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CRE Legal Regulation
April 24, 2024
European Parliament votes for ‘hard-fought compromise’ on CSDDD
MEPs have voted in favour of the Corporate Sustainability Due Diligence Directive (CSDDD), giving the final green light to rules requiring firms to prevent and mitigate negative impacts on human…
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Market
April 24, 2024
Rates fall in most regions during Q1 but rise in Europe and US: Marsh
Average commercial insurance rates fell in the UK, Asia, Canada and the Pacific during the first quarter of this year but rose 3% in both Europe and the US, with…
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Cyber & Technology
April 24, 2024
Major cyberattack would hike rates but insurers would ‘brush off’ losses: Lockton Re
A major cyber catastrophe event will inevitably see the return of rate increases for buyers although the insurance industry as a whole will likely “brush off” a scenario where losses…
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Market
April 24, 2024
Chubb says Q1 saw ‘best rates’ as it books $2bn profit
Chubb chairman and CEO Evan Greenberg said the group saw “the best rates and pricing” for more than a year in the first quarter of the year as it revealed…
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CRE Risk Management
April 24, 2024
Property risk and flood mapping platform expands to Europe
Geocoding and property intelligence expert Addresscloud has partnered with flood risk management firm JBA Risk management to map the flood risk of more than 280 million buildings across mainland Europe,…
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Marine
April 24, 2024
Baltimore bridge ship “unseaworthy”, claims city in lawsuit against owners
The city of Baltimore has filed a lawsuit against the operators of container ship Dali, which caused the collapse of the Francis Scott Key Bridge last month, alleging the ship…
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Construction
April 24, 2024
Early construction project engagement critical to mitigate climate risks
A panel during Commercial Risk’s Construction Risk Management Europe Conference urged construction companies to get technical experts involved much earlier in projects to help manage accelerating climate risks. Stuart Larg...…
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ESG Regulation
April 24, 2024
ISSB opens reporting projects on biodiversity and human capital
The International Sustainability Standards Board (ISSB), partner body to the International Accounting Standards Board (IASB) under the IFRS, has announced that it will commence projects to research disclosure about risks…
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ESG Regulation
April 24, 2024
UK regulator widens net for sustainability disclosure rules
The UK’s financial services regulator said it wants to extend sustainability disclosure requirements for asset managers, due to begin from July 2024, to portfolio managers to ensure investment products labelled…
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GRM Insurance
April 24, 2024
CFC forms team focused on M&A deals in renewable energy market
A dedicated team focused on underwriting representations and warranties insurance in the renewable energy market has been established by specialist insurer CFC. CFC said its energy and renewables underwriting team…
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Analysis & Opinion
April 23, 2024
Action needed to bridge $800bn Asian climate finance gap
Asian governments, regulators and businesses need to sustain collective commitment and action, strengthen climate disclosures and support the de-risking and viability of transition financing to fully play their regional role…
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Construction
April 23, 2024
Courage and collaboration needed to manage emerging construction sector risks
The construction sector’s long-term outlook is positive, but it faces a number of challenges, not least the number of emerging risks that can lead to issues with the insurance sector.…
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Aviation
April 23, 2024
Dubai floods put $8bn of aircraft at risk, estimates Russell Group
Aircraft with a value of $8bn on the ground at Dubai’s airport were at risk of damage during unprecedented rainstorms last week, according to calculations from data and analytics firm…
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CRA Associations
April 23, 2024
Parima heads to Manila for first of three conferences this year
The Pan-Asia Risk and Insurance Management Association (Parima) will hold the first of a series of conferences this year in Manila as it returns to the Philippines for the first…
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Market
April 23, 2024
Munich Re ‘more likely’ to exceed 2024 profit target after €2.1bn gain in Q1
Munich Re has posted a preliminary net profit of €2.1bn for the first quarter of 2024, significantly outrunning analysts’ expectations of €1.48bn. Munich Re said the “strong start” to 2024…
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CRE Legal Regulation
April 23, 2024
Insurance Europe calls for EC to ‘get it right’ on Solvency II
Changes to Europe’s Solvency II regulation at technical level must be “fully aligned” with the intentions of the political agreement reached in December 2023, warned Insurance Europe. Representing national insurance…
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GRM People Moves
April 23, 2024
Zurich North America names professional liability, cyber leader
Zurich North America has named Kara Higginbotham head of professional liability and cyber for US national accounts. Higginbotham, based in New York, most recently headed corporate accounts for professional liability…
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CRE People Moves
April 23, 2024
Arch Insurance International names deputy CEO
Arch Insurance International has appointed Kirsten Valder as deputy CEO, responsible for developing the group’s London market and UK regional market, as well as operations in Australia, Bermuda and the…
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Cyber & Technology
April 23, 2024
IQUW adds cyber cover to US financial institutions policies
Property and specialty insurer and reinsurer IQUW, with a syndicate at Lloyd’s, has launched a combined financial institutions and cyber solution for US buyers. FortiFI includes cyber cover in its…
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Market
April 23, 2024
Sompo pledges lead capacity for growth in France and Spain
Sompo International is making a big effort to grow in France and Spain, with more continental European markets likely to be targeted, and told Commercial Risk that it will offer…