The breadth of legal liability and levels of compensation across Europe are likely to increase in due course, along with a more standardized approach to liability, according to a Guy Carpenter & Co report.
Global catastrophe reinsurance rates have continued to decline throughout 2010 despite the first half of the year being one of the costliest on record with surplus capital the main driver, according to a Guy Carpenter & Co. report.
The European Commission has adopted new rules to enhance and improve the safety performance of ships, which will include the introduction of an online register to ‘name and shame’ shipping companies that are performing poorly on vital safety inspections known as port state controls.
Quinn Insurance Limited [QIL], which went into administration last March, has been refused re-entry into the UK commercial insurance market by Ireland’s Financial Regulator [FR] due to a lack of capital.
The Institute of Risk Management [IRM] has announced four key appointments to its board.
Rating agencies warn of rough times ahead for the global reinsurance market as catastrophe losses, excess capacity and a benign pricing environment combine.
Willis Group Holdings today announced the appointment of former AIG chief executive, Martin J. Sullivan, as Deputy Chairman of Willis Group Holdings PLC and Chairman and CEO of a new business unit, Willis Global Solutions.
The European Commission held the first meeting of business, consumer and legal practitioners’ groups yesterday to discuss the possibility of a pan-European contract law system.
Chinese companies that expand into Europe face an entirely different regulatory and business environment that means they must pay closer attention to risk management and insurance programmes, according to broker Marsh.
The European Commission has opened formal proceedings into whether certain provisions that accompany claim-sharing and joint-reinsurance agreements in the marine insurance sector might infringe its antitrust rules.