Political risks rise as oil prices fall warns Marsh

Political risks rise as oil prices fall warns Marsh

Political risks rise as oil prices fall warns Marsh

Changing trends in the oil and gas industry, largely driven by lower oil prices, have presented risk managers with a new set of risks that need to be addressed, according to a report from broker Marsh. Political and socioeconomic risks have emerged, particularly in countries that have a high dependence on oil and gas, following the dip in oil prices…

Charter launched to eradicate modern slavery in construction supply chains

Charter launched to eradicate modern slavery in construction supply chains

Charter launched to eradicate modern slavery in construction supply chains

A Construction Coalition Charter has been launched in the UK that aims to eradicate modern slavery in construction supply chains. The Charter has been established by Building Research Establishment (BRE), the British Standards Institution (BSI) Supply Chain Services and Solutions and strategic communications partner Sustain Worldwide. The coalition of leading construction sector institutions and associations aims to raise awareness on…

Risk managers urged to review crisis plans following London terror attack

Risk managers urged to review crisis plans following London terror attack

Risk managers urged to review crisis plans following London terror attack

The ‘lone wolf’ terror attack in London this week highlights the changing nature of the terror threat, which is increasingly difficult to predict and prevent, said UK risk management association Airmic as it urged risk managers to review their organisations’ crisis response plans. On Tuesday, British-born Khalid Masood drove a car along the pavement in Westminster, London and stabbed a…

Third-party risks costing firms, survey finds

Third-party risks costing firms, survey finds

Third-party risks costing firms, survey finds

A quarter of businesses said exposure to third-party risks has cost them more than $10m in losses during the past 18 months, according to a global survey on third-party risk management by MetricStream. Some 21% of respondents said their organisation faced significant risk from third parties used to outsource processes and services, with threats ranging from data security to compliance…

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

As risk managers try to work out the implications of growing protectionism in key global markets, the European Union and Japan have decided to seek a speedy conclusion to their latest trade talks. EU Presidents Jean-Claude Juncker and Donald Tusk meet today with Japan’s Prime Minister Shinzo Abe. Negotiations for a bilateral trade deal will feature high on the agenda.…

Eurozone stability dips in 2016

Eurozone stability dips in 2016

Eurozone stability dips in 2016

Eurozone countries have reported the first dip in economic stability for three years, according to a set of 20 indicators measured by Allianz for its Euro Monitor report. The overall rating of eurozone countries, measured on a scale of one to ten, fell slightly from 6.7 points to 6.5 points in 2016. Allianz said that although the stability score is…

Senior management views talent scarcity as serious risk

Senior management views talent scarcity as serious risk

Senior management views talent scarcity as serious risk

Organisations are facing up to the realities of shifting demographics and new technology in terms of accessing the right talent, with senior management viewing talent scarcity more acutely than HR professionals. The 2017 Global Talent Trends Study from Mercer states: “As the competition for talent continues to rise and business models are disrupted by technology and socio-demographic shifts, organisations are…

James Tuplin joins XL Catlin to head CMT team in Europe

James Tuplin joins XL Catlin to head CMT team in Europe

James Tuplin joins XL Catlin to head CMT team in Europe

XL Catlin has poached James Tuplin from rival QBE to be its head of cyber and technology, media and telecoms, international. At QBE he was cyber and TMT portfolio manager, with responsibility for growing the insurer’s cyber portfolio in Europe. Based in London, Mr Tuplin will be responsible for underwriting cyber insurance, as well as professional indemnity insurance for the…

Lloyd’s Argenta Holdings acquired by Hannover Re

Lloyd’s Argenta Holdings acquired by Hannover Re

Lloyd’s Argenta Holdings acquired by Hannover Re

Hannover Re, the third-largest reinsurer in the world, is to acquire the UK holding company Argenta Holdings plc. Argenta owns the Argenta Syndicate Management (ASML) and Argenta Private Capital Ltd (APCL) as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121. The parties have agreed to maintain confidentiality regarding the purchase price. APCL currently supplies almost…

Worrying signs that W&I market is growing too fast

Worrying signs that W&I market is growing too fast

Worrying signs that W&I market is growing too fast

There is a danger that the warranty and indemnity (W&I) insurance market is starting to overheat, warns Munich Re. Monika Milberg, head of financial lines at the global reinsurer, fears there is a worrying sense of euphoria surrounding W&I business, with insurers pouring into the market. “W&I cover is bought for less than 10% of transactions and yet demand has…

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