The Federation of European Risk Management Associations (FERMA) has welcomed recent amendments to a much-criticised reinsurance law in Brazil, but believes they do not go far enough to address buyers’ concerns.
Willis Re has reported that the results of Solvency II’s QIS5 study suggest that it will not bring about a capital deficit for the insurance sector as a whole, but has warned they mask underlying issues with the planned regulatory regime. S&P have also given warnings based on the impact study’s results.
Piracy has hit an all time high in the first three months of 2011 with 142 attacks worldwide, the International Chamber of Commerce (ICC) International Maritime Bureau global piracy report has revealed today.
Due to relatively low demand German fidelity guarantee insurers are expanding their conditions to make their products more attractive for companies–a move welcomed by German risk managers
ASPAR CZ, the Czech risk management association, is in the midst of discussions with the country’s broker association on adopting a protocol to increase transparency and reduce conflicts of interests in the Czech market.
Modelling firm Risk Management Solutions (RMS) has this week estimated insured property losses from the earthquake and tsunami that struck Japan last month at between $18bn and $26bn.
Leading reinsurance brokers have given a mixed message on the April 1 reinsurance renewals that came on the back of a spate of disasters in 2011, but agree that by the June and July renewal period rates will not be as soft as they were at the turn of the year.
Former chief executives of German telecommunications company Telekom have agreed to a settlement with their former employer in which they will each pay €600,000.
As the Institute of Risk Management (IRM) celebrates its 25th birthday it seems a good time to consider the journey that it and its members have undertaken since the 1980’s, and take a glimpse into what the future may hold for the Institute and risk management profession
Following pressure from FERMA and other risk management and insurance associations the Brazilian government has partially backtracked on two heavily criticised reinsurance regulations that many fear would reduce capacity in the country, according to Brazil’s official federal newspaper.