Captives are currently a good option for European risk managers as they grapple to contain costs and maximise coverage during the rapidly hardening corporate insurance market. They offer the opportunity to more effectively identify, measure, manage and prevent risks, and provide critical leverage when negotiating terms and conditions with the insurance and reinsurance markets. But a panel of experts gathered…
Met veel plezier biedt Commercial Risk Europe u de hoogtepunten aan van het NARIM Congres van dit jaar in Nederland, gesponsord door Liberty Specialty Markets. NARIM heeft zich snel aangepast aan de COVID-19-crisis, annuleerde het fysieke congres dat voor eerder dit jaar stond gepland en organiseerde eind september het allereerste virtuele congres. Het evenement was sterk gericht op de toekomst…
Tijdens het jaarlijkse congres van de Nederlandse Associatie van Risk & Insurance Managers, NARIM, interviewde redacteur Adrian Ladbury van Commercial Risk Europe Rob Groenen, General Manager Benelux & Nordics bij Liberty Specialty Markets, en vroeg hem naar de reactie van de markt op de COVID-19-crisis, en hoe de verzekeringssector moet reageren als het gaat om klanten, duurzaamheid, de opkomst van…
Commercial Risk is hosting its first virtual conference dedicated to the Asia-Pacific risk and insurance management community, on the increasingly important topic of global programmes, on 24–25 November. The conference, titled ‘Global Programmes Asia – gaining maximum benefit’ follows the success of Commercial Risk’s first virtual event focused on the same topic in Europe at the end of September. Global…
The Pan-Asia Risk and Insurance Management Association (Parima) has gathered an impressive line-up of speakers for its coming Resilience Week (9-13 November) and expects a record number of delegates for one its events. The Singapore-based association moved swiftly to replace its usual physical conference at this time of year with the virtual event. The programme is designed to help risk…
Tokyo-based MS&AD is the latest Japanese insurer to be attacked for its allegedly “weak” position on insuring coal by various NGOs, led by Insure Our Future, a US-based environmental, consumer protection and grassroots organisation that says its mission is to hold the insurance industry accountable for its role in the climate crisis. MS&AD came under fire after it became the…
The closure of US courts because of the Covid-19 crisis has not halted the rise in social inflation and securities actions in the US, and leading corporate insurers and reinsurers face another year of significant reserving additions as a result, according to Philip Kett, equity analyst and vice-president at investment bank Jefferies International. This is not good news for risk…
Insurance Europe, the European insurance industry’s representative body, has called on the European Commission to adopt a voluntary approach to the ethical use of artificial intelligence (AI) in the sector or risk stifling this critical development area. The Brussels-based insurer group makes the call in its response this week to a consultation by the EC on ethical and legal requirements…
Fitch Ratings today joined rival ratings agencies in stating that the High Court’s ruling on business interruption (BI) claims caused by the Covid-19 lockdown will not threaten the solvency of the UK and international insurance market. Fitch agreed with many experts that the ruling was actually limited because it only focused on a narrow set of policy wordings. As a…
Mactavish, the specialist outsourced insurance buyer and claims resolution consulting firm, this week poured cold water on the idea that the High Court ruling on business interruption (BI) cover for Covid-19-related claims was a significant victory for policyholders. The firm’s CEO Bruce Hepburn said this is actually “the start of the battle, not the end”. The firm said that it…