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Association News
Progress made on global programmes industry database
The effort to create a global database to help risk managers ensure that their global programmes are compliant took some steps forwards towards the end of September during a meeting…
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CRE Insurance
Admin fees for international D&O programmes on the way warns broker
German brokers will start charging administrative fees for internationally focused D&O programmes as administration costs grow, according to a leading broker. Georg Bräuchle of Marsh's German management team also noted…
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CRE Insurance
IUMI conference tackles piracy and poor insurer results
The growing threat of piracy as well as persistently poor insurer technical results were among the subjects discussed at the annual conference of the International Union of Marine Insurers, IUMI,…
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CRE Insurance
German market under pressure from poor investment returns says S&P
German insurers are under pressure from reduced investment returns as the financial markets provide a big test for the industry, but these conditions have not yet led to an increased…
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CRE Insurance
ABI guidance on exec pay and boardroom effectiveness met with approval
The Association of British Insurers’ (ABI) new guidance on executive pay and effective boardroom performance, which includes recommendations for board diversity and a refusal to reward failure, has been generally…
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CRE Insurance
Corporate round-up
Marsh appoint Waterer as Head of Risk Consulting in UK and Ireland, XL extends Nordic upper mid market offering, Marsh and AAIB set up oil rig facility, Zurich launches online…
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CRE Insurance
French insurers ‘to seek compensation’ if banks are bailed out
An insurance association in France has threatened to fight for compensation if French banks are the subject of a bailout package by its government.
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CRE Insurance
London remains number one global financial centre but gap closes
London remains the number one global financial centre, followed by New York and Hong Kong, but the gap is closing, according to the latest and tenth addition of the Global…
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Jorge Luzzi elected President of Ferma
Jorge Luzzi, Group Risk Management Director for Pirelli worldwide, has been elected as the next president of the Federation of European Risk Management Associations (Ferma).
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CRE Insurance
Lloyd’s suffers £697m loss after battering from nat cats
Lloyd's has announced losses of £697m (€774m) and a combined ratio of 113.3% for the first six months of 2011 on the back of what it described as unprecedented levels…
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CRE Insurance
German managers need better D&O protection as litigation mounts
German managers are demanding better protection from their D&O policies as the trend for companies to sue their management continues, according to one of the managers accused in the corruption…
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Maltese and Slovenian risk management associations join Ferma
Ferma this week announced that the risk management associations of Malta and Slovenia have been accepted as its latest members. With their addition the total number of countries whose risk…
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CRE Insurance
Corporate round-up
Torus acquires Lloyd’s Broadgate, Willis Argentina hires new CEO, Consortium announce acquisition of Whittington UK from the Whittington Group and XL expands in UK mid-market.
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Benelux
Dutch insurance sector outlook stable says Fitch
The outlook for the Dutch insurance sector is stable, according to Fitch, with the vast majority of Dutch insurer ratings likely to be affirmed over the next 12 to 24…
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Aviation
Risk manager takes top role at Willis Global Aerospace
Willis has announced the appointment of ‘risk management expert’ Mark Wilford, Director of Risk at Rolls-Royce Group, as chairman of its Global Aerospace division.
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CRE Insurance
Increased focus needed on solar energy risk says IMIA
Risks faced by solar energy installations are on the rise as they attract the attention of organised gangs looking to loot the expensive materials used in their construction. Combined with…
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CRE Insurance
Insurers and buyers must meet halfway to spark unfit CBI market
In order for the insurance industry to supply fit for purpose contingent business interruption (CBI) cover risk managers must provide more transparency on their supply chains and general business models,…
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CRE Insurance
Low interest rate biggest shock to insurance industry that must adapt
The record low interest rate environment, rather than the recent spate of natural catastrophes, has caused the biggest shock to the risk transfer industry, according to Swiss Re. With these…
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CRE Insurance
Jeworrek says CBI cover must change and urges risk managers to up efforts
Torsten Jeworrek, member of Munich Re's Board of Management and Chairman of its Reinsurance Committee, has warned that for severe catastrophe events contingent business interruption (CBI) policies must undergo change…
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CRE Insurance
How to sell a risk-Comment
The Kiwis (New Zealanders), as anyone who has had the ‘pleasure’ of playing rugby against them will attest, do not tend to mess around and overcomplicate things. If something needs…