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Cyber & Technology
March 22, 2024
White House acts to tackle cyber threat to water system
The US state is stepping up efforts to upgrade the nation’s defences against foreign state-backed cyberattacks on its water and wastewater systems, following recent attacks blamed on hackers backed by…
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Market
March 22, 2024
Zurich expands into the Baltics
Zurich is entering the Baltic market to offer solutions for middle-market companies in Estonia, Latvia and Lithuania. The expansion will see Zurich Nordic offer its insurance and risk mitigation services…
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Spain/Portugal
March 21, 2024
Two-paced Spanish market softening in places with long-term agreements back on the table
The latest renewals showed that insurers have more appetite for Spanish risks, resulting in a significant softening in several market segments, brokers told Commercial Risk Europe. But they stress that…
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Executive & D&O
March 21, 2024
European directors expect little change in D&O premiums, finds WTW poll
The overwhelming majority of European directors either expect their premiums for D&O cover to remain the same or increase next year, despite much discussion about a softening of rates in…
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Market
March 21, 2024
Talanx says industrial lines growth strategy is paying off
German insurance and reinsurance group Talanx has reported that insurance revenue in its industrial lines division, led by HDI Global and HDI Specialty, rose by 10% last year to €9.1bn…
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Association News
March 21, 2024
Airmic backs voluntary UK cyber governance code to ‘focus the minds’ of board members
Airmic and its members back a voluntary code for cyber governance in the UK, which is currently under consultation and aims to help directors drive greater cyber resilience, but stress…
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GRM Insurance
March 21, 2024
SiriusPoint partners with NIP Group on new E&S platform
Bermuda-based specialty (re)insurer SiriusPoint and US specialty insurer NIP Group have formed a new excess and surplus (E&S) programme underwriting platform. As part of the new partnership, SiriusPoint and NIP…
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Legal & Regulation
March 21, 2024
Business confidence in Europe’s competitive position falls
Europe’s business federation believe that there has been no improvement in the position of European companies against global competition, with over half stating that the regulatory burden worsened in 2023.…
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CRE Insurance
March 21, 2024
Fitch predicts moderate rise in profitability for Portugal’s insurers in 2024
Portugal’s non-life insurance sector is expected to report improved profitability in 2024, with rate increases offsetting higher claims frequency and severity, according to Fitch Ratings. The rating agency said the…
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ESG
March 21, 2024
Action groups claim landmark greenwashing victory in KLM case
Dutch action groups have claimed a major victory in the fight against greenwashing by the aviation industry. The District Court of Amsterdam has found that KLM’s marketing contained misleading environmental…
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ESG Other News
March 21, 2024
Risilience launches ‘holistic, sustainability intelligence suite’
UK-based Risilience, a sustainability intelligence firm, has launched a nature platform that will combine with its climate platform to tackle reporting and transition planning. Risilience said the combination will create…
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GRM Insurance
March 20, 2024
Chaucer and US tech firm launch active assailant insurance product
US-based technology firm Gabriel has partnered with specialist insurer Chaucer and crisis management specialists Merrill Herzog to offer a mass shooting insurance product. The active assailant insurance product is designed…
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CRE Legal Regulation
March 20, 2024
Ferma remains ‘vigilant’ as CSDDD passes next hurdle
Ferma has told Commercial Risk that it is “relieved” a risk-based approach to due diligence has survived the watered-down version of the Corporate Sustainability Due Diligence Directive (CSDDD), which was…
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Executive & D&O
March 20, 2024
IUA publishes D&O liability insurance guide for multinationals
The International Underwriting Association (IUA) has published a D&O liability insurance guide addressing the complex compliance, tax and coverage issues surrounding the purchase of D&O liability cover by multinationa... Want…
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GRM Insurance
March 20, 2024
Record-breaking year for ILS market in 2023
Last year was a record-breaking one for the insurance-linked securities (ILS) market, driven by sustained strong pricing levels for reinsurance capital, according to AM Best. ILS investors experienced the highest…
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GRM People Moves
March 20, 2024
Sompo appoints CUO for global markets commercial P&C insurance
Richard Allen has been appointed as chief underwriting officer (CUO) for Sompo’s global markets commercial P&C insurance business. He is based in the London office and will continue to report…
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CRE Legal Regulation
March 20, 2024
Mining giants sued in fresh £3bn lawsuit in the Netherlands over dam collapse
Victims of the 2015 Mariana dam collapse in Brazil are suing Vale and Samarco’s Dutch subsidiary for £3bn in a new lawsuit in the Netherlands. The action, from international law…
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CRE Insurance
March 20, 2024
Ardonagh acquires Italian broker Mediass
UK-based broker Ardonagh has acquired independent Italian broker Mediass, which specialises in general liability, motor and professional indemnity to large corporates, SMEs and public entities. Ardonagh said the deal boosts…
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ESG Insurance
March 20, 2024
Allianz tops insurer sustainability perception brand value ranking
Allianz has topped a listing of insurance brand value and its sustainability perceptions, carried out by brand valuation consultancy Brand Finance. The Sustainability Perceptions Index found that Allianz has the…
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Executive & D&O
March 20, 2024
Health and safety ‘surprise’ top risk for global D&Os, finds WTW survey
Health and safety is the “surprising” top risk for 84% of global directors, officers and risk managers, according to a survey by WTW and Clyde & Co, rising four places…