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CRE Insurance
Reinsurance rates continue to decline as record capital grows
Global reinsurance rates continued to decline at the January 1, 2011 renewals, falling on average between 5% and 10%, according to figures from the leading reinsurance brokers.
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CRE Insurance
Brokers on track to deliver Munich Re’s oil risk consortium plan
Reinsurance brokers Guy Carpenter and Willis Re have confirmed that they are working alongside Aon Benfield as placement advisors for a new sudden oil spill consortium, that aims to deliver…
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CRE Insurance
Corporate round-up
Willis launches $250m oil and gas facility with Berkshire backing, Ironshore sets up European operation in Dublin, DUAL authorised for Switzerland and South Africa, Ruxley transfers Aviation & General business,…
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CRE Insurance
Happy Christmas…and a couple of questions
Welcome to the last Commercial Risk Europe newsletter of the year, we hope you find it of interest and have found this news service both useful and enjoyable since launch…
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Association News
AMRAE steps up focus on increased HR risks
The French risk management association is working to increase awareness of growing human resource risks and highlight the advantages of working with HR departments to tackle them.
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CRE Insurance
Earthquakes main contributor to $36bn 2010 cat loss
Insured losses from global catastrophes totaled $36bn in 2010, up from $27bn in 2009, according to Guy Carpenter & Company.
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CRE Insurance
UK MPs urge action to secure flood defences as cuts fall
The UK’s Environment, Food and Rural Affairs Committee has called for urgent action from its government to help protect over five million properties from flooding amid fears that the cut…
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CRE Insurance
Austerity drives to slow growth but upswing will prevail says Allianz
Austerity drives will weigh on growth momentum across the eurozone in 2011 but the upswing witnessed in recent quarters will continue to prevail, according to Allianz Chief Economist, Michael Heise.
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Tackling shipping emissions and its regulation on the agenda
The European Commission (EC) has published the first comprehensive overview of the problem of shipping emissions as debate around regulatory intervention hots up.
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Asia
2010 China floods will have limited impact on insurance industry, Guy Carp
China’s 2010 floods will have a limited impact on the insurance industry due to the low insurance penetration levels in the country, according to a Guy Carpenter report.
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CRE Insurance
Debate on IMD hots up as insurers and buyers state case
Much of the European insurance sector pitched in last week at a public hearing on a proposed European Commission revision of the Insurance Mediation Directive (IMD) to argue that there…
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CRE Insurance
Proposed Spanish law may restrict D&O coverages
Spanish companies might have their option to buy civil liability protection for managers restricted as the new Insurance Contract Act, which is currently being drafted by the Spanish Parliament, could…
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Climate Change
US files suit against BP, QBE and seven others for Deepwater spill
The US Justice Department yesterday filed a suit against oil giant BP, and eight other companies, including Lloyd’s of London insurer QBE as it attempts to recover billions of dollars…
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CRE Insurance
French risk managers are unhappy with insurers
French risk managers are less happy with their insurers and brokers than their European peers. That was one of the most remarkable findings about the French risk management market in…
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CRE Risk Management
Post crisis expansion poses new risks for German risk managers
After the financial crisis, German industry is booming, and enterprises are looking to expand beyond domestic borders. But insurance is the last thing managers have in mind when they take…
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CRE Insurance
Beazley drops pursuit of Hardy
Lloyd's of London insurer Beazley has withdrawn a proposed £180m offer for fellow Lloyd’s insurer Hardy Underwriting.
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CRE Insurance
French workers more positive about employment following crisis, survey says
French workers are less stressed, but feel more tired in 2010 than in 2009, according the third annual study of workers' health by Malakoff-Médéric, a mutual insurer and health services…
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CRE Risk Management
UK corporates believe severity and variety of risks on the increase
Mid-sized corporations in the UK believe that they are exposed to more risks than five years ago and that those risks are more ‘real’, according to research from Chartis.
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CRE Insurance
P&I clubs bounce back but challenges remain say Willis
Despite good underwriting results in the Protection and Indemnity (P&I) market, record claims levels and a continuing gap in the performance of individual P&I Clubs could present challenges for the…
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CRE Insurance
UK Bribery Act concerns financial institutions experts
Underwriters and claims professionals gathered at a Clyde & Co seminar cited the recently passed Bribery Act as the piece of UK legislation that causes them most concern.