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CRE Insurance
Flight to price over quality is harming both buyers and carriers warns insurer
With an increasing trend towards commoditisation in the commercial insurance sector, a leading insurer has warned that the procurement process is too heavily dominated by price and leaves the risk…
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CRE Insurance
German insurers open their books for offshore wind farms
In good news for German companies running wind farms in the open sea, German insurers can now supply more of the cover urgently needed to set up and operate these…
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Association News
Maltese association to spread risk gospel on Island
The Maltese Association of Risk Management (MARM), one of Ferma’s two newest members, needs to raise the awareness of risk management on the Island and hopes that membership of the…
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CRE Insurance
AIR Worldwide updates terrorism model for the US
AIR Worldwide had released an update to its terrorism model for the US to reflect the likelihood of less frequent and less severe attacks in the country.
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CRE Insurance
Time for insurers to stand and deliver on Solvency II says its chief architect
Karel van Hulle, Head of the insurance and pension division at the European Commission, has warned that the time for talk and compromise over Solvency II is over and that…
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Association News
Risk managers best beware of market in transition says Amrae study
A study of insurance market trends by Amrae has concluded that insurers are likely to become ever more focused on technical results and that the current soft cycle is nearing…
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CRE Insurance
European non-life market flat or softening but challenges mount—AM Best
The European non-life insurance sector faces a number of challenges in the form of continued economic weakness, volatile investment markets, sovereign debt concerns, the low interest rate environment, inflationary threat…
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CRE Risk Management
EU firms lagging behind global competitors on innovation
Top European firms are lagging behind their global competitors when it comes to investment in innovation, research and development, according to latest figures from the European Commission.
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CRE Insurance
Lockton plugs gap in South Africa with creation of new brokerage
US-based international corporate insurance broker Lockton has found a replacement for Alexander Forbes, its former partner in Southern Africa that was recently bought by Marsh, in the form of a…
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CRE Insurance
Risk culture a ‘work in progress’ within most insurers finds IRM survey
The rise of Solvency II and the inclusion of analysis of enterprise risk management practices by the credit rating agencies within their rating methodology has sparked a higher interest in…
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CRE Insurance
Reserve adequacy a concern in UK Company and London markets-AM Best
There are growing concerns over the adequacy of reserves in the UK non-life Company and London markets, according to AM Best.
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CRE Insurance
Regulatory investigations continue to rise as staff get happy with their whistles
Research from a leading US and global litigation law firm has confirmed what most European risk and insurance managers instinctively know already, that regulatory investigations are on the rise, whistleblowers…
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CRE Insurance
Growth economies take centre stage in new financial world order, survey says
There has been a shift in the global financial landscape with growth economies around the world such as Asia and Latin America increasingly taking centre stage as sources of business…
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CRE Insurance
S&P concerned over capital levels of global multiline insurers
S&P is concerned about the capital adequacy of global multiline insurers (GMI) with adverse investment market conditions putting financial strength ratings to the test.
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CRE Insurance
S&P lowers Mapfre and core subsidiaries’ ratings
S&P has lowered the insurer financial strength and long-term counterparty credit ratings on Mapfre SA and core subsidiaries to ‘AA-‘ from ‘AA’ on the back of its lowering of Spain’s…
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CRE Insurance
Piracy at record high but Somali hotspot sees reduction in success rate
Piracy is at a record high in 2011 but an increased number of attacks by Somali pirates, the main perpetrators of activity, are being thwarted thanks to improved anti-piracy measures,…
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CRE Insurance
Protection offered to fund directors as policing environment gets tough
Willis has launched a product that aims to offer liability protection to investment fund directors following a recent landmark case that saw damages reach $111m, and in preparation for a…
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CRE Insurance
Zurich opens global programme database as rivals frosty on industry effort
Zurich Global Corporate has told Commercial Risk Europe that it is ‘fully supportive’ of the effort by European risk managers led by Ferma and Airmic to deliver an industry-wide standard…
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Association News
Den Dekker warns insurers he will not give up on global programmes plan
As insurers gave a mixed reception to Ferma’s call for an industry-wide standard and database for global programmes during the federation’s forum last week, Peter den Dekker, outgoing President of…
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Association News
Solvency II could increase systemic risk and stifle innovation warns panel
The Solvency II Directive could fuel a herd mentality among insurance companies and increase systemic risk by promoting the widespread use of investment models, risk managers were told during the…