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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…
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CRE Risk Management
February 28, 2024
Top UK firms increase women leadership roles to 35%
The UK’s largest businesses have been urged to “double-down” on redressing gender balance, with just two years remaining to increase the current level of women in leadership roles in FTSE…
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CRE Risk Management
February 28, 2024
German study finds greater operational safety needed with photovoltaic systems
Leading independent German broker Funk has warned that the worrying rise in the number of cases of damage to photovoltaic systems on industrial buildings is being driven by operators of…
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ESG Other News
February 28, 2024
Online retailer Zalando commits to remove misleading environmental claims
Online German retail firm Zalando has committed to removing misleading sustainability flags and environmental icons displayed next to products offered on its platform, following dialogue with the European Commission and…
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Cyber & Technology
February 28, 2024
Cyber vulnerabilities to rise 25% in 2024, warns Coalition
The number of cyber vulnerabilities globally is predicted to jump by 25% in 2024, according to US-based cyber insurer Coalition, to total 34,888 vectors for both cyberattackers to exploit and…
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Cyber & Technology
February 27, 2024
Munich Re urges European politicians to back cyber pool
Munich Re has urged policymakers in Europe and Germany to throw their weight behind a state-funded backstop for systemic cyber risks, and called on governments to make certain risk management…
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Risk Management
February 27, 2024
NGO sector records spike in health and security risks, warns International SOS
Risks faced by workers at non-governmental organisations (NGOs) in conflict zones and areas affected by natural disasters are “rapidly escalating”, according to security expert International SOS, as it published guidelines…
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Market
February 27, 2024
P&C reinsurance dents Munich Re’s profits but ERGO performs well
Munich Re’s profit fell 13.4% last year to €4.58bn, despite improved performance at its primary unit ERGO, as P&C reinsurance profits fell 28.5% to €2.45bn, after a 63.6% fall in…
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UK/Ireland
February 27, 2024
Mothers Rise Up stages fossil fuel protest outside Lloyd’s
Climate action group protestors have urged Lloyd’s to cease insurance for new fossil fuel projects, and called for a “fair and rapid phase-down and out of existing fossil fuel projects…
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Construction
February 27, 2024
WTW launches Bermuda excess casualty construction facility
A Bermuda excess casualty construction facility has been launched by WTW, tailored to meet the needs of clients in the North American market. The new facility offers an enhanced range…
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Cyber & Technology
February 27, 2024
Beazley highlights global cyber regulatory changes
The Portuguese Insurance and Pension Funds Supervisory Authority has recently declared that insurance contracts indemnifying the ransom payment associated with cybercrimes are not legally permissible, due to violation of Port...…
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Cyber & Technology
February 27, 2024
LockBit relaunches after crime agencies infiltrate its systems
Major ransomware gang LockBit has staged a return just a week after it was taken down by a coalition of crime agencies from the US, UK, Europe and elsewhere. Publishing…
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Asia
February 27, 2024
Hong Kong pushing for further captive and ILS growth
The Hong Kong Insurance Authority (HKIA) is stepping up its efforts to firmly establish the territory as a leading centre for captives and Insurance Linked Securities (ILS) in Asia, as…