Gender pay reporting becomes business risk

Gender pay reporting becomes business risk

Gender pay reporting becomes business risk

As many will have noticed, organisations reporting their gender pay gap statistics have been creating negative headlines in the press. As businesses attempt to reduce their gender pay gap, it is important to understand the risks that this can present. UK employers with 250 or more employees have until 4 April 2018 to publish their gender pay gap figures on…

Gender pay gap – insurers must do better

Gender pay gap – insurers must do better

Gender pay gap – insurers must do better

Lloyd’s’ mean gender pay gap, the difference between the average pay for a male in the corporation compared with the average pay of a woman, is 27.7%. Lloyd’s released its gender balance figures in line with reporting requirements, and it relates to UK employees of the Corporation of Lloyd’s as at 5 April 2017. Lloyd’s market firms that have more…

Mayor of Cologne in London to promote city as EU insurance hub

Mayor of Cologne in London to promote city as EU insurance hub

Mayor of Cologne in London to promote city as EU insurance hub

Henriette Reker, the Mayor of Cologne, was in London today to meet leading representatives of the London insurance and reinsurance market and explain why Cologne should be considered as a viable option for UK and international insurers seeking a base for their European Union (EU) operations. The bulk of premium generated by Lloyd’s still comes from the US, with increasing…

Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Turbulence in political risk – particularly Brexit negotiations, trade protectionism and the North Korea missile crisis – will continue into 2018 and feature high on the agenda of multinationals, Marsh said on publishing its Political Risk Map 2018 with BMI Research. In Europe, the political risk landscape continues to be dominated by the UK’s exit from the European Union and…

UK rate increases fail to materialise, with market largely flat: Willis

UK rate increases fail to materialise, with market largely flat: Willis

UK rate increases fail to materialise, with market largely flat: Willis

UK corporate insurance buyers have avoided the hefty rate rises some predicted following record catastrophe-driven losses in the insurance and reinsurance markets last year, with the market largely flat, according to line-by-line analysis by Willis Towers Watson. However, with rate rises failing to materialise, buyers may instead face more selective underwriting as insurers focus on costs and reassess the quality…

Nat cat claims take a bite out of 2017 profits at Brit

Nat cat claims take a bite out of 2017 profits at Brit

Nat cat claims take a bite out of 2017 profits at Brit

Specialty insurer Brit paid out $250m in natural catastrophe-related claims in 2017, producing a 112.4% combined ratio. CEO Matthew Wilson said the losses were in line with its expectations given the nature and scale of the events and Brit’s market share. Profit after tax was $21.5m for 2017, compared with $157.6m for 2016; gross written premiums totalled $2.06bn (2016: $1.91bn),…

UK brokers risk missing the Brexit boat, LIIBA warns

UK brokers risk missing the Brexit boat, LIIBA warns

UK brokers risk missing the Brexit boat, LIIBA warns

UK brokers that fail to finalise their Brexit plans risk not being ready to trade with underwriters’ new entities, which could result in disruption to their clients, trading partners and own businesses, according to the authors of a new report. Many might need to form a subsidiary company in the EU. The report, from the London and International Insurance Brokers’…

Pool Re rolls out premium discount scheme for buyers

Pool Re rolls out premium discount scheme for buyers

Pool Re rolls out premium discount scheme for buyers

UK terrorism reinsurer Pool Re has launched a terrorism risk assessment tool for medium-sized and large businesses to measure their risk and receive a potential 5% discount on their premiums. Buyers that use the Vulnerability Self-Assessment Tool (VSAT) will be offered lower premiums by Pool Re’s member insurers for implementing new risk mitigation measures. The tool will be in place…

January storm losses in Europe match annual total for 2017

January storm losses in Europe match annual total for 2017

January storm losses in Europe match annual total for 2017

Insured losses from European windstorms this January, causing an estimated bill of more than $2bn, have already matched total insured windstorm losses in the region for the whole of 2017, according to Aon Benfield’s Impact Forecasting monthly global catastrophe report. Windstorms Friederike, Eleanor and Carmen struck parts of Europe last month. Friederike was the most severe storm, killing at least…

Consumers link data risk to buying decisions, reveals new poll

Consumers link data risk to buying decisions, reveals new poll

Consumers link data risk to buying decisions, reveals new poll

Some 78% of European and US consumers said they consider a company’s reputation for handling customer data before deciding to buy from them, according to a new poll by YouGov for cybersecurity firm RSA. Just months before the European Union’s General Data Protection Regulation (GDPR) comes into effect, the survey found that 62% of consumers in the UK, Germany, France,…

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