuster Cunningham Lindsey, taking it a step closer towards rebranding all global operations under the Sedgwick name. The deal, announced in December last year, will swell Sedgwick’s employee numbers by 6,000 to 21,000 and add 600 offices across 65 countries. Sedgwick said Cunningham Lindsey’s services – which,…

New stats show cloud-based office solutions under increasing attack

New stats show cloud-based office solutions under increasing attack

New stats show cloud-based office solutions under increasing attack

Cloud-based office solutions are coming under attack, with the number of employee emails compromised by hackers rising in 2018, according to insurer Beazley. Reporting data breach statistics for the first quarter of 2018, Beazley said businesses using the cloud-based solution for Microsoft Office applications – Office 365 – have found themselves particularly targeted by hackers. Such hack and malware breaches…

Ferma calls for balance in EC’s collective redress plans

Ferma calls for balance in EC’s collective redress plans

Ferma calls for balance in EC’s collective redress plans

Ferma is considering the implications of the EC’s plans to introduce collective redress across the EU and higher penalties for companies that breach consumer law, before making its next move. But the federation has already reiterated its stance against punitive damages and reconfirmed its belief that out-of-court settlements are preferable for business and consumers, while reminding the commission of the…

Lafarge HR director charged over Syria plant scandal

Lafarge HR director charged over Syria plant scandal

Lafarge HR director charged over Syria plant scandal

The former HR director of French cement and construction firm Lafarge has been charged over the company’s continuing presence in Syria after other international companies left the country during its civil war. According to a report by AFP, Sonia Artinian, Lafarge’s HR director between 2013 and 2016, was charged with endangering the lives of others, but not with the higher…

Rising boardroom concern over cyber and regulatory risk but supply chain overlooked

Rising boardroom concern over cyber and regulatory risk but supply chain overlooked

Rising boardroom concern over cyber and regulatory risk but supply chain overlooked

Cyber and regulatory risks have climbed the boardroom agenda at UK multinationals, but corporate and supply chain risks are still failing to register at firms across Europe, according to a new survey by CNA Hardy. The poll also reveals that although there is growing confidence among UK firms about their prospects, those in continental Europe are far more upbeat. CNA…

European business and insurers concerned EC’s collective redress proposals open to abuse

European business and insurers concerned EC’s collective redress proposals open to abuse

European business and insurers concerned EC’s collective redress proposals open to abuse

European business and insurance industry associations have come out against the EC’s proposals to introduce collective redress across the EU, because they believe they do not safeguard against abuse and could add unfair costs to their members. Both Insurance Europe, the insurance industry body, and BusinessEurope, which represents European business associations, are concerned that the system put forward by the…

EC set to grant consumers collective redress across EU and ramp up fines on rulebreakers

EC set to grant consumers collective redress across EU and ramp up fines on rulebreakers

EC set to grant consumers collective redress across EU and ramp up fines on rulebreakers

The EC has announced major plans to introduce collective redress rights for consumers across the EU and higher penalties of up to 4% of annual turnover for companies that breach consumer law. In its New Deal for Consumers, the EC also intends to extend consumers’ online protection and ensure dual quality practices – whereby products marketed as the same are…

Aon’s 2018 maps show political violence and risk on the rise

Aon’s 2018 maps show political violence and risk on the rise

Aon’s 2018 maps show political violence and risk on the rise

Political violence risk has increased worldwide for the third year in a row, while broader political risk is also up, according to analysis by Aon. The broker’s newly released 2018 political risk, terrorism and political violence risk maps also suggest that the global threat posed by Islamic State (IS) has peaked, with its reach likely to fall in 2018. Political…

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