Risk managers will be interested to hear that insurers Allianz, Zurich and QBE, brokers Willis Towers Watson and Marsh, and reinsurer Swiss Re are among 230 firms included in the global Bloomberg 2019 Gender Equality Index, regarded as the ‘gold seal’ for corporate commitment to gender equality…
The quality of risk management has become as relevant as financial results when measuring how well a company is adapting to the new business environment, according to the president of French risk management association AMRAE…
A large number of midsized natural catastrophes drove 2018 insurance losses to $71.5bn, the third highest in the past eight years and above the annual average of $65.5bn since 2011, said Willis Re in its annual nat cat review. Willis Re said 2018 was “unusual” because a series of smaller catastrophes, rather than one large event, pushed the insured total…
The world’s inability to cooperate and tackle major global risks has reached “crisis levels”, and is only expected to worsen in the year ahead, finds the World Economic Forum’s (WEF’s) Global Risks Report 2019…
Cyber has been voted the joint-biggest risk facing companies in the Allianz Risk Barometer 2019, joining perennial leading concern business interruption (BI) at the top of the rankings for the first time…
Willis Towers Watson has appointed former Carillion insurance risk manager Andy Kirby to its major projects team for UK construction within corporate risk and broking GB…
Californian energy firm Pacific Gas and Electric Corporation (PG&E), which faces significant liability if its equipment is found to have sparked the costliest natural disaster in 2018, is planning to file for bankruptcy protection…
Swiss Re said natural catastrophe losses during Q4 2018 totalled $1bn with an additional $300m from man-made events during the quarter, raising its full-year 2018 catastrophe claims to an estimated $2.9bn, before tax and net of retrocession. The Camp and Woolsey wildfires in California recorded the highest losses for Swiss Re during the last quarter of 2018, with claims expected…
UK state-backed terrorism reinsurer Pool Re is on the cusp of sponsoring the first terrorism cat bond, according to media reports…
The impact of last year’s cat losses on property rates was “muted” at 1 January reinsurance renewals, with European business even recording a 2.5% fall in rates, according to Guy Carpenter’s Global Rate on Line Index that measures the change in catastrophe premium paid year on year. The US, most affected by hurricane and wildfire losses during 2018, pushed through…