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Contingents are on the agenda as U.S. risk managers gather in Boston
Contingent commissions will be one of the key topics discussed at this year’s annual Risk and Insurance Management Society (RIMS) conference which will be held at the Boston Convention &…
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Captives
Malta consults on new ICC legislation
The Maltese Financial Service Authority (MFSA) has published a consultation paper for the market on its new legislation to allow the introduction of Incorporated Cell Companies (ICCs).
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CRE Insurance
Higher than average hurricane season predicted for U.S. and Caribbean
The respected Colorado State University's (CSU) Department of Atmospheric Science has issued an updated forecast of the 2010 Atlantic hurricane season that predicts an above-average season. The CSU anticipates an…
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FERMA launches pan-European survey
The Federation of European Risk Management Associations (FERMA) has formally launched a survey of European risk managers that it hopes will provide ‘authoritative and comparable’ information on the state of…
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Captives
Irish regulator promises fair and proportional approach for captives
Matthew Elderfield, Head of Financial Regulation at the Irish Financial Regulator, (FR) has promised captive owners that they will receive proportional treatment under Solvency II, in his domicile at least.
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CRE Insurance
Policyholders safe as provisional liquidators move in at Quinn
The Irish High Court has appointed joint provisional liquidators to Quinn Insurance Limited after a request was made by the Irish Financial Regulator (FR) for legal action. The Regulator said…
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CRE Insurance
Lloyd’s steps up Solvency II pace
Lloyd’s of London is to step up its effort to help the managing agencies that comprise the market meet the challenge of Solvency II and in particular ensure that they…
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CRE Insurance
U.K. insurers create new claims office to trace employers’ liability claims
The U.K. Association of British Insurers (ABI) has announced the formation of the Employers’ Liability Tracing Office (ELTO) to help claimants find the insurer of their former employer if they…
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CRE Insurance
CEIOPS claims ‘clear evidence’ of improved supervisory cooperation
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published its 2010 Report on the Functioning of Colleges (groups of insurance supervisors) that it claims provides ‘clear evidence’…
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Marsh concludes HSBC broker acquisition to add £130m in revenue
Global broker Marsh has completed its acquisition of HSBC Insurance Brokers Limited (HIBL), the wholly-owned subsidiary of HSBC Bank plc.
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CRE Insurance
Buyers and insurers unite against ‘extreme conservatism’ of CEIOPS Solvency II plans
[LONDON]—Pressure is fast building on the European Commission from insurance company and buyer representative groups to water down the advice given to it on Solvency II or risk forcing the…
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CRE Insurance
EC launches a new block exemption to cool reception
The European Commission has adopted a new Block Exemption Regulation (BER) for the insurance industry that comes into force on April 1 and only includes two of the previous four…
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CRE Risk Management
France’s plans to prevent technological risks are delayed
The implementation of mandatory plans to prevent the rise of technological risks in industrial sites in France is running later than expected, according to the French government.
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CRE Insurance
Chartis is a leading player but government-backed status bites-Comment
Employees of Chartis, AIG’s non-life operation, are of course sick to the back teeth of reading about their company in every newspaper and magazine they dare to open.
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CRE Insurance
Rival insurers turn on U.S. government as it ‘refuels’ AIG’s reserve
AIG’s recently announced asset sales and big reserve addition for Chartis sparked vigorous debate about the fairness of continued state backing for the company at the World Insurance Forum in…
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CRE Insurance
ECJ confirms onus on polluter to prove not liable in first ELD ruling
Italian petrochemical case clarifies polluters’ responsibility as EC mandatory insurance system unlikely for now.
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Association News
Risk management blossoming in Turkey
ERMA, the Turkish risk management association, was only founded last April but already the group has many of the country’s top companies as members, and ambitious plans to develop the…
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CRE Risk Management
Risk Governance Deficits report identifies ‘weak spots’ for corporates
Tony Dowding discusses the latest report from the International Risk Governance Council that provides a tool to assess, evaluate and manage private and public sector risk.
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CRE Insurance
Insurers call on regulators to recognise minimal systemic threat
A new Geneva Association report has added further evidence to support calls for the differential treatment between insurers and banks. Garry Booth reports.
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CRE Insurance
Landscape of risk is rapidly changing as energy sector searches further and deeper
The international oil and gas industry remains confident that it has a long and profitable future despite warnings from some quarters that reserves are rapidly dwindling and the best efforts…