BPL records surge in demand for credit and political risk cover within Europe

BPL records surge in demand for credit and political risk cover within Europe

BPL records surge in demand for credit and political risk cover within Europe

Demand for credit and political risk insurance (CPRI) has rocketed in Europe, with the region buying 75% more cover during the last two years through specialist broker BPL. A report by BPL says Europe is now the third-largest buyer of CPRI polices, with $5.7bn worth of business booked to the brokers portfolio at January 2020. The CPRI market has traditionally…

Germany will account for around half of €1.1bn to €1.9bn Ciara/Sabine loss

Germany will account for around half of €1.1bn to €1.9bn Ciara/Sabine loss

Germany will account for around half of €1.1bn to €1.9bn Ciara/Sabine loss

Insured losses from Europe’s Storm Ciara/Sabine are estimated to total between €1.1bn and €1.9bn, with claims in Germany likely to account for half the total loss. RMS said the storm will costs insurers between €1.1bn and €1.8bn, with around 50% hitting Germany. The estimate is in line with the €1.1bn to €1.9bn forecast by AIR last week. Germany’s insurance association…

Coronavirus could wipe out European growth in Q1 2020: S&P

Coronavirus could wipe out European growth in Q1 2020: S&P

Coronavirus could wipe out European growth in Q1 2020: S&P

Growth across the eurozone and the UK is expected to be knocked by between 0.1% and 0.2% as a result of the coronavirus outbreak in China, and could be enough to wipe out any rise in GDP during the first quarter of 2020, according to Standard & Poor’s. It also warned that Germany is most at risk from the fallout,…

The risk manager’s role in saving the planet

The risk manager’s role in saving the planet

The risk manager’s role in saving the planet

The average European risk manager may be excused for thinking that the call from Brigitte Bouquot, president of French risk management association AMRAE, for risk managers to play their part in the creation of a new social contract between politicians, business leaders and society to help tackles the world’s big problems, is overstepping the line somewhat. But we are not…

Risk managers rising to the challenge of employee benefits

Risk managers rising to the challenge of employee benefits

Risk managers rising to the challenge of employee benefits

Employee benefits have become an increasingly hot topic for corporate risk and insurance managers in recent times. This is because companies involved in the European and international economy are fast waking up to the fact that real and lasting success can only be achieved by attracting and retaining the best talent. To do this, they need to offer the best…

Back to the future

Back to the future

Back to the future

The thriving European mutual insurance sector accounts for about half of Europe’s insurance companies by number and a third by premiums. In many ways, the principles of this highly traditional European model are fit for the modern era and goals such as the sharing economy, inclusivity and sustainability. As the Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE)…

French firms face dwindling supply chain insurance options as problems with NDBI spread to CBI

French firms face dwindling supply chain insurance options as problems with NDBI spread to CBI

French firms face dwindling supply chain insurance options as problems with NDBI spread to CBI

Transferring supply chain risks has become a much harder task for French firms as the insurance market hardening pushes underwriters to restrict coverages and increase prices. According to France’s risk management association AMRAE, contingent business interruption (CBI) coverages are now only available for better-managed risks linked to direct suppliers, while brokers say that non-physical damage business interruption (NDBI) extensions have…

Travel risk firm launches city safety maps

Travel risk firm launches city safety maps

Travel risk firm launches city safety maps

Travel risk intelligence agency Riskline has launched 250 city risk maps that will flag up city-specific threats for risk and travel managers. Launched to complement its existing city safety reports, RiskLine said the maps are detailed to street level and cover cities across every continent. Every map features information and advice for travellers about specific neighbourhoods and city landmarks, indicating…

Inga Beale joins Crawford as independent director

Inga Beale joins Crawford as independent director

Inga Beale joins Crawford as independent director

Former Lloyd’s CEO Dame Inga Beale has been elected as an independent director at global claims firm Crawford & Company. Ms Beale stepped down as the first female CEO of Lloyd’s in 2018 after five years in the post. Harsha Agadi, president and CEO of Crawford & Company, said she “brings an array of international insurance carrier experience that will…

Civil unrest, conflict and trade wars to drive political risk in the 2020s

Civil unrest, conflict and trade wars to drive political risk in the 2020s

Civil unrest, conflict and trade wars to drive political risk in the 2020s

Corporates are being warned to expect an increase in conflicts, civil unrest and trade disputes in coming years, as political risk continues to intensify and spread around the world. “Political risks are inherently difficult to predict, but unquestionably the world is becoming a more volatile place,” Andrew van den Born, managing director of financial solutions at Willis Towers Watson (WTW),…