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Asia
Corruption risk complicated in China as bribery crackdown takes hold
Despite a government-led crackdown on bribery in China, the threat of corruption has not abated for multinational companies, according to research from the Anti-Fraud Network (AFN).
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Prize-winning paper suggests appointment of devil’s advocate to public boards
Public companies should appoint a 'Contrarian Director' who systematically challenges management recommendations to the board and suggests a range of alternative outcomes, according to the winning paper in the 2015…
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CRE Insurance
RMS teams up with UN and World Bank to provide free cat models for governments
RMS, the US-based catastrophe modelling firm, this week announced that governments will have free access to RMS(one), the company's real-time exposure and risk management platform. This means that both public…
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CRE Insurance
Guernsey enlists OECD in fight to clear its name with EC
Guernsey has stepped up its efforts to clear its name after it appeared on an allegedly incorrect European Commission 'black list' of supposedly non-cooperative jurisdictions by enrolling the support of…
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CRE Insurance
Corporate round-up
Swiss Re Corporate Solutions opens Madrid office to service Iberian clients, ACE doubles terrorism, political violence and war risk capacity to €100m, XL Catlin launches op risk solution to support…
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Association News
RMIA joins risk certification party as it updates and expands Australasian framework
The Risk Management Institution of Australasia (RMIA) is the latest body to announce new ways for individual risk managers to become certified as it revealed an updated and expanded certification…
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CRE Insurance
ACE buys Chubb for $28.3bn to join international insurance ‘elite’
ACE has announced that it will acquire Chubb Corporation for $28.3bn to create a global insurance group generating over $30bn in net written premiums based on the two groups' 2014…
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CRE Insurance
Willis merger with Towers Watson welcome news for risk managers in need of global alternatives
London-based global broker Willis and US-based employee benefits consulting firm Towers Watson have signed a definitive merger agreement to create a firm named Willis Towers Watson worth $18bn.
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CRE Risk Management
IRM launches risk manager certification scheme
The Institute of Risk Management (IRM) launched its risk manager certification scheme yesterday awarding its first members the title at an event in London.
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Association News
Ferma elects Canameras and Wegener to board: De Felice steps down
Ferma has elected AMRAE's past president Gilbert Canameras and DVS' Dirk Wegener to its board of directors. The federation also announced that former vice president and board member Alessandro De…
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CRE Insurance
Insureds and carriers face immediate dangers from Grexit warns lawyer
The insurance industry and its customers face huge uncertainties in the face of a potential Greek exit from the euro, according to law firm CMS, with 'immediate dangers' for all…
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CRE Insurance
No panic for European insurers over Grexit: Fitch
European insurers should be able to absorb the potential shocks from a Greek exit from the eurozone, according to Fitch. The main risk would be from contagion to other peripheral…
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CRE Insurance
French terror attack does not signal inherent risk increase for companies: Maplecroft
Last week's terror attack at a gas plant in France does not necessarily signal an increase in terrorism risk for companies, according to a leading risk consultancy.
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Association News
Next president to place Ferma at heart of Europe and continue certification push
Certification and gaining influence in Europe's corridors of power are key priorities for Ferma's next president Jo Willaert.
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CRE Insurance
Signs of peak cat zone reinsurance price stabilisation: Willis Re
There are early signs that reinsurance rates are stabilising in peak property catastrophe zones, according to Willis Re. It noted however that competition remains 'intense' for non-peak zones.
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CRE Insurance
Willis’ Steve Hearn to join Cooper Gay Swett & Crawford
Willis' deputy CEO Steve Hearn is to leave the brokerage and take up a new role as group CEO at Cooper Gay Swett & Crawford (CGSC).
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BI
FM Global sees uptick in property cyber claims
Specialist property insurer FM Global has seen an increase in cyber claims. The firm is working with risk managers to raise awareness of cyber cover under its property damage and…
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Captives
Asset managers not ready for Solvency II finds survey
Captive owners will be concerned to hear that more than one in three insurance professionals and fund managers (36%) believe that asset management companies are not prepared to provide the…
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CRE Insurance
Corporate round-up
XL Catlin appoints Brendan Plessis as head of emerging markets, Peak Re names Eckart Roth as CRO and Skuld recruits Willis man to head Bergen office.
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Association News
DVS criticises key aspects of recently passed German IT Security Bill
German risk and insurance manager association DVS has criticised aspects of its country's IT Security Bill that was recently passed by Germany's lower parliamentary house the Bundestag.