Spanish insurers are worried about a key element of new governance requirements that will be introduced by the forthcoming Solvency II Directive.
The Malta Association of Risk Management (MARM) was formerly launched on March 30 with education a key objective in its attempts to drive the development of risk management on the island.
German exporters with concerns over the ability of their Greek customers to pay for goods are turning to the credit insurance market for help with varying degrees of success.
Insurance regulators are turning their attention from insurers to risk managers and brokers as they attempt to tighten up supervision of non-admitted insurance coverage in multinational insurance programmes according to a new report published by ACE.
The mining property insurance market is reacting to massive losses in 2011 with falling capacity, higher retentions and increased prices. There is also talk of growing coverage restrictions, in particular for costly business interruption claims.
Portuguese risk managers and their firms are increasingly concerned about the rising threat of protectionism as some of their most important international markets adopt measures to restrict free trade.
The airline industry had an ‘exceptional’ safety record in 2011 with the lowest claims figure since 1995 backed up by low fatality and reported incident numbers, according to Aon.
Despite the European debt crisis and insecurities in financial markets the German construction industry appears in good health. Surety insurers, which provide construction companies with guarantees demanded by clients, or set by law, are benefiting.
Lockton and partners launch Lockton Global Partnership, QBE strikes deal for renewal rights of Brit Insurance Ltd’s regional business, Marsh appoints Charnaud as Chairman of Global Infrastructure Practice, Lockton appoints financial institutions risk expert and Ian Bocca joins QBE’s UK Trade Credit division.
Telecommunications, energy and petrochemical companies are underinsuring their industrial assets in Asia by an average of 30%, and by up to 60%, warns a report published by Marsh and John Foord, an industrial asset valuation firm. This is significantly reducing the ability of these companies to recover in the event of a large loss, it adds.