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Captives
2013’s $13bn nat cat losses below ten-year average – Munich Re
Economic and insured losses from natural catastrophes in the first half of 2013 are below the ten-year average and dominated by flood events, according to Munich Re.
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Benelux
Dutch buyers need to brace for harder non-life market
There is a faint whiff of a hardening in the Dutch non-life insurance market according to research recently carried out by Dublin-based market research group Research and Markets.
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CRE Insurance
Torus and Hyperion deals suggest life in soft market yet – comment
The idea that ever-rising interest in the insurance sector from opportunity-starved investors will sustain the seemingly endless soft market for risk managers was given further backing this week as two…
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CRE Insurance
Corporate round-up
Hiscox launches 'first' integrated UK bribery product, AGCS names Paul Crawford as senior cargo underwriter, Lancashire appoints new head of energy and marine in UK and General Atlantic completes investment…
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CRE Risk Management
British Safety Council welcomes fall in workplace fatalities but urges vigilance
The British Safety Council has welcomed a fall in the number of UK employees killed at work over the last year but urged business to do more to protect its…
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CRE Risk Management
Call for comment on revised draft handbook Risk Management Guidelines Companion to AS/NZS ISO 31000:2009
The Standards Australia/Standards New Zealand Joint Technical Committee OB/7 - Risk Management has completed the revision of HB 436:2004 and the draft handbook Risk Management Guidelines Companion to AS/NZS ISO…
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Association News
Second leading insurer removes basis clauses from UK contracts
ACE has followed in the footsteps of AXA and promised to remove basis clauses from UK contracts. It remains to be seen whether other leading insurers will follow suit, but…
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CRE Insurance
UK funding for flood defence inadequate warn MPs
The UK's Environment, Food and Rural Affairs Committee has today warned that new measures to tackle flood risk do not go far enough and that new funding announced by government…
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CRE Insurance
Lloyd’s CEO Richard Ward to step down at end of year
The CEO of Lloyd's, Richard Ward, has announced that he will step down from the role at the end of this year.
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CRE Insurance
Flood Re welcomed but proposals under scrutiny
The UK's Environment, Food and Rural Affairs (Efra) Committee is concerned over how the UK's planned Flood Re insurance scheme that aims to ensure flood cover remains widely available and…
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Association News
Ferma opens doors to overseas members
Ferma has opened membership to individuals and corporates outside of its national member associations in a bid to boost their representation and interest in European risk management. The move is…
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CRE Insurance
Insurance associations reject EIOPA’s SII recommendations
The prospect of further delays to Solvency II have increased after the insurance associations of France and Germany rejected the latest set of recommendations published by EIOPA, the European insurance…
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CRE Risk Management
Reputational fallout from Pirelli’s F1 blowouts
Reputational risk sped into view once again this week as tyre manufacturer Pirelli came under the intense spotlight of the sporting media and public following a series of tyre blowouts…
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CRE Insurance
Reinsurance rates slide but yet to filter down to primary market
Rates for US catastrophe reinsurance continued to slide at the June and July renewal as capital market investors went head to head with traditional reinsurers.
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Association News
Local French government faces inflated risk, survey shows
Threats to employee physical and mental health are the biggest risks faced by French local government, according to an AMRAE survey.
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CRE Insurance
Member states concede they are not prepared for SII
Many EEA member states are ill prepared to comply with EIOPA's proposed Solvency II interim implementation guidelines and would prefer a 'Quick Fix Directive' to delay Solvency II until some…
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CRE Insurance
AIR releases pandemic flu model and updates Japanese earthquake offering
AIR has released a new model for global pandemic influenza risk and a 'comprehensive' update to its Japanese earthquake model.
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CRE Insurance
Unrest in Turkey and Brazil has minimal impact on political and trade credit markets
Recent unrest in Turkey and Brazil has had minimal impact on the global political risk and trade credit insurance markets, according to Marsh.
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CRE Insurance
Corporate round-up
ACS appoint new Commercial Director for Austria, QBE launches Aviation Excess Grounding Liability product, Biagetti named as Forensic Risk Alliance's COO, Mel Goddard appointed non-exec director at Prosight and Barbican…
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CRE Insurance
Insurers struggling to manage risk finds survey
Over a quarter of insurers globally are struggling to manage their risk with 29% of companies having divested lines of business since the start of the financial crisis due to…
