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Asia
March 1, 2024
Asian countries face ‘moderate’ rise in insolvency risk
Allianz Trade expects most Asian countries to face a “moderate” increase in insolvencies this year, including China. As it released its Global Insolvency Report, the German insurance group’s trade credit…
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People Moves
March 1, 2024
Willis MGU Verita hires risk execs from Sompo
Verita CSG, WTW’s managing general underwriter unit, has hired Victor Sordillo and Glen O’Connor, formerly with Sompo International, to head up its risk advisory services. Sordillo was named director of…
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Market
March 1, 2024
Reinsurers applying brake to insurance market softening
The return of more stable reinsurance market conditions is easing pressure on the commercial insurance space. But with no softening in sight, the calming market may offer limited relief for…
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Legal & Regulation
February 29, 2024
Ferma says CSDDD rejection provides time to address ‘shortcomings’
The Federation of European Risk Management Associations (Ferma) has told Commercial Risk that news that the Corporate Sustainability Due Diligence Directive (CSDDD) has been formally shelved for now will provide…
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Marine
February 29, 2024
EU strikes deal on maritime safety
The European Council and Parliament have struck provisional deals in an effort to support clean and modern shipping in the EU. The Council presidency and European Parliament’s negotiators reached provisional…
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Legal & Regulation
February 29, 2024
European news publishers sue Google for €2.1bn in advertising claim
Google has been issued with a €2.1bn claim by a group of more than 30 European news media outlets seeking compensation for losses they say have been incurred because of…
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Africa
February 29, 2024
Africa Specialty Risks in parametric reinsurance partnership
Africa Specialty Risks (ASR) has formed a landmark parametric reinsurance partnership with a leading European reinsurer. ASR said the partnership will increase its coverage for vulnerable populations and economies in…
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Cyber & Technology
February 29, 2024
Increase in AI-targeted risk solutions expected but challenges for insurers
Artificial intelligence (AI) will continue to bring greater efficiency to many areas of the insurance process, and there will be an increase in AI-targeted risk solutions, but this does not…
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UK/Ireland
February 29, 2024
UK property market update; a changing risk picture
Macroeconomic challenges and concerns about climate change and severe weather patterns, as well as the need for companies to continue the drive towards net zero, are continuing to shape the…
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Cyber & Technology
February 29, 2024
New approach to AI risk assessment needed: Airmic
As many as 50% of UK organisations have not conducted artificial intelligence (AI) risk assessments, a survey of Airmic members has revealed. Data protection and intellectual property challenges emerged as…
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Employee Benefits
February 29, 2024
UK firms boosting employee support to meet cost of living crisis
Almost all UK employers surveyed by Towergate Health & Protection have either increased or intend to increase support to employees in response to the rise in the cost of living.…
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Market
February 29, 2024
Ryan Specialty targets more M&A as revenues and profits rise 20%
Ryan Specialty sees significant acquisition opportunities in the year ahead, including some large deals, the specialty brokerage’s top executive said on a call with analysts. The comments were made as…
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North America
February 29, 2024
MMC names Liston chief commercial officer in US and Canada
Marsh & McLennan has appointed David Liston as chief commercial officer in the US and Canada. He succeeds Susan Potter, who was appointed president of the US and Canada region…
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Legal & Regulation
February 28, 2024
CSDDD ‘back to square one’ as Council blocks legislation
The EU Corporate Sustainability Due Diligence Directive (CSDDD) has failed to achieve backing from the European Council and now looks very unlikely to proceed before European elections in June, throwing…
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Property
February 28, 2024
Greater optimism on global property renewals
Companies with excellent loss experience should feel a lot more optimistic going into their 2024 property insurance renewals, according to Gallagher Specialty’s Global Property Insurance Market Update Q1 2024. It…
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ESG Regulation
February 28, 2024
More progress needed on sustainability assurance, says GRI
New analysis has revealed the growing importance of sustainability assurance, but more progress is needed, according to Global Reporting Initiative (GRI). Analysis from the International Federation of Accountants (IFAC) found...…
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ESG Regulation
February 28, 2024
European Parliament agrees nature restoration law
The European Parliament has adopted a new law on nature restoration that sets a target for the EU to restore at least 20% of the EU’s land and sea areas…
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CRE Risk Management
February 28, 2024
Global insolvencies set to peak this year before levelling off, says Allianz
Global insolvencies continued to rebound last year and are now above pre-pandemic levels in most advanced economies, finds Allianz Trade, which expects further acceleration this year before stabilising in 2025.…
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CRE Insurance
February 28, 2024
Swiss Re calls for adaptation measures to tackle climate change
A new analysis of 36 countries and their exposure to climate change carried out by the Swiss Re Institute ranks the Philippines and the US as the most economically exposed…
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Cyber & Technology
February 28, 2024
Three-quarters of third-party breaches targeted software supply chain
Software supply chains were the target for 75% of third-party ransomware attacks last year, according to a global cybersecurity study by SecurityScorecard, which says cyberattackers are conducting mass exploitation of…