The busiest of years for Airmic chair

The busiest of years for Airmic chair

The busiest of years for Airmic chair

As the outgoing chair of airmic, Clive Clarke has had a somewhat busy year as the risk landscape changed apace. The UK voted to leave the EU only two weeks after he took the seat at Airmic, and just months later Donald Trump was elected US President. Geopolitical risks have also included terrorist attacks on several European cities, including London…

Eurozone boosts global growth forecasts: Fitch

Eurozone boosts global growth forecasts: Fitch

Eurozone boosts global growth forecasts: Fitch

Fitch Ratings predicts that global growth will soon reach its highest level since 2010. In its latest Global Economic Outlook, Fitch forecasts growth of 2.9% in 2017, rising to an eight-year peak of 3.1% in 2018. Fitch said the eurozone, where growth expected to improve to 2%, has caused the most significant uptick in its forecast. “Stronger incoming data, improving…

Common law liabilities for pollution in the UK

Common law liabilities for pollution in the UK

Common law liabilities for pollution in the UK

Anyone familiar with environmental liability will understand how heavily laden the subject is with regulation. Amid the excitement of the UK’s Environmental Protection Act and EU Environmental Liability Directive, it is too easy to neglect the study of a landowner’s duties at common law. Such duties may arise in negligence, for breach of statutory duty, in nuisance or under the…

Fool for five minutes, or forever?

Fool for five minutes, or forever?

Fool for five minutes, or forever?

The inability to deliver a product or service to the customer as promised and agreed is the biggest risk that faces nearly all businesses. This is arguably supply chain risk in its purest form. This risk has changed immeasurably in recent times as the nature of the global economy has transformed towards less tangible services and risks. Tangible supply chain…

Experts identify likely cyber terror targets

Experts identify likely cyber terror targets

Experts identify likely cyber terror targets

Transport and chemical plants are among the most attractive targets for cyber terrorists, although known terrorist groups are years away from launching sophisticated attacks, according to analysis from the Cambridge Centre for Risk Studies (CRS). CRS analysis found that chemical plants, commercial airliners, the Eurostar train and ordinance facilities are the most attractive targets for cyber terrorists that would have…

Virgin Media warns customers over router hacking risk

Virgin Media warns customers over router hacking risk

Virgin Media warns customers over router hacking risk

Cable broadband provider Virgin Media has told 800,000 of its customers in the UK to change their passwords to protect against being hacked. The advice came after an investigation by consumer group Which? found that Virgin Media’s Super Hub 2 router can be hacked in a matter of days if it is left with the default password that is printed…

Rated captives show strong Solvency II ratios, says Best

Rated captives show strong Solvency II ratios, says Best

Rated captives show strong Solvency II ratios, says Best

Reported Solvency II ratios, the ratio of Solvency II available capital to the Solvency Capital Requirement (SCR), are very strong for AM Best-rated European captives, ranging from approximately 160% to 240%, according to the ratings agency. Single entity risk carriers in Europe were required to disclose publicly a Solvency and Financial Condition Report (SFCR) as part of the Solvency II…

Dutch risk and insurance community honours Eric Bloem on retirement

Dutch risk and insurance community honours Eric Bloem on retirement

Dutch risk and insurance community honours Eric Bloem on retirement

The great and the good of the Dutch risk management and insurance community turned up in strength on Tuesday evening (20 June) in Amsterdam for a leaving party for Eric Bloem, global insurance manager for Heineken International, who retires after 39 years with the multinational brewing company. Robin Hoytema Van Konijnenburg, executive director global tax and financial markets, and Mr…

Report turns GDPR focus on insurers

Report turns GDPR focus on insurers

Report turns GDPR focus on insurers

Celent has focused a new report on the impact that EU rules on data protection will have on the insurance sector. With less than one year to go before the General Data Protection Regulation (GDPR) comes into force in May 2018, headlines have focused on the risk of heavy fines for data breaches but Celent reveals that insurers’ main concern…

Willis Towers Watson starts work on megatrends report

Willis Towers Watson starts work on megatrends report

Willis Towers Watson starts work on megatrends report

Willis Towers Watson is working on a report to look at the impact of megatrends on the financial system. Commissioned by the Principles for Responsible Investment (PRI), the report by Willis Towers Watson will explore the risks and opportunities for investors looking at the full range of megatrends including social, technological, economic, environmental and political issues and the impact for…

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