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Cyber & Technology
December 21, 2023
Supply chain cyber security ‘without doubt’ biggest challenge, says Marsh
Supply chain security is the biggest challenge for cyber insurance buyers, said Marsh in a recent media briefing in London, when it also predicted rates will continue to fall next…
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Risk Management
December 21, 2023
Ferma sets out priorities for greater strategic risk management focus
The interconnectedness of supply chain risks and emerging threats from AI should be top priorities for Europe’s risk managers, says Ferma in a new white paper published with Marsh. Companies…
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Legal & Regulation
December 21, 2023
Exeter University loses appeal for unexploded Luftwaffe bomb
The UK Court of Appeal has handed down judgment in the case of The University of Exeter v Allianz Insurance Plc [2023] EWCA Civ 1484, finding in favour of insurers…
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Association News
December 21, 2023
Anra announces winners of first Italian risk management awards
Italian risk and insurance management association Anra has announced the winners of its first awards designed to celebrate the excellence of risk and insurance management in Italy. Anra said that…
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Legal & Regulation
December 21, 2023
EU fails to tackle AI risk with PLD, claims Irish NGO
Despite sharp criticism from the European business community for being too harsh and opening up the potential for potential mass litigation, the EU’s proposed revision of the Product Liability Directive…
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M&A
December 21, 2023
$13.4bn NFP deal set to sharply expand Aon’s middle-market business
Aon’s proposed $13.4bn purchase of NFP Corp will significantly expand its middle-market business, particularly in employee benefits, and enable it to grow more rapidly, observers say. The deal will also…
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Clyde & Co
December 21, 2023
Insurance 2024: The year ahead, according to Clyde & Co
Market predictions from Clyde & Co partners around the world include: Greenwashing litigation to increase as mandatory reporting comes into effect The number of greenwashing litigation cases will continue to…
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ESG
December 21, 2023
European Council agrees negotiating mandate on ESG ratings
The European Council has reached an agreement on its negotiating mandate for a proposed ESG rating regulation, to try to boost investor confidence in sustainable products. Europe’s risk and insurance…
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UK/Ireland
December 21, 2023
US parametric (re)insurer to launch Lloyd’s syndicate in 2024
US based parametric re/insurance group NormanMax Insurance Holdings has received ‘approval in principle’ from Lloyd’s to launch a syndicate in 2024, focused on natural catastrophe parametric re/insurance products. NormanMax Syndicate…
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Captives
December 21, 2023
Bermuda passes corporate income tax legislation
Bermuda’s corporate income tax legislation has been passed by its Senate without amendment, according to local newspaper the Royal Gazette. The Corporate Income Tax Act is scheduled to take effect…
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Cyber & Technology
December 21, 2023
EU states agree common position to strengthen cybersecurity
EU member states’ representatives (Coreper) have reached a common position on the so-called ‘cyber solidarity act’ that is designed to strengthen the EU’s capacity to detect, prepare for and respond…
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People Moves
December 21, 2023
AXA XL appoints chief claims officer for APAC and Europe
AXA XL has named Julijana Sumner as chief claims officer for APAC and Europe. Sumner joined AXA XL in 2012 and will move from her current role as head of…
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Aviation
December 21, 2023
Aircraft firms settle with Russian insurer over stranded jets
Leasing firm Dubai Aerospace Enterprise (DAE) has reached a $118m settlement with Aeroflot’s insurer over seven aircraft it had leased to the Russian airline that were stranded after Russia invaded…
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CRE Legal Regulation
December 20, 2023
Ferma welcomes political agreement on Solvency II
Ferma has applauded the efforts of the Spanish Presidency of the Council of the EU, the European Council and the European Parliament for reaching a provisional agreement on the amendments…
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Marine
December 20, 2023
War risk rates spiral as conflict intensifies in Red Sea
The London marine insurance market has widened the area in the Red Sea it deems as high risk after the recent rise in attacks on commercial ships. Guidance from the…
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Cyber & Technology
December 20, 2023
Financial firms incur more cyber breaches than other sectors
Global financial organisations experienced more cyberattacks than average across all sectors, according to cybersecurity vendor Netwrix in a survey of 1,600 IT security professionals in more than 100 countries. According…
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M&A
December 20, 2023
Howden continues European expansion with Netherlands deal
Independent insurance group Howden continues its recent charge into mainland Europe from its London base through the acquisition of VLC & Partners Holding, one of the largest independent insurance brokers…
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Cyber & Technology
December 20, 2023
Cyber reinsurance market expands with cat bonds issuance
The recent issuance of a cyber catastrophe bond by Axis Capital Holdings capped a year in which the insurance-linked securities market showed increased interest in providing cyber-related reinsurance coverage. Market…
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Brokers
December 20, 2023
Leading Peruvian broker added to Brokerslink network
Brokerslink has added Consejeros y Corredores de Seguros, a leading broker in Peru, to its network. Consejeros has its main offices in Lima and Arequipa, and maintains a national presence…
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CRE Legal Regulation
December 20, 2023
Europe’s insurers welcome exemption from due diligence rules
Insurance Europe, the federation that represents the European insurance sector, has welcomed news that the European Parliament and member states agreed the corporate sustainability due diligence directive (CSDDD) but excluded...…