Compliance burden pushing captives to consider outsourcing but concerns remain

Compliance burden pushing captives to consider outsourcing but concerns remain

Compliance burden pushing captives to consider outsourcing but concerns remain

The burden of disproportionate regulation is making it harder to run a captive without the help of an external captive manager. But ongoing consolidation among brokers and a shortage of new talent have led to concern as to whether there is enough capacity, competence and variety in the captive manager market to meet the rising demand. These issues were raised…

Covid-19 pushes Europe to triple disaster-response budget

Covid-19 pushes Europe to triple disaster-response budget

Covid-19 pushes Europe to triple disaster-response budget

The EU has put in place new funding to strengthen the bloc’s response to natural and manmade disasters, including pandemics, under the existing civil protection mechanism. The European Council said the Covid-19 pandemic had tested the scheme to its limit and said “we need to go further”. Under the new rules adopted by the European Council, funding for the mechanism…

Never been a better time to consider captives say risk managers

Never been a better time to consider captives say risk managers

Never been a better time to consider captives say risk managers

The hardening insurance market and a reduction in coverage as a result of Covid 19 are leading more companies to consider self-insurance. And with a greater range of options available to companies, from reinsurance captives to direct captives to protected cell companies, there has never been a better time to consider a captive. This was the view of two leading…

European countries carry higher earthquake risk in FM Global’s updated map

European countries carry higher earthquake risk in FM Global’s updated map

European countries carry higher earthquake risk in FM Global’s updated map

Several European countries now carry a higher risk of earthquake, according to the latest interactive global threat map from commercial property insurer FM Global. The Netherlands, France, Switzerland, Italy and Israel are considered to be higher-risk earthquake zones and will see more ground movement, the map shows. It feeds soil effects and building structure data into the model to identify…

Keeping an eye on the risks ahead

Keeping an eye on the risks ahead

Keeping an eye on the risks ahead

Dealing with the risks immediately facing any business while also keeping an eye on the future is all part of the day job for both risk managers and insurers, as Chris Staes, Belgium country manager for Risk Frontiers Europe sponsor HDI Global, explains. Understanding clients individually has been key to growing business in Belgium during the combination of a hardening…

Dutch risk managers welcome EC intervention in Aon-WTW deal

Dutch risk managers welcome EC intervention in Aon-WTW deal

Dutch risk managers welcome EC intervention in Aon-WTW deal

Adri Van der Waart, chairman of the Netherlands’ risk and insurance association Narim, believes risk managers should welcome the EC’s intervention in Aon’s proposed $30bn acquisition of Willis Towers Watson (WTW). The EC’s intervention looks like it will force the sale of corporate insurance and other WTW operations in the Netherlands, Germany, France and Spain to enable the deal to…

Brexit has already pushed over 440 financial services firms to Europe

Brexit has already pushed over 440 financial services firms to Europe

Brexit has already pushed over 440 financial services firms to Europe

More than 440 UK banking and finance firms have relocated part of their business, moved staff or set up new entities in Europe following Brexit, with London losing over £100bn of insurance and asset manager funds, according a new report by thinktank New Finance. The reports finds that more than 420 firms have set up new European hubs, with London…

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and A J Gallagher are frontrunners for the Willis Towers Watson (WTW) business in Europe that it seems Aon will have to dispose of to gain the EC’s approval for a planned $30bn acquisition of the group, a senior industry source in Germany told Commercial Risk Europe. It is also thought that McGill and Partners, the London-based broker launched…

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies are set to jump 26% globally this year with several European countries likely to be worst hit as the fallout from Covid-19 finally impacts bankruptcies, according to Atradius. This would follow a 14% fall in insolvencies last year when governments introduced fiscal measures and bankruptcies regime changes to protect businesses from failure, said the trade credit insurer. Atradius added…

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