Ben Norris
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CRE Risk Management
European product recalls fall across all sectors during pandemic
Product recalls fell dramatically in Europe during the second quarter of 2020 as the Covid-19 pandemic slowed production and consumer…
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CRE Insurance
Bayer settles $1.6bn Essure claims in US
German pharmaceuticals company Bayer has agreed a settlement with 90% of US claimants over birth-control implant Essure. It will pay…
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CRE People Moves
BMS appoints from WTW to further US growth plans
Broker BMS Group has hired Bradley Nebel as Chicago branch manager and Mariel Biancardi as casualty facultative senior vice-president from…
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Association News
Ferma seminar goes virtual due to ongoing Covid-19 uncertainty
Ferma’s 2020 European Risk Management Seminar will now be a virtual event because of the ongoing uncertainty over Covid-19. The…
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CRE Insurance
EU’s collective redress directive to cause risk and insurance problems for manufacturers
Europe’s new collective redress directive, which is due to come into force by the end of the year, is a…
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CRE Insurance
AM Best cites improving P&C performance at AIG but downgrades life subsidiaries
AM Best has held AIG’s financial strength rating at A and maintained its P&C subsidiaries’ long-term issuer credit rating at…
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CRE Insurance
Credit risk remains at high level for Europe’s insurers: Eiopa
Credit risk faced by Europe’s insurers remains “high” because the threat of credit events persists at an elevated level, according…
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BI
GVNW teams up with brokers to propose state-backed pandemic solution
GVNW, the German association of risk and insurance managers, has teamed up with the Federal Association of German Insurance Brokers…
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CRE Insurance
Nimble brokers can win from hardening European market as options reduce: Howden
The European commercial insurance market will continue to harden in coming renewals, particularly for D&O cover, as insurers struggle to…
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CRE Insurance
Marriott facing potentially huge UK class action for data breach
Marriot International is facing a group action in London on behalf of millions of hotel guests that want compensation for…
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Asia
Financial institutions’ AML and KYC fines down 30% but up in APAC
Global financial institutions have been fined $5.6bn for non-compliance with anti-money laundering (AML), know your customer (KYC) and sanctions regulations…
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Construction
Demand for premium financing grows among larger firms in hard market
Commercial insurance buyers are increasingly turning to premium financing as they look to maintain insurance cover in a hardening market…
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CRE Insurance
QBE returns £10.6m in premiums to UK fleet policyholders
QBE has returned £10.6m in premiums to UK motor fleet customers, including bus and coach companies, which took vehicles out…
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CRE Insurance
Beirut port insurance claims already at $425m
Insurance claims following the port explosion in Beirut earlier this month have reached $425m across 2,500 claims, according to information…
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CRE Insurance
Willis unit partners with pandemic risk specialist Metabiota
The Willis Research Network (WRN) has formed a new partnership with risk analytics firm Metabiota, which specialises in infectious disease…
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CRE Insurance
Report identifies 4,500 successful daily cyberattacks on UK SMEs
Data breaches cost UK companies an average £2.5m per event, according to a new report by recruitment firm Robert Walters…
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Asia
European insurance M&A falls to three-year low but global activity holds up: Clyde & Co
The number of global insurance mergers and acquisitions (M&A) held steady in the first half of 2020 but fell in…
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BI
(Re)insurers report $21.8bn of Covid-19 losses with more likely to come
Current reported Covid-19 pandemic losses of $21.8bn from insurers and reinsurers are trailing total loss estimates for the sector, suggesting…
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BI
RMS estimates $3bn to $5bn insured Isaias losses
RMS has estimated insured losses of between $3bn and $5bn for Hurricane Isaias, which became the second hurricane to make…
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CRE Insurance
Atradius warns of increased trade credit risk in several Polish and Russian sectors
New country reports by Atradius warn that the credit risk outlook is bleak for the Polish automotive and transport sector…