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Europe
Captive news
Gibraltar launches new SPV PCC category, Legislative process for making London an ILS centre underway, London & Capital opens Barbados office, JLT Towner licenses Connecticut sponsored cell captive, Many more…
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Europe
Global programmes: time to let the regulators know what you think
It's good to see that regulation and compliance issues around global programmes continue to be at the top of the risk management agenda. It certainly looks as though 2016 is…
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Asia
Ferma and Parima agree mutual recognition of respective certification schemes across continents
Ferma and Parima–the Pan-Asia Risk & Insurance Management Association–have signed a memorandum of understanding (MoU) that will see risk managers in Europe and Asia benefit from a mutual recognition of…
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Association News
Buyers advised to prioritise long-term partnerships over price in ongoing soft market
Despite the temptation to constantly change insurers offering ever lower prices in the ongoing soft market, buyers should prioritise the benefits of long-term relationships with risk transfer partners and the…
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Asia
Tianjin exposes risk management shortcomings in China and cargo sector
The Tianjin explosion and huge uncertainty about the level and nature of resultant losses has forced risk managers, brokers and insurers to take a step back and think again about…
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CRE Insurance
Sentencing guidelines bring higher penalties for large companies and their directors
New UK sentencing guidelines are likely to result in larger fines for companies and directors, as well as longer prison sentences, according to law firms.
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Asia
Commoditised Asian market failing to reward risk management: Franck Baron
The Asian commercial insurance market is failing to factor in well-managed risks when pricing cover, which is encouraging the commoditisation of insurance and buyers to simply focus on price rather…
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Association News
Reputational risk transfer options growing but remain limited: IGREA
It is possible to transfer reputational risk to the insurance market but the task is far from easy and there is not much capacity available for buyers, concluded Spanish risk…
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CRE Insurance
Trade credit insurance buyers asked to support lobbying effort
Risk transfer partners have called on buyers of trade credit insurance to help lobby regulators for more adequate treatment of trade credit insurance and address inequalities with Export Credit Agencies…
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Asia
Captive growth accelerating in Asia Pacific despite continued soft market
The Asia Pacific captive market is expected to grow rapidly in the near future as companies across the region wake up to the cost savings and risk management gains that…
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Asia
Path open for Lloyd’s to set up branch in India
Lloyd's, the London-based specialist insurance and reinsurance market, this week welcomed the publication of draft regulations by the Indian insurance regulator that would enable the market to set up a…
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CRE Risk Management
Rise to prominence of CROs sees LMA set up new committee
The growing importance of chief risk officers in the insurance industry has seen the Lloyd's Market Association (LMA) set up a new committee to represent this crucial group.
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CRE Insurance
Industry and politics need to unite to fight cyber risk, state pools not the answer: Jeworrek
The insurance industry needs to significantly upgrade its knowledge and skills in the cyber risk field and work more closely and transparently with industry and policymakers to tackle this fast-rising…
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CRE Insurance
Metrojet Egyptian loss unlikely to turn aviation market
The loss of Metrojet flight KGL9268 over the Sinai desert in Egypt is unlikely to halt softening in the aviation insurance market, although the incident has raised concerns over security…
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CRE Insurance
Song remains the same: no sign of end to soft market
Further good news for European and international risk and insurance managers came with the third quarter 2015 results published in recent weeks by the leading corporate insurers.
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CRE Insurance
Europe’s insurers juggling regulation, interest rates and expansion
European insurers are having to juggle increased regulatory pressure, the low interest rate environment and expansion into emerging markets, according to a recent briefing held in London by AM Best.
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CRE Insurance
Globalisation and industrialisation of fast food creating rising risk to health
Chipotle Mexican Grill reopened 43 restaurants in Washington and Oregon in the US this week after they were temporarily closed because more than 40 customers contracted E. coli after eating…
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CRE Insurance
Buyers warned about the risks of alternative capital
Buyers should be cautious of alternative capital products, such as catastrophe bonds and collateralised vehicles, which are largely untested and where contracts do not allow for ex gratia payments, according…
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CRE Insurance
LMA creates CRO committee as function gains popularity
The Lloyd’s Market Association (LMA) has created a new committee of Chief Risk Officers (CRO) to promote the “efficient operation and the very highest technical standards” in risk management for…
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CRE Insurance
Zurich vows not big reserving problems, will quickly fix bad apples and be ‘back on track’ in 2016
Zurich has not enjoyed a great year so far and group CEO Martin Senn was forced to report a $200m loss for the third quarter of this year on the…