Marsh figures show jump in W&I claims across EMEA

Marsh figures show jump in W&I claims across EMEA

Marsh figures show jump in W&I claims across EMEA

Marsh reports that warranty and indemnity (W&I) claim notifications are up 293% across Europe, the Middle East and Africa (EMEA) between 2016 and 2018, with the cover gaining in popularity and notifications as a proportion of policies placed rises. In its Transactional Risk Insurance Claims Study, Marsh also finds a reduction in the time taken to settle W&I claims. In…

Belgium’s Asco confirms ‘large-scale’ ransomware attack

Belgium’s Asco confirms ‘large-scale’ ransomware attack

Belgium’s Asco confirms ‘large-scale’ ransomware attack

Belgian aviation manufacturer Asco has confirmed a “large-scale” ransomware attack that has taken down all business activities and its communications. Confirming the attack almost a week after reports first emerged, Asco said it has shut down activities at all sites in Belgium, Germany, Canada and the US. All systems have been “quarantined”, it added. Asco said it is working with…

Employee benefits pushed onto risk agenda in Germany, Netherlands and UK

Employee benefits pushed onto risk agenda in Germany, Netherlands and UK

Employee benefits pushed onto risk agenda in Germany, Netherlands and UK

Employee benefits, mental health and wellbeing continue to rise up the corporate risk and insurance management agenda, according to discussion at leading national events in Germany, the UK and the Netherlands in recent weeks. Risk and insurance managers are increasingly finding themselves in discussion with their colleagues in human resources (HR) and the c-suite about how their insurance management expertise…

Dutch risk managers warn colleagues to prepare for sustained hard market

Dutch risk managers warn colleagues to prepare for sustained hard market

Dutch risk managers warn colleagues to prepare for sustained hard market

Leading Dutch risk managers have warned fellow risk and insurance managers across Europe that, in their view, the commercial market is definitely hardening and is likely to continue. There is also rising concern about the appetite of the leading insurers for global programmes business. The risk managers said the best response to the hardening market is to continue in the…

Europe dominates FM Global’s resilience risk index

Europe dominates FM Global’s resilience risk index

Europe dominates FM Global’s resilience risk index

European countries dominate FM Global’s 2019 Resilience Index, taking nine of the top ten positions, led by Norway as the most resilient business environment. FM Global said the top ten was “reshuffled” for 2019, with Norway up from fourth place in 2018. Demark came second, with Switzerland – last year’s most risk-resilient country – in third. The UK was a…

Liberty Mutual to acquire AmTrust’s global surety and credit reinsurance operations 

Liberty Mutual to acquire AmTrust’s global surety and credit reinsurance operations 

Liberty Mutual to acquire AmTrust’s global surety and credit reinsurance operations 

Liberty Mutual Insurance is to acquire the global surety and credit reinsurance operations of AmTrust Financial Services. Liberty Mutual has signed a definitive agreement with AmTrust, a multinational property and casualty insurer specialising in coverage for small to mid-sized businesses. It added that the agreement supports its goal of becoming a top three global commercial (re)insurer. Terms of the deal were not disclosed. Liberty Mutual will acquire four AmTrust businesses:…

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