BI, cyber and nat cats top risk list for 2018 finds Allianz Barometer

BI, cyber and nat cats top risk list for 2018 finds Allianz Barometer

BI, cyber and nat cats top risk list for 2018 finds Allianz Barometer

Business interruption (BI), cyber and natural catastrophes are the leading business risks this year, according to more than 1,900 risk experts from 80 countries polled for the latest Allianz Risk Barometer. The survey by Allianz Global Corporate & Specialty (AGCS), reveals that BI and cyber also remain the leading two risks in Europe, where changes to legislation/regulation and natural catastrophes…

Too many organisations still working in silos on supply chain risk: Graham

Too many organisations still working in silos on supply chain risk: Graham

Too many organisations still working in silos on supply chain risk: Graham

There are still too many organisations operating in silos when it comes to managing supply chain risk, Julia Graham, Airmic’s technical director and deputy CEO, told delegates at our Supply Chain Risk: Identification, Measurement and Mitigation conference in London this week. She and fellow risk manager Xavier Mutzig urged organisations to boost collaboration on supply chain risk, advising attendees to…

Product recall risks and costs surge: AGCS

Product recall risks and costs surge: AGCS

Product recall risks and costs surge: AGCS

Product recall exposures have soared in the past ten years, with the average cost of a significant recall estimated at $12m, according to a new report from Allianz Global & Corporate Specialty (AGCS). It also warns that “ripple” costs, where a single recall impacts multiple manufacturers and countries, can raise the ultimate bill to billions of dollars. Moreover, new risks…

European supply chain risk index finds UK lagging

European supply chain risk index finds UK lagging

European supply chain risk index finds UK lagging

The UK is near the bottom of QBE Business Insurance’s index that ranks European countries’ ability to manage supply chain risks, primarily because of its poor infrastructure. The UK ranked just 12th out of 15 countries, with only Ireland, Greece and Italy lower. The Netherlands came top for managing supply chain risks, followed by Switzerland, Sweden and Luxembourg. The index…

Collaboration key to supply chain risk management

Collaboration key to supply chain risk management

Collaboration key to supply chain risk management

Supply chain risk is clearly a critical area for all companies that operate in today’s highly competitive, fast-changing and global market. The huge interest shown in Commercial Risk Europe’s supply chain conference in London on 12 December proves how important this topic has become and how keen risk managers are to learn how to more effectively identify, measure, manage and…

Confidence down at UK multinationals as risk ‘blindspots’ surface

Confidence down at UK multinationals as risk ‘blindspots’ surface

Confidence down at UK multinationals as risk ‘blindspots’ surface

As UK multinationals report a marked drop in confidence levels in response to political and economic upheaval driven, in part, by Brexit, there are worrying signs they are taking their eyes off other pressings risks, finds a survey by CNA Harvey. The insurer believes this is leading to risk “blindspots” that are only likely to increase as UK multinationals look…

French market soft with signs of innovation but insurers selective in loss-hit areas: AMRAE

French market soft with signs of innovation but insurers selective in loss-hit areas: AMRAE

French market soft with signs of innovation but insurers selective in loss-hit areas: AMRAE

The soft commercial insurance market continues for French buyers, but insurers are becoming very selective about certain risks and reacting to even small losses suffered by insureds, according to AMRAE. In its annual State of The Market report, the French risk and insurance management association says insurers continue to come under pressure over pricing and buyers clearly have the upper…

More than $1.2bn paid to date for Tianjin claims, says CIRC

More than $1.2bn paid to date for Tianjin claims, says CIRC

More than $1.2bn paid to date for Tianjin claims, says CIRC

The Tianjin bureau of the China Insurance Regulatory Commission (CIRC) has revealed that more than CNY8.1bn ($1.2bn) of insurance claims related to the Tianjin port explosions had been settled by the end of 2016. The explosions occurred in two chemical warehouses back in August 2015 and killed 165 people. This was one of the biggest and costliest man-made catastrophes reported…

Irma set to cost insurance industry less than initially feared and unlikely to shift market

Irma set to cost insurance industry less than initially feared and unlikely to shift market

Irma set to cost insurance industry less than initially feared and unlikely to shift market

Insured loss estimates from Hurricane Irma are lower than initially feared, with the latest placing costs at around $25bn. Experts predict that losses from Hurricanes Irma and Harvey will not shift global insurance market pricing. Yesterday, risk analysis firm Karen Clarke & Co estimated that insured losses from Hurricane Irma will total $25bn, with $18bn of that figure resulting from…

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

The ongoing escalations between North Korea and the rest of the world took another step when the United Nations (UN) voted to impose further sanctions on the rogue nation after its sixth and largest nuclear test. The measures were voted for unanimously by the 15 states that sit on the UN Security Council (including Russia and China). As a result,…

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