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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…
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CRE Insurance
Access to oil remains number one worry for energy managers
The availability of oil and gas resources is the number one risk to the oil industry according to a poll of delegates carried out at Marsh’s National Oil Companies conference…
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CRE Insurance
Insurance market up for the challenge—at a price
Insurers and reinsurers are constantly criticised by insurance buyers for failing to meet new risks presented by rapid technological change. The energy sector is a good example as it undergoes…
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CRE Insurance
Steady as she goes-Axel Theis
Axel Theis, CEO of Allianz Global Corporate & Specialty, has managed a remarkable turnaround in the German group’s large corporate risk operation since his appointment in 2006, and last year…
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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…