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CRE Risk Management
Banks and corporates urged to learn same lessons from crisis
Tendency among risk managers in financial firms and corporates to think and talk differently about operational risk does not help, warn experts.
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Benelux
RIMS ‘pleased’ with Marsh announcement on contingents as debate builds in Europe
RIMS, the U.S. risk management association, has announced that it is ‘pleased’ that broker Marsh has decided not to accept contingent commissions for its core broking business in the U.S.
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Captives
Solvency II will kill soft market and slam captives warn carriers
Swiss insurance buyers agree with colleagues around Europe that pricing conditions for their core lines will remain stable for the foreseeable future as competition between insurers remains at a high…
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CRE Insurance
International academics push for outright ban on asbestos…again
The Collegium Ramazzini, an international academic society that specialises in occupational and environmental medicine, has issued a renewed call for a worldwide ban on asbestos.
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CRE Insurance
European Commissioners force pace on REACH requirements
European Commission Vice President Antonio Tajani, Commissioner for Industry and Entrepreneurship, and Janez Potočnik, Commissioner for Environment, last week urged business in the European Union to wake up to the…
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CRE Insurance
Talking cars hit the road in Europe
'Talking' cars were out and about on ordinary roads in Europe for the first time last week thanks to European Commission-funded research.
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CRE Insurance
S&P launches benchmark system to help insurance buyers compare performance
Credit rating agency Standard & Poor’s Risk Solutions is launching a series of Insurer Performance Benchmarks (IPBs) that begins with a comparison of Gross Loss Ratios designed to measure the…
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CRE Insurance
Lloyd’s reports record £3.9bn profit and vows to continue ‘hard slog’ in Europe
Lloyd’s of London, the international insurance and reinsurance marketplace, says it is determined to continue its efforts to break into the Continental European marketplace as it reported a record £3.9bn…
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Association News
AIRMIC warns Commission Solvency II ‘out of all proportion’
AIRMIC, the U.K. insurance and risk managers association, has added its weight to the growing opposition to Solvency II, Europe’s planned new capital adequacy system, as it currently stands.
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CRE Insurance
Industry leaders wary of the return of the wagging long tail
The news of the decision by AIG to boost its loss reserves for Chartis by $2.3bn in the last quarter of last year plus the prospect of rising inflation levels…
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CRE Insurance
Pricing discipline will help boost U.K. insurers earnings says Fitch
Fitch Ratings has revised its rating outlook on the U.K. non-life sector to stable from negative based on the credit ratings agency’s expectation that the sector's earnings will stabilise this…
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Association News
IRM and NORIMA confirm education initiative
The Institute of Risk Management and the Norwegian Risk Management Association, NORIMA, have announced a joint education initiative whereby NORIMA will promote the IRM’s qualifications to its members at a…
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CRE Risk Management
Alarm and IRM Team up on Risk Event
Alarm, the U.K. public risk management association, has entered into a joint initiative with the IRM in Northern Ireland to deliver a one day risk management event.
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CRE Insurance
Non-life rates could rise by up to 20% because of tougher Solvency rules says CEA
Pressure on the architects of Solvency II, Europe’s planned new capital adequacy regime for the insurance sector, to relax recently toughened proposals was ramped up last week as a number…
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Benelux
Association calls for automatic disclosure for Dutch brokers
The Dutch insurers’ association, the Verbond van Verzekeraars (NVV), has published a position paper on broker remuneration that calls for Customer Agreed Remuneration (CAR), a mandatory disclosure system, for non-life…
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CRE Insurance
Don’t panic over mandatory ELD prospect says ACE
Insurance buyers should not fear an E.U.–wide mandatory financial guarantee scheme for Environmental Liability Directive (ELD) coverage that could, in fact, increase the number of carriers in the market and…
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CRE Insurance
E.U. introduces two Directives to enhance worker rights and safety
The European Union adopted two Directives last week designed to improve worker’s parental leave rights and protect them from injury at work in the healthcare sector.
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CRE Insurance
Reinsurers say first quarter cats insufficient to turn market – just
As insurers and reinsurers worldwide continue to report strong 2009 full year results largely on the back of low catastrophe claims last year, this year’s cat claims are rapidly adding…
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CRE Risk Management
Russian insurance buyers may benefit from tougher licensing rules
The Russian parliament has proposed tighter licensing and merger regulations for the country's insurance industry, according to news agency Reuters.
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CRE Insurance
Insurers and buyers fear rash E.C. decision on mandatory environmental coverage
A European Commission report on the efficiency of the Environmental Liability Directives (ELD) is due next month and could recommend the adoption of an E.U. wide mandatory financial security scheme.…