The International Union of Marine Insurance (IUMI) has called for greater law enforcement and business action to mitigate the growing risk of cargo theft, which it warns has reached “alarming proportions”. In a position paper published to coincide with its annual conference in Toronto, IUMI proposed dedicated cargo theft taskforces to coordinate law enforcement across borders and develop effective networks…
The World Health Organisation (WHO) has declared the year-long outbreak of Ebola in the Democratic Republic of Congo (DRC) to be of “international concern”. However, borders remain open and the advice to business travellers is to carry on. Yesterday, the WHO said borders need not close and it is mindful of causing a huge economic dip by closing the borders…
Global manufacturing supply chains that operate through the world’s major hubs are making little or no progress in stamping out child labour, finds new research from Verisk Maplecroft. In its Child Labour Index, the risk analytics firm said manufacturing hubs most entwined in global supply chains – including China, India, Bangladesh, Vietnam and Cambodia – have “not recorded any improvement”…
Companies in the construction and development, infrastructure, and oil and gas sectors face the biggest challenge when it comes to dealing with corruption, according to a new report from international risk consultancy firm the Risk Advisory Group…
After 50 years of state monopoly, the Democratic Republic of Congo (DRC) has liberalised its insurance sector. The country now has three licensed non-life insurers, one life insurer, and two insurance brokers. Rupert Weterings, of AIB Brokers, one of the brokers to win a licence, said: “We do expect that SONAS (the state insurer) will get its licence in the…
Investors face “significantly” higher risk of resource nationalism in 30 countries compared to last year, according to Verisk Maplecroft’s latest Resource Nationalism Index (RNI). This includes 21 major oil, gas and mineral producing nations…
Opposition leader Felix Tshisekedi’s victory in the Democratic Republic of Congo’s presidential election appears to be a turning point for many, but risks remain. James Fox, global information analyst at Axco Insurance Information Services, explained: “The UN commended the conduct of the vote and congratulated the long-suffering Congolese people, as the streets of Kinshasa filled with celebrating supporters. Rival opposition leaders and…
The latest Ebola outbreak in the Democratic Republic of the Congo (DRC) could pose a much broader threat as medics struggle to keep it under control, warned an expert at Commercial Risk Europe’s supply chain conference…
Understanding changing insurance markets and regulatory developments is critical to making sure multinational programmes are compliant and competitive, no matter where they are located, and the implications can be challenging. Insurance regulators are increasingly looking to nurture risk capacity, cultivate insurance expertise and retain premiums within their insurance markets – and this can have important consequences for multinational companies, particularly…
There has been an uptick in protectionism in the insurance markets of many African countries, with regulators imposing measures such as compulsory domestic cessions to state reinsurers, the introduction of minimum net premium retention levels, market capacity sharing and higher capital requirements for reinsurance cessions overseas. Erich Bentz, network partner relationship manager for EMEA and regional director of global programmes…