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Association News
Agers conference told premium prices will be kept in check at renewals
There is no hard market on the horizon for Spanish insurance buyers as the effects of sluggish economic growth in the country combined with an abundance of capital and strong…
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Association News
French PM announces new nat cat scheme to reward mitigation
French Prime Minister François Fillon has announced that a bill will be presented before the end of the year to reform the country's natural catastrophe compensation scheme. The goal is…
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CRE Risk Management
IRM conference told profession must break free of finance function shadow
Business and risk management must avoid falling completely under the spell of the finance department, keynote speaker Anthony Hilton, Financial Editor of the London Evening Standard told attendees at the…
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Climate Change
Insurers must act to help stop climate change urge experts
The international insurance industry needs to step up efforts to tackle climate change according to market experts following the publication of the latest report from the International Panel on Climate…
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CRE Insurance
Euler Hermes reports credit rates down but promises to stand firm
Leading credit insurers continue to benefit from the boost in demand and significantly higher price of trade credit insurance following the economic downturn as Euler Hermes posted another healthy set…
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CRE Insurance
AM Best places Generali under review as Italian crisis drags on
Italian corporate risk and insurance managers received bad news this week as rating agency AM Best placed the financial strength rating of A+ (Superior) and issuer credit rating of ‘aa-’…
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CRE Insurance
US Treasury vows to defend itself against Greenberg suit
A senior US Treasury Department official told The New York Times this week that the government would ‘vigorously’ defend itself against a lawsuit filed by former AIG CEO Hank Greenberg…
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Captives
Bernardino urges caution on proportionality under Solvency II
Gabriel Bernardino, Chairman of the European Insurance and Occupational Pensions Supervisory Authority (EIOPA), yesterday poured cold water on the idea that the principle of proportionality enshrined within Solvency II may…
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CRE Insurance
High cats and low investment yields key to market conditions
A rising ‘tsunami’ driven by a combination of low asset yields and high catastrophe losses suffered by the leading insurers and reinsurers is more likely to force a hardening in…
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Ferma fleshes out hopes for Brazilian reinsurance laws
Ferma has released concrete details of its recommendations to the Brazilian insurance regulator, Susep, that it hopes will limit the impact of two unpopular reinsurance regulations in the South American…
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CRE Insurance
Insurance restrictions coincide with higher workplace-related risk in France
French companies face the prospect of more restrictions to civil liability insurance policies at the very time they are becoming more exposed to workplace risk and face higher indemnifications as…
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Climate Change
EC attempts to address concerns of buyers over ELD
The European Commission will produce more guidance and further develop practical risk assessment methods to speed up the implementation of the Environmental Liability Directive (ELD) and address concerns of risk…
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CRE Insurance
German companies focus on employee health cover but market limited
Although German companies are increasingly looking to provide health care cover for employees in order to attract the best staff, few private health insurers have developed specific products aimed at…
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CRE Insurance
Den Dekker takes new role at telecommunications giant
Peter den Dekker will shortly leave Stork to join VimpelCom, one of the world’s biggest telecommunications groups, as insurable risk manager. Meanwhile Daimler appoints a new insurance manager.
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CRE Insurance
Corporate round-up
ACE adds to UK Technical Risks team and Manwaring joins QBE as UK Surety Manager.
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CRE Insurance
Energy market still favourable but change may be on the way says Marsh
Whilst excess capacity and continuing competition among insurers mean that buying conditions remain favourable for many energy firms in the final quarter of 2011, Marsh has warned that for some…
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CRE Insurance
Politics matters-Comment
Regulation and politics seem to be currently driving the European and global corporate risk and insurance management agenda more than ever and this is not a good thing because politics…
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Association News
Cooperation needed to drive innovation and solve supply chain dilemma
As insurance and reinsurance buyers across Europe call on brokers, insurers and reinsurers to provide more innovation, and offer broader-based business interruption (BI) cover in particular, experts at Ferma’s Forum…
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Association News
Buyers still hold the upper hand but market in transition
Despite insurers continued protestations, buyers of commercial insurance remain in a strong position with rates stable or falling in most lines of business and an abundance of capital suggesting there…
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CRE Insurance
Reinsurers talk down prospects of big market turn at year end in Baden-Baden
Despite pressure on margins caused by huge catastrophe losses, lowly investment returns and interest rates, fast-dwindling spare reserves and big concerns about the state of the European financial markets, there…