New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York is still the leading financial centre in the world, followed by London and Hong Kong, according to the 25th Global Financial Centres Index, published by Z/Yen Partners and the China Development Institute. According to the index, New York remains in first place, just seven points ahead of London, with Hong Kong four points behind London in third. Singapore…

Storm Eberhard insured losses up to €1.5bn: AIR

Storm Eberhard insured losses up to €1.5bn: AIR

Storm Eberhard insured losses up to €1.5bn: AIR

Insured losses from winter Storm Eberhard will range between €900m and €1.5bn, with the majority coming in Germany, according to AIR Worldwide. AIR’s loss estimate includes property damage and business interruption. Eberhard first struck the UK, the Netherlands and Belgium on 9 March. It then moved onto Germany before heading further east to Austria, the Czech Republic and Poland. The…

Food sector dominates EU recalls

Food sector dominates EU recalls

Food sector dominates EU recalls

Recalls across the EU remained steady in 2018, with Q4 figures slightly above average for electronic and food recalls but down a touch for the automotive and toy industries, according to a report from Stericycle analysing recalls issued through the European Commission’s alert systems…

Charles Taylor opens new Belgium office

Charles Taylor opens new Belgium office

Charles Taylor opens new Belgium office

Charles Taylor Adjusting (CTA) has opened a new office in Belgium to handle commercial claims and develop its P&C business in Europe. The loss adjuster’s European operations specialise in construction and engineering, professional indemnity, cyber and major loss. New directors Ludwig Pauwels and Yves Thaens join the Belgian team. They will report to Andy Rice, managing director of P&C, technical…

Netherlands, Germany and UK record most GDPR breach notices

Netherlands, Germany and UK record most GDPR breach notices

Netherlands, Germany and UK record most GDPR breach notices

More than 59,000 personal data breaches have been reported across Europe since the introduction of the General Data Protection Regulation (GDPR), with the Netherlands, Germany and UK most affected, according to new analysis from DLA Piper. Despite this, only 91 GDPR fines have been imposed, but the law firm expects higher numbers in 2019…

S&P forecast mergers in Dutch insurance market

S&P forecast mergers in Dutch insurance market

S&P forecast mergers in Dutch insurance market

Further consolidation in the Dutch insurance market, coupled with profitability issues, could affect the creditworthiness of the country’s insurers this year, according to ratings agency Standard & Poor’s (S&P). In a report on the market, S&P says the overall credit quality of Dutch insurers was unchanged in 2018 and ratings are expected to remain in the A range. However, it…

Beazley adds to financial lines team in Barcelona

Beazley adds to financial lines team in Barcelona

Beazley adds to financial lines team in Barcelona

Beazley has appointed two financial lines underwriters for continental Europe. Based in Barcelona, Francisco Alcaide joins Beazley from Hiscox where he worked in Spain as senior underwriter in the professional risks team. Mr Alcaide will launch Beazley’s e-trading platform, MyBeazley, for specialty products in Spain. Alexander van Nierop will also be based in Barcelona and joins Beazley from Aon in…

Boom or bust for risk managers when it comes to cyber

Boom or bust for risk managers when it comes to cyber

Boom or bust for risk managers when it comes to cyber

If risk managers don’t get out their comfort zones and get to grips with cyber, they face becoming redundant in the years ahead, warned experienced industry professionals at CRE’s recent Risk Frontiers event in Brussels. Speaking at a panel debate entitled ‘Risk management update – the state of the profession’, Carl Leeman, director at the International Federation of Risk and…

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