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CRE Insurance
Torus swoops on Glacier subsidiary as deal flow steps up
Property casualty insurer and reinsurer Torus has acquired Glacier Insurance AG, a subsidiary of the Glacier group, subject to regulatory approval.
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CRE Insurance
Energy risk an increasing concern to business
Energy risks are of increasing concern to business and are now rated as big a risk as health and safety, according to energy supplier npower’s Business Energy Index, an annual…
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Association News
FERMA gives mixed reception to partial block exemption regulation
The Federation of European Risk Management Associations (FERMA) has welcomed the adoption of the new European Union insurance block exemption regulation (BER) that partially exempts insurers from normal competition law.
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CRE Risk Management
Non-executives need more risk oversight claims Moore at IRM
Further organisational crises are inevitable unless significant improvements are made to corporate culture, ethics and governance, Paul Moore, the whistleblower and former Head of Group Regulatory Risk at HBOS, told…
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Association News
IGREA prepares to add political role to fast-growing agenda
IGREA, the association of risk and insurance managers within Spain’s largest companies that was formed last year, plans to step up its lobbying effort now that the group has a…
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Association News
New law sparks risk management education boom in Poland
Demand for risk management expertise is booming in Poland, as a law passed last year to make the adoption of robust risk management systems in the public sector mandatory takes…
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Captives
White Rock launches PCC operation in Isle of Man
White Rock, the company owned by Aon that manages Protected Cell Company (PCC) facilities in Gibraltar, Guernsey, Luxembourg, Malta and Bermuda, has launched its latest operation in the Isle of…
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Aviation
Icelandic volcanic ash surprisingly not on risk radar says ISO’s Kevin Knight
Kevin W. Knight, Chair of the International Organization for Standardization (ISO) working group that developed the ISO 31000 risk management standard, finds it surprising that the recent Icelandic volcanic eruption…
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CRE Insurance
‘Risky’ gas a safe bet for European supplies says National Grid expert
Governments and industry should be mindful not to portray gas as a ‘risky’ energy source because, as security and supply is strong, this is at odds with the reality of…
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CRE Insurance
Commission and Parliament give assurance to buyers on Solvency II
Senior representatives of the European Parliament and Commission last week reassured insurance buyers that their concerns about Solvency II are being listened to and that pressure to ensure that captives…
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CRE Insurance
Mactavish’s Hepburn says worst is yet to come for Risk Managers
It is the beginning of the financial crisis for many risk and insurance managers who will experience a lag impact from the credit crunch, according to Bruce Hepburn, Chief Executive…
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CRE Risk Management
Risk managers must improve board information, says broker
Risk managers must focus their efforts on the production of key pieces of management information and ensure that their risk profile is aligned to the issues, challenges and decisions that…
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CRE Insurance
Insurance sector has key role to play in energy market recovery says Aon
The energy industry is at a pivotal point in its recovery, following an extremely challenging operating environment during the global financial crisis, with demand starting take off and projects that…
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CRE Insurance
Bermuda requests buyers support as ABIR states case for equivalence in Brussels
The Bermuda insurance and reinsurance market has stepped up its campaign to gain early recognition by the European Commission as an equivalent non-European country that would enable Bermuda companies to…
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CRE Insurance
Positive news from CEIOPS as capital charges softened
The European insurance industry appears to have made some headway in its ongoing effort to persuade regulators and politicians that the recent credit crisis does not justify a severe increase…
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CRE Insurance
ACE expands environmental offering
ACE U.K. has launched a new environmental insurance policy called Environmental Protect policy that offers coverage for small to medium sized and multinational companies and includes coverage for the European…
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CRE Risk Management
U.K. insurance buyers face disappointment over contract law reform
The U.K. Law Commission is unlikely to recommend the extension of the recent reform of insurance contract law that significantly reduces the burden of disclosure on policyholders to the commercial…
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CRE Insurance
Health Commissioner announces new animal welfare plan
John Dalli, the recently installed Member of the European Commission responsible for Health and Consumer Policy (DG Sanco), has revealed details of a new European Union Animal Health Law and…
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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).