AMRAE elects Wild as new president as Bouquot ends five-year tenure

AMRAE elects Wild as new president as Bouquot ends five-year tenure

AMRAE elects Wild as new president as Bouquot ends five-year tenure

Veolia’s Oliver Wild has been named as AMRAE’s new president, taking over the reins from Brigitte Bouquot after five years. Mr Wild, risk, insurance and internal control coordination director at Veolia, was first appointed to the AMRAE board as director in May 2016. Ms Bouquot, who is president of the Permanent Scientific Committee and administrator of Thales insurance companies, will…

Covid-19 heightens key risks and raises operational threat for several EU countries: Control Risks

Covid-19 heightens key risks and raises operational threat for several EU countries: Control Risks

Covid-19 heightens key risks and raises operational threat for several EU countries: Control Risks

The Covid-19 pandemic has heightened political and economic risks, with a bungled recovery and threat of economic paralysis meeting political weakness the top threats, warns Control Risks in a special edition of its Risk Map 2020. Control Risks has also raised the operational risk level for several European countries following Covid-19. This includes the UK, Spain and Germany, which all…

French pandemic insurance scheme plans near completion: AMRAE

French pandemic insurance scheme plans near completion: AMRAE

French pandemic insurance scheme plans near completion: AMRAE

The working group created by the French Ministry of the Economy and Finance to investigate the best form of state-backed insurance scheme to cover pandemics will present its review to the ministry within the next few days, according to French risk and insurance management association AMRAE. The association is an official member of the working group that was created on the…

Fewer businesses report cyberattacks but costs soar, finds Hiscox survey

Fewer businesses report cyberattacks but costs soar, finds Hiscox survey

Fewer businesses report cyberattacks but costs soar, finds Hiscox survey

The cost of cyberattacks to businesses has spiked almost six-fold to an average $57,000 per event in the past year, according to a new global study from Hiscox. Total cyber losses reported by almost 5,600 companies polled rose to $1.8bn from $1.2bn. But the proportion of surveyed businesses targeted by cyberattacks also fell significantly from 61% to 39%. Some 51% of…

Pandemic accelerating market hardening in Europe, says Marsh

Pandemic accelerating market hardening in Europe, says Marsh

Pandemic accelerating market hardening in Europe, says Marsh

Hardening of the European insurance market is gathering pace, as the coronavirus pandemic adds to existing pressures driving price increases and capacity shortages in certain lines, according to Marsh. It added that market hardening is now touching most lines of business and geographies in Europe, and is expected to continue into 2021. “Covid-19 will in some areas exacerbate the pricing…

AXA agrees further BI settlement with French restaurant owner: reports

AXA agrees further BI settlement with French restaurant owner: reports

AXA agrees further BI settlement with French restaurant owner: reports

Reuters has reported a further settlement agreement between AXA and French restaurant owner Stéphane Manigold following last month’s court decision that ordered the insurer to pay two and half months of business interruption (BI) losses incurred during the Covid-19 lockdown for one of his four restaurants, Le Flaubert. The new report claims AXA has agreed a broader settlement to cover…

EU continues fight against rising protectionism and clarifies sanctions

EU continues fight against rising protectionism and clarifies sanctions

EU continues fight against rising protectionism and clarifies sanctions

The European Union’s efforts to tackle rising protectionism worldwide managed to generate some €8bn in additional exports during 2019. But trade barriers continue to grow and threaten the recovery from Covid-19, warns the EC. The Commission’s annual Trade and Investment Barriers report, published this week, reveals some notable successes in tackling protectionism, particularly in the food sector. Coordinated efforts by the…

Berkshire lunches EIL cover in France

Berkshire lunches EIL cover in France

Berkshire lunches EIL cover in France

Berkshire Hathaway Specialty Insurance (BHSI) is now offering environmental impairment liability (EIL) insurance in France. The company said the new policy combines cover for multiple environmental risks, with technical and legal support to help insureds mitigate environmental incidents and claims. The policy provides protection for an insured’s operating sites and offsite services, such as transport operations. It includes cover for…

Covid-19 BI class actions continue to mount

Covid-19 BI class actions continue to mount

Covid-19 BI class actions continue to mount

Class actions against insurers denying Covid-19-related business interruption (BI) claims are mounting, with yet another collective action launched in the UK and more reportedly on the way. London-law firm Mishcon de Reya has invited UK dental practices to join a collective action against insurer QBE for its rejection of Covid-19 losses under BI policies. The law firm is proceeding with…

Global value chains have bright future despite virus supply chain shock: Coface

Global value chains have bright future despite virus supply chain shock: Coface

Global value chains have bright future despite virus supply chain shock: Coface

Risk managers and their colleagues in supply chain and business continuity will have to look long and hard at the practicalities of near-sourcing their supply chains, in response to the havoc caused by the Covid-19 virus, according to experts at France-based credit insurance group Coface. Many companies are currently examining their reliance on supplies from different countries of the world…

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