-
ESG
April 12, 2024
European Parliament adopts framework for carbon removals
As the EU council attempts to placate business concerns about the pace of the energy transition while keeping progress roughly on track, the European Parliament has adopted a provisional political…
-
Aviation
April 11, 2024
Relatively stable conditions for airline insurance market, says Gallagher
While uncertainty persists for the airline insurance market and challenges remain, for now, market conditions are relatively stable and will continue this way in the short term, according to Gallagher…
-
Captives
April 11, 2024
Baron sees bright future for Asia-Pacific captives
The newly created Captive Insurance Association Singapore (CIA) has now been officially formed, its membership drive is underway and founding members are already looking at options to create equivalent bodies…
-
Trade Credit
April 11, 2024
Allianz Trade UK and Ireland broadens trade credit policy
Allianz Trade has updated its UK and Ireland trade credit product to broaden standard cover and simplify the wording. The new wording and coverage will kick in immediately for any…
-
CRE Legal Regulation
April 11, 2024
EU promises action on regulatory burden in clean transition effort
Europe’s risk and insurance managers’ regulatory burden and the inability of the insurance market to come up with adequate solutions needed to support the green transition come out as top…
-
GRM People Moves
April 11, 2024
Aon names new head of global benefits
Mike Pedel has been named head of global benefits at Aon and will lead the global benefits team effective immediately. Pedel will be based out of London and report to…
-
North America
April 11, 2024
US introduces law to protect drinking water from PFAS pollution
The US government has issued the first-ever national, legally enforceable drinking water standard to protect communities from exposure to harmful per- and polyfluoroalkyl substances (PFAS), also known as ‘forever chemicals’.…
-
North America
April 11, 2024
NAIC adopts national climate resilience strategy for insurance
The US National Association of Insurance Commissioners (NAIC) has adopted the first-ever NAIC national climate resilience strategy for insurance to protect the US property insurance market. The strategy was developed…
-
Asia
April 11, 2024
Fenchurch law to ‘level playing field’ for policyholders in Singapore
Fenchurch Law, the leading UK law firm that works exclusively for insurance policyholders and brokers, will offer its specialist legal support outside of the UK for the first time, announcing…
-
Association News
April 11, 2024
Eight university teams compete in Spencer-Rims challenge
Students from eight university teams will compete at the upcoming Rims annual RISKWORLD conference in San Diego for the 2024 Spencer-Rims Risk Management Challenge top honour. The winning team will…
-
Asia
April 10, 2024
India private-sector general insurance market grew 17.5% in FY2024
Private sector general insurers in India grew twice as fast as their state-run rivals for the financial year ended 31 March 2024 (FY2024), according to preliminary data released by the…
-
ESG
April 10, 2024
Zurich to announce exit from fossil fuel underwriting
Zurich Insurance is expected to shortly announce its decision to cease underwriting new oil, gas and metallurgical coal projects, in what would represent a major victory for action groups that…
-
France
April 10, 2024
Aggressive underwriting and rising losses blamed for French local government insurance crisis
A new parliamentary report has blamed overly aggressive strategies from a dominant insurer that led to high market concentration, combined with rising losses from nat cats and civil unrest, for…
-
GRM People Moves
April 10, 2024
New head of accident and health at Arch Insurance International
Arch Insurance International has promoted Sebastian Terry to head of accident & health (A&H). In his new role, Terry is responsible for managing the underwriting activities across Arch’s A&H portfolio.…
-
Geopolitical
April 10, 2024
Political risk concerns highest level for seven years, warns Allianz Commercial
Global businesses are more concerned about political risk and violence than they have been for many years, in an unprecedented 12 months for elections that will have far-reaching consequences for…
-
ESG Litigation
April 10, 2024
Climate change victory in European Court of Human Rights
The European Court of Human Rights has ruled in favour of a group of older Swiss women who claimed they were at risk of dying from heatwaves as a result…
-
Cyber & Technology
April 10, 2024
Airmic calls for debate on managing AI ethical risks
UK risk management association Airmic has called for more discussion about how best to manage specific ethical risks created by artificial intelligence (AI) and steer organisations through a series of…
-
Reinsurance
April 10, 2024
Robust earnings will help rein in reinsurance price hikes through 2024
A rebound in reinsurance industry capital, prompted by strong reinsurer earnings, should help keep reinsurance pricing in check during 2024 renewals, according to sources and recent industry reports. Bolstered by…
-
CRE Insurance
April 9, 2024
Algorithmic underwriting set to boost options for corporate buyers
The adoption of algorithmic underwriting will increase competition and reduce frictional costs for commercial and specialty risk transfer, technology experts at WTW told Commercial Risk. As the digitisation of the…
-
Reinsurance
April 9, 2024
Reinsurance prices ‘peaked’ ahead of next round of renewals, says Berenberg
Reinsurance prices are likely to have peaked, according to analyst Berenberg, but strong levels of demand for protection will balance any deterioration in rates. Berenberg analyst Tryfonas Spyrou said risk-adjusted…