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Climate Change
Evidence mounts of capacity crunch for CBI coverage as Thai losses spiral
Evidence is rapidly building that European risk managers with international exposures will face tough renewals for their business interruption coverage in coming months as the big reinsurers report significantly higher…
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Association News
Airmic casualty benchmarking survey reveals buyers’ concerns
Global casualty insurance programmes have felt little impact from global economic and political uncertainty, according to the second annual casualty benchmarking survey carried out by the UK risk and insurance…
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CRE Insurance
Solvency II and capacity top European risk managers’ fears finds survey
Fast-growing global specialty insurer Torus, that only this week announced an agreement to acquire the continental European business of CV Starr Syndicate 1919 at Lloyd’s (see related story below), has…
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Climate Change
Communicating deeper uncertainties and living with micromorts
David Spiegelhalter classes himself as a professor of risk encouragement. In fact, he is Winton Professor for the Public Understanding of Risk at Cambridge University, but perhaps risk professionals should…
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Asia
China offers bigger supply chain risk than Japan as insurers continue to eye opportunities
Reports from PwC and Aon Benfield published this week underline the huge potential of the Chinese insurance market but also the fact that foreign insurers and reinsurers must continue to…
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Susep announcement looks like success for Ferma in Brazil
Controversy about changes to the Brazilian reinsurance market rules have taken another twist as the authorities announced a new rule that will enable buyers to place abroad risks that, in…
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CRE Insurance
Global business continuity survey shows sharp rise in supply chain problems
Almost nine out of ten companies, or 85%, have suffered such a supply chain interruption in the past twelve months according to a survey, conducted by the UK-based Business Continuity…
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CRE Insurance
Niche brokers occupy sweet spot in increasingly specialised world claim German experts
German risk managers may increasingly prefer the services of small and medium-sized brokers to those of the market leaders despite the increased time and workload involved with spreading the net,…
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CRE Insurance
Regulatory changes threaten ratings of Argentinian insurers
Regulatory changes implemented by the Argentinian government have cast a shadow on the credit ratings of insurance companies in the country, with Moody's revising the outlook for some of the…
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Climate Change
Insurers favour market-driven solutions for environmental liability risks
The International Underwriting Association (IUA) has said that market-driven solutions to environmental liability risks should take precedence over possible EU-enforced compulsory financial requirements currently under discussion in Brussels.
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Climate Change
Improved risk management vital for renewable energy sector
The renewable energy sector needs to improve risk management and access alternative sources of capital as operational risks rise and governments cut funding because of the uncertain economic environment.
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Climate Change
Corporate Round Up
Torus expands again with Starr renewal deal, AXA top management changes and Swiss Re’s economic forecast for insurers
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CRE Insurance
New Chief Executive for XL’s insurance segment
Greg Hendrick is to become Chief Executive of XL’s insurance segment after the retirement of Dave Duclos, the current insurance head. Mr Hendrick, currently XL’s Executive Vice President, Strategic Growth,…
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Association News
Institute of Risk Management elects new chairman
Richard Anderson has been elected chairman of the board of directors of the Institute of Risk Management (IRM). Mr Anderson is Managing Director, UK at Crowe Horwath Global Risk Consulting…
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Association News
London market looks set to cooperate on global compliance database
With the support of Ferma, the International Underwriting Association (IUA) and the London and International Insurance Brokers’ Association (LIIBA), Airmic formally approached the London insurance market on 28 November to…
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CRE Risk Management
UK announces cyber security strategy that may help develop insurance cover
The UK government has announced a multi-pronged initiative to tackle the growing threat of cybercrime. Ostensibly the Cyber Security Strategy is designed to promote the UK as a safe place…
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CRE Insurance
Groupama troubles question viability of mutuals in light of Solvency II
Developments at French insurance group Groupama in the past few months have reignited concerns about the ability of mutual insurance companies to raise new capital, especially as the Solvency II…
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CRE Insurance
AIR’s Simic concerned insurers are using models as excuse to up cat rates
Milan Simic, Senior Vice President, Managing Director at AIR Worldwide Ltd has suggested that the risk transfer industry is using new risk models, such as the much debated RMS v11…
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CRE Insurance
Reinsurers fear for climate change talks and renewables as UN meets
The world’s two biggest reinsurance companies have called for a renewed commitment to tackling climate change and the shift from fossil fuels to renewable energy as the United Nations gathered…
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Association News
Business urged to respond to rise in litigation by employees in Spain
Spanish companies must be prepared to face more frequent litigation from their employees, risk managers were warned in Madrid during a morning-long seminar about trends for the next round of…