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Association News
FERMA elects vice-presidents
The FERMA board has elected both Julia Graham, Chief Risk Officer of law firm DLA Piper UK, and Jorge Luzzi, Group Risk Management Director of Pirelli Group as vice-presidents.
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CRE Insurance
Commercial property rates set to stand firm
Rates for commercial property insurance are unlikely to rise significantly in the near future despite the attempts of some insurance companies to talk up the market, according to analysis from…
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Association News
Reputational risk top concern for AIRMIC members
Reputational risk is the leading concern for U.K. risk managers according to the annual survey of members carried out by AIRMIC. The last couple of years have been dominated by…
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Association News
Captives under pressure
As debates continues as to the future role of captives, in light of the potential impacts of Solvency II and the credit crisis, the key concerns were discussed at a…
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Association News
First AIRMIC Casualty benchmark completes suite
AIRMIC unveiled the results of its first-ever benchmarking study into the Casualty insurance market at its conference this week, which completes its suite of benchmarking in the three major classes…
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CRE Insurance
Business warned to maintain vigilance on terror risk
The last few years have seen a relative decline in terrorist attacks in the developed world, but the threat of a terrorist attack remains a big risk, according to terrorism…
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CRE Insurance
Employee stress big worry for European managers
Concern about psychosocial risks such as stress, violence and harassment is increasing in European organisations, according to the initial findings of the biggest workplace health and safety survey carried out…
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Captives
Last chance saloon for captive owners on Solvency II
FERMA has urged the owners of the 500–plus European captives to participate in the final consultation on the technical implementation of Solvency II that is currently underway.
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CRE Insurance
EU corporate governance reform announced
The European Commission said last week that it is considering an overhaul of corporate governance rules for financial institutions, according to news agency Dow Jones.
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CRE Insurance
Munich Re Chile loss upped $300m as sector capital concerns rise
Munich Re has increased its loss estimate from the Chile earthquake that struck in February to around US$1bn pre-tax and after retrocession.
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CRE Insurance
Gulf hurricanes threaten to escalate oil loss
The Deepwater Horizon oil rig, which sank approximately 41 miles off the coast of Louisiana in the Gulf of Mexico, will cost the insurance and reinsurance industry between $1.2bn and…
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CRE Insurance
Commission acts against Suez for alleged breach of seal
The European Commission has opened formal proceedings against French group Suez Environnement over an alleged breach of a seal affixed during an inspection by the Commission in April at the…
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CRE Insurance
Corporate round-up
The latest merger and acquisitions, new products and appointments from the European commercial insurance and service sector.
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Climate Change
Spanish market broke too early on ELD deadline
Over the past three years, Spanish companies have been busy preparing to meet the tough requirements of a new environmental responsibility law that transposes the European Liability Directive (ELD) in…
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CRE Insurance
Emerging risks and D&O top list of concerns: DVS
The apparent inability of the industrial insurance market to react to so-called emerging risks with innovative new covers was a hot topic of debate at last month’s annual general meeting…
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CRE Insurance
Buyers must prepare for leaner times ahead
First quarter results published by the biggest listed European insurance groups over the last two weeks suggest that corporate insurance buyers may have to steel themselves for a tougher period…
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CRE Insurance
Funnily enough, the FIFA World Cup could be bad for business…Comment
World Cup fever is here at last—which can only mean one thing. Yes, brokers will be making desperate plans to break into the South African insurance market, while risk managers…
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Association News
AIRMIC grows on back of eventful year
Paul Howard concludes his year as Chairman of AIRMIC at its conference in Manchester this month. The J. Sainsbury’s Risk Manager told Ben Norris how the association has developed during…
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Captives
Malta responds to Solvency II’s threat to its captive business
The Maltese captive management community is as threatened by Solvency II as any other in Europe. But, they believe that the Island’s PCC legislation in particular will help it tap…
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CRE Insurance
Beyond the crisis–lessons learned
A group of insurance company leaders and risk managers debated the key lessons to be learned from the recent economic and financial crisis and how best to cope with emerging…