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CRE Insurance
Further tests lie ahead for French insurance industry
The resilience of the French insurance industry will be further tested in the next two years on a variety of fronts including low interest rates, Solvency II and lower technical…
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CRE Risk Management
Risk managers unclear about major cyber crime risks says Miller survey
UK risk managers questioned in a survey at this year’s Airmic conference by insurer Miller wrongly assumed that loss or theft of customer data was the mostly costly cyber crime…
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CRE Insurance
UK regulator to differentiate insurance risks as Solvency II start questioned
Insurance regulation in the UK under the Prudential Regulation Authority (PRA) will be ‘forward looking’, recognise the different risks posed by the industry than banks and focus on policyholder protection,…
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CRE Insurance
German motor insurers anger buyers with mid policy price hike demands
German risk managers are angry over the practice of at least four German motor insurers who have attempted to impose price rises on industrial customers during the life of their…
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CRE Insurance
Corporate round-up
EIOPA’S stakeholder groups elect new Chair and Vice Chair and Catlin Re Switzerland opens Madrid office and adds senior underwriter.
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CRE Insurance
US tornado losses approach $20bn and add to pricing pressure-analyst
Global losses from the tornadoes that struck the US in April and May are approaching $20bn and will add to pressure for a rating turn, at least on US property…
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CRE Insurance
CBI underwriters failing to price and reserve risk correctly says JLT
Highlighted by the recent Japan earthquake and subsequent Tsunami underwriters are failing to properly rate and reserve contingent business interruption (CBI) business, according to Peter Hacker, Partner Global Head, CTM…
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CRE Insurance
Deepwater’s Transocean and Macondo Well owners wrangle over insurance
The insurers of Transocean Ltd sunken Deepwater Horizon drilling rig have asked a federal judge to decide whether BP and fellow owners of the Macondo Well are ‘additional insureds’ under…
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CRE Insurance
Reinsurance capital down 6% at end of Q1
Total global reinsurance capital fell by 6% to $440bn by the end of the first quarter of 2011, down from $470bn at the turn of the year, according to Aon…
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Captives
Experts back Guernsey’s decision not to seek Solvency II equivalence
Guernsey-based insurance practitioners, as well as experts who operate predominantly outside of the jurisdiction, have backed the island’s decision to not seek equivalence under Solvency II.
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CRE Insurance
German risk managers back Mitsui Sumitomo expansion plans
German risk managers fully support plans by Asian insurer Mitsui Sumitomo to establish a new risk carrier in Germany and its attempt to grow in Europe. “It is a positive…
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Benelux
EU more risky than ever for chemical users
Chemicals have always posed a risk. Yet in the past few years they have become far riskier, in business terms, as companies have had to begin proving that the substances…
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Association News
Agers congress hears of reinsurance rate hike and penal code clarity
Spanish risk managers were told to expect a hardening of reinsurance prices and more limitations on their natural catastrophe coverages as a result of the accumulation of natural catastrophes in…
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CRE Insurance
BI and supply chain products ‘not fit for purpose’ claims Marsh’s Davies
Risk management at large FTSE 350 companies is shifting away from predominantly pre-event risk identification type approaches to post-event reaction and resilience strategies, George Davies, UK Leader of Marsh’s Risk…
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Climate Change
UK EIL market slower than expected but demand set to rise: Underwriters
Environmental liability has been shoved up the corporate agenda recently in the UK following the transposition of the European Environmental Liability Directive in 2009 and the arrival of the Environmental…
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CRE Insurance
CEA figures show non-life written premium up for first time in two years
Non-life gross written premiums were up 4% in 2010 to €428bn within CEA member countries, according to preliminary figures from the insurance and reinsurance association. It is the first time…
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CRE Risk Management
Regulation and compliance top global risk but double dip feared in UK-report
Regulation and compliance, cost-cutting and managing talent represent the top risks faced by global business, according to a recent Ernst & Young report. It also found that fear of a…
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CRE Insurance
Monday’s Christchurch earthquake loss estimate up to $5bn
An earthquake that hit the already stricken New Zealand city of Christchurch on Monday is expected to cause $3bn to $5bn in insured losses, according to EQECAT.
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Time for radical thinking?
In May Commercial Risk Europe held a lively seminar on global programmes in London and all parties agreed that industry cooperation is needed to try and improve this critical tool.…
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Association News
Narim Conference: Risk managers told to step up reputation efforts
Reputational risk is higher than ever on the corporate agenda and its threat to industry on the increase as society evolves and stakeholders become ever more powerful, according to experts…
