-
Association News
Ferma urges renewal of IBER to maintain coverage of large risks
Ferma this week urged the European Commission to renew the Insurance Block Exemption Regulation (IBER) for (re) insurance pools. It argues that failure to do so would decrease the availability…
-
CRE Insurance
Companies could face higher terrorism insurance costs if Pool Re changes come to fruition
UK companies could have to pay more for their terrorism insurance if the government moves ahead with plans to increase rates under Pool Re, the country's state-backed terror reinsurer.
-
CRE Insurance
AIG, Endurance and Lancashire numbers confirm flat renewal trend
Endurance Specialty and Lancashire Holdings are the two latest international insurers to announce results and strongly affirm the positive trend for risk managers seen so far during this third quarter…
-
CRE Insurance
Organisations struggling to manage cyber risk finds EY survey
This year's EY Global Information Security survey suggests that organisations lack the agility, budget and skills to protect themselves against cyber risk.
-
CRE Insurance
Government-led UK summit backs cyber market to drive risk prevention
The UK's Cabinet Office minister Francis Maude, who holds responsibility for the UK Cyber Security Strategy, co-hosted a summit of CEOs from the country's insurance sector on Wednesday in order…
-
Association News
Buyers struggling with multi-layered claims settlements
Spanish risk managers have raised concerns about market practices to settle large losses covered by multi-layered insurance programmes involving several insurers.
-
CRE Insurance
BSI releases new global supply chain standard
The British Standards Institution (BSI) this week launched a supply chain information standard for suppliers and buyers at organisations of all sizes around the globe.
-
CRE Insurance
Demand for fidelity insurance on the rise in Germany as cyber risks mount
Demand for fidelity insurance is on the rise in Germany as organisations become increasingly concerned by cyber risks, experts say.
-
Asia
JLT results confirm tough market and need to expand for growth
There is little hope of a market hardening in the global corporate insurance sector as we head towards year-end renewals, according to JLT, the London-based international specialty insurance and reinsurance…
-
CRE Insurance
Corporate round-up
XL restructures casualty risk engineering team, AGCS appoints Crabtree as UK head of product development for financial lines and Marsh expands analytics platform.
-
CRE Insurance
Solvency II won’t hit insurers’ ratings but enthusiasm waning: AM Best
Credit rating agency AM Best has released a new special report on Solvency II that concludes it will not have an automatic effect on the ratings of European insurers.
-
Association News
Deliver solutions to strategic business risks or lose relevance Airmic warns insurers
Insurers must adapt to the changing needs of business and develop solutions that support business strategy rather than simply focusing on physical operations, Airmic urged this week.
-
CRE Insurance
Many insureds feel they don’t need specialist cyber cover suggests survey
A survey of US insurance professionals suggests that the main reason organisations aren't taking out standalone cyber insurance is because they don't believe they need the extra cover as opposed…
-
CRE Insurance
Cost of cybercrime continues to rise for French and German firms
The cost of cybercrime continues to rise for companies in France and Germany with energy, financial services, utility and technology organisations experiencing higher costs than media, hospitality and retail firms,…
-
CRE Insurance
Improving risk profile of European banks will boost insurance options: Marsh
This recent stress testing of European banks points to an improving risk profile for the sector. This should have positive implications for financial institutions' insurance rates and coverage–in particularly their…
-
CRE Insurance
More tax investigations likely as EC turns attention to VAT
European risk managers can expect more meetings with their tax departments because the European Commission has called upon member states to take a tougher stance on VAT evasion and deliver…
-
CRE Insurance
Global marine piracy continues to fall reports the IMB
Worldwide marine piracy has fallen again during the first nine months of this year from its peak in 2011, according to the latest report from the International Chamber of Commerce…
-
CRE Insurance
New IAIS global capital requirements unlikely to cause problems for traditional insurers: Fitch
The basic capital requirements (BCR) for global systemically important insurers (G-SIIs) announced last week by the International Association of Insurance Supervisors (IAIS) are relatively low, said Fitch. As a result…
-
Benelux
Corporate round-up
Swiss Re Corporate Solutions opens office in Frankfurt, XL names Eric Zandvliet as senior political risk and trade credit underwriter, Julian Barker joins ANV Syndicate 1861 Political Risk & Violence…
-
CRE Insurance
ACE becomes biggest commercial P&C insurer in Brazil
ACE Ltd announced yesterday that it has received all regulatory approvals needed to close its acquisition of the large corporate property and casualty business of Brazilian insurer Itaú Seguros from…