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CRE Insurance
AIG calls for directors to pay more attention to their D&O policies
Directors and officers (D&O) insurers have defended their product against industry criticism, insisting that directors must pay greater attention to the extent of their D&O coverage and the claims history…
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CRE Insurance
Capacity overshadows reinsurance market: AM Best
Ahead of the Monte Carlo Reinsurance Rendez-Vous in just over one week’s time, AM Best has given the reinsurance industry a stable outlook. Yet, the ratings agency is increasingly worried…
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CRE Insurance
FSB calls for US federal insurance supervision
Completing its review of US financial services regulation, the Financial Stability Board (FSB) has recommended that the US authorities move toward federal oversight of insurance, as opposed to the current…
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CRE Risk Management
Self-reliance seen as key to coping with future risks: survey
A major survey by Swiss Re has found that people are well aware of the risks they may face in future, and are willing to take action to address them.
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CRE Risk Management
Weaknesses in risk management remain despite growing board level involvement
Top management and the board are increasingly setting the direction and taking tighter control of risk management, integrating it with overall company strategy and embedding it deeper into corporate culture,…
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Captives
Bermuda captive tally holds as SPI numbers grow rapidly
The Bermuda Monetary Authority (BMA) registered 47 new insurers in the seven month period ending July 2013, an 81% increase from the 26 insurers registered over the same period in…
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CRE Insurance
First half insured catastrophe bill exceeds $20bn
Man-made and natural disasters cost a total of $56bn in the first half of 2013, of which insurers paid more than $20bn, according to a preliminary estimate from Swiss Re’s…
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CRE Insurance
Patents show insurers are innovating: RPC
Over 400 international insurance-related patents were filed last year as insurers step-up innovation, according to UK law firm RPC.
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Benelux
Corporate roundup
Aon launches Mexico flood model. Impact Forecasting, the catastrophe modelling unit of Aon Benfield, has launched a new flood model for Mexico.
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CRE Insurance
European reinsurers’ profits hold up despite price softening and cat losses
Ahead of the key January reinsurance renewal negotiations, the big three European reinsurers have reported stable profits despite further price erosion and high second quarter catastrophe losses.
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CRE Insurance
Companies failing to make most of cyber standard 27001–survey
Just 35% of senior executives and IT professionals say their organisation is compliant with ISO 27001, the international best practice standard that aims to help mitigate cyber risk, according to…
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CRE Insurance
AIG lifts global D&O Side A Capacity to $100M
AIG this week announced that it will now offer up to $100m in limits for Side A Directors and Officers (D&O) liability insurance on a global basis.
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CRE Insurance
ACE makes key continental Europe appointments
ACE has made two key promotions within its continental Europe property and casualty business appointing David Snanoudj as Regional Manager of Property and Grant Cairns as Regional Manager for Financial…
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CRE Insurance
Corporate round-up
Lloyd's targets China with second office in Beijing, Equinox Global announces German and US appointments and DUAL appoints senior FI underwriter.
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CRE Risk Management
Teenage kicks
Exam result season serves as a timely reminder of the importance of education, writes Tom Bovingdon from the Institute of Risk Management (IRM).
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Association News
Market backs push for product efficacy and claims certainty
Concerns over how insurers handle large claims remained top of Airmic’s agenda at this year’s conference, but insurers and brokers at the event in Brighton insist that they are listening…
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CRE Insurance
Rates rising in US but still falling in Europe and elsewhere: Marsh
Insurance rates in Europe and most major regions of the world fell 'modestly' in the second quarter of 2013, while rates in the US rose 'moderately', according to Marsh's latest…
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CRE Insurance
Malmström welcomes latest EC package to battle cybercrime
EU Commissioner for Home Affairs, Cecilia Malmström, has welcomed a decision by the European Council to adopt rules to support the fight against cybercrime, in particular large-scale attacks on information…
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CRE Insurance
EC hopes to fill legal gaps for patent protection
The European Commission this week proposed to complete the legal framework for Europe-wide patent protection by updating EU rules on the jurisdiction of courts and recognition of judgements, the so-called…
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CRE Insurance
Willis gives details of client-focused strategic shift
Insurance broker Willis Group Holdings is to focus on meeting clients through a more joined up approach and an investment in analytics, according to a strategic shift announced earlier this…