Get ready for a bloody renewal…

Get ready for a bloody renewal…

Get ready for a bloody renewal…

Recent half-year results published by leading international insurers and brokers all point to a hardening commercial insurance market that appears to be rapidly gaining pace, which means risk managers across Europe need to start preparing their colleagues and bosses for higher insurance costs next year. Potentially more significant and difficult to explain to the CFO is the fact that, as…

Growing demand for multinational insurance despite headwinds

Growing demand for multinational insurance despite headwinds

Growing demand for multinational insurance despite headwinds

Demand for multinational insurance programmes continues to rise despite mounting anti-globalisation sentiment and protectionism, with captives, mid-sized companies and firms from emerging markets driving growth. Some companies in mature markets have scaled back programmes as they reduce their global footprint, but are generally looking at covering a wider range of risks in international programmes. According to brokers and insurers, demand…

Claims, global programmes and hard market top agenda as San Millán returns as Igrea president

Claims, global programmes and hard market top agenda as San Millán returns as Igrea president

Claims, global programmes and hard market top agenda as San Millán returns as Igrea president

When Daniel San Millán took over as president of Spanish risk management association Igrea for a second time in May, he was probably entitled to a sense of déjà vu. The association still needs to tackle some of the same challenges that risk managers have been dealing with since its creation back in 2009. Issues such as claims handling and…

Cyber risk management improving in Europe

Cyber risk management improving in Europe

Cyber risk management improving in Europe

CRE spoke to James Tuplin, head of international cyber at AXA XL, about some of the trends in cyber risk and insurance management to find out the current state of play. He discussed areas in which risk and insurance managers are improving, as well as where and how they can up their game. Ben Norris: What is the state of…

Pace of change causing risk management problems

Pace of change causing risk management problems

Pace of change causing risk management problems

The pace of change is hampering risk managers’ ability to identify, manage and mitigate their organisations’ risks, according to Francesco Semprini, managing director for Risk Frontiers Europe sponsor HDI Global in Italy. Mr Semprini said risk managers face an increasing list of risks to manage, and they are becoming ever more complex. “Even ‘traditional’ risks such as natural catastrophe are…

Artificial intelligence offers big improvement in supply chain risk management

Artificial intelligence offers big improvement in supply chain risk management

Artificial intelligence offers big improvement in supply chain risk management

Earlier this year, Zurich Insurance announced that it had entered a strategic agreement with riskmethods GmbH, a Munich-based company that uses artificial intelligence and big data to identify and manage supply chain risk worldwide. This provides Zurich’s commercial customers with an exciting new tool to help manage a complex and rapidly rising corporate risk. The new service has initially been…

Business interruption creating new challenges

Business interruption creating new challenges

Business interruption creating new challenges

The cost of replacing physical assets is being dwarfed by subsequent business interruption costs, as Florence Louppe from Risk Frontiers Europe sponsor HDI Global in France explained to Commercial Risk Europe. Business interruption has revealed new types of risks for corporates and their insurers, throwing up unexpected challenges and demanding innovative insurance solutions. Florence Louppe, managing director at HDI Global…

Australian risk managers in mining sector must prepare for tough renewal: WTW

Australian risk managers in mining sector must prepare for tough renewal: WTW

Australian risk managers in mining sector must prepare for tough renewal: WTW

The Australian mining industry continues to be a significant contributor to global mining insurance losses that reached an “atrocious” $1.3bn in 2018 after a pretty awful loss total of more than $1bn in 2017, according to Willis Towers Watson’s (WTW) latest market analysis. WTW’s Mining Industry Review finds that the loss trend continued into this year. Total losses incurred by the…

Clashes over silent cyber likely at 1 January renewals

Clashes over silent cyber likely at 1 January renewals

Clashes over silent cyber likely at 1 January renewals

Risk managers and brokers will have to work doubly hard during the coming months, as a concerted effort by the insurance market to tackle silent cyber will lead to heated discussions at the year-end renewals, potentially leaving some customers with serious coverage gaps. Despite buyer representatives welcoming the clarity that work to tackle silent cover will bring, a leading broker…

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening in the mining insurance market is accelerating, as large losses and capacity withdrawals make for challenging renewals, according to Willis Towers Watson (WTW). While not yet a true hard market, the tide has turned for property and casualty mining risks, making it harder for some mining companies to purchase the cover they desire, according to the broker’s Mining Risk…