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CRE Insurance
Irene loss estimates up to $6bn
Modeling firms have estimated that the insured losses from US Hurricane Irene will be between $3bn and $6bn.
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CRE Insurance
Mega loss of $75bn needed to turn this market—Fitch
Fitch Ratings said this week that the profit outlook for the global reinsurance industry remains ‘uncertain’ because of the continued pressure on investment income, still stubbornly flat prices and ‘dwindling’…
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Benelux
Amlin ‘bloodied…but unbowed’ but must sort Benelux business-analyst
Amlin, the London-based specialist corporate insurance and reinsurance group, needs to ‘sort’ Amlin Corporate Insurance (ACI), the continental European business it acquired from Fortis back in 2009 to help win…
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CRE Risk Management
EU rules threaten haulage industry with business continuity risk says insurer
If truck drivers fail to comply with new EU regulations there is a serious prospect of a breakdown in the distribution and supply chain that could leave shop shelves bare…
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Climate Change
Environmental risk-insured or not?
Last year an International Underwriting Association report analysed the impact of the Environmental Liability Directive (ELD) and assessed the capabilities of different classes of liability business to provide environmental cover.…
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Captives
CRE seminar to tackle the likely affects of Solvency II on captives
With solvency II looming, Commercial Risk Europe is running a seminar in Frankfurt to help Europe’s risk and insurance managers get the latest in-depth analysis of what the regulatory regime…
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Asia
Talanx targets international expansion despite delays to IPO
Even without its long-awaited initial public offering (IPO), German industry-controlled mutual Talanx has embarked on a series of international expansion moves that includes the acquisition of a 25% stake in…
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CRE Insurance
Brazilian reinsurer aims at global player status and defends new rules
The largest reinsurance company in Brazil, IRB Brazil Re, wants to expand its reach outside of the country’s borders and become a player in the global market, according to the…
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CRE Insurance
Loss estimates for largest Virginia quake in a century under $100m
The earthquake that struck Virginia on Tuesday was the largest to strike the US state in more than a century, but initial insured loss estimates from modeling firm Eqecat suggest…
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CRE Insurance
Corporate round-up
Lancashire Holdings shareholders vote for new shares issue and UK-friendly structure, ACE adds to UK environmental team, PwC appoints Simon Chard to Commercial Assurance team and ACE and Willis in…
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CRE Insurance
US P/C industry suffers $27bn cat losses in H1 2011-AM Best
At an estimated $27bn the US property/casualty industry has suffered more catastrophe losses in the first half of 2011 than in all of the preceding year, according to an AM…
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CRE Insurance
Brit warns of new risks for UK law firms in light of regulatory changes
With many medium and large law firms likely to diversify the range of services they offer following a relaxation of regulations, Brit Insurance has warned of the challenges faced when…
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CRE Insurance
African free trade zone offers hope to global programme buyers
Risk managers in Europe and worldwide that have rising commercial interests in Southern and Eastern Africa should welcome a recent proposal for the creation of a free trade zone for…
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CRE Insurance
New Ergo policy aimed at victims of violence gets cool reception
Düsseldorf-based insurance company Ergo has developed a new insurance policy that will provide quick psychological counselling for employees of companies who have been traumatised through violence or accidents. Although Ergo…
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CRE Insurance
Loss estimates rise for UK riots as business counts the cost
Estimated insured losses from the riots and civil unrest that took place in the UK last week are on the rise, with the Association of British Insurers (ABI) having upgraded…
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Benelux
Corporate round-up
New Marsh service aims to help small law firms obtain ‘reasonable’ PI cover, New product protects construction firms against bad weather, Ace adds to UK Accident and Health team and…
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CRE Insurance
Terror threat remains high with pricing still competitive
Despite the war on terror the number of global terrorist attacks remains at historically high levels with the threat shifting to softer targets and becoming more localised in nature, according…
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CRE Insurance
M&A activity amongst P/C insurers remains stifled-Guy Carp
Mergers and acquisitions (M&A) amongst property and casualty (P&C) insurers in 2011 remains stifled as macroeconomic conditions and a potential turn in the insurance market have restricted interest in such…
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Climate Change
CRE’s Environmental Liability Directive report-click here
We bring you Commercial Risk Europe’s report on the Environmental Liability Directive (ELD), the newly introduced pan-European ‘polluter pays’ environmental legislation. This report, sponsored by Chartis, takes a look at…
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CRE Insurance
Rates under pressure and insurers need to tackle contingent losses
To paraphrase Bob Dylan, ‘a hard market’s a-gonna come’. Isn’t it? After the first quarter of 2011 with its string of natural catastrophes, following years of soft market conditions, it…