Corporate round-up

ACE launches European casualty and fire risk solution for fashion retail sector ACE this week launched a new packaged insurance product named ACE Moda to cover the casualty and fire risks of continental European companies in the fashion retail sector. ACE Moda is designed to complement the company's insurance offering in other lines, such as group personal accident and business travel, directors and officers liability, crime and marine.hideThe solution includes: 'No dress, no bride' cover, which indemnifies the expenses incurred by the insured due to the non-delivery of wedding dresses on time because of an accident. Automatic inclusion of non-standard clauses, such as cover for image restitution expenses due to product recall. The potential to include, in the same policy, terrorism and political violence cover. An ability to structure the product as a multinational programme from the retailer's first store opened abroad with access, for both broker and client, to ACE's global network and specialised multinational services. José Ramón Martínez, Property Insurance Manager for ACE in Iberia, said: "We have designed, with ACE Moda, a complete product that includes specific and innovative guarantees for the retail sector and also offers other guarantees that, although they already exist in the market, were not included in policies automatically." "Additionally, ACE Moda protects companies through their international expansion, whether at the time of the first store opening or as they continue to grow their global footprint and we are always willing to share our experience with brokers seeking to offer an improved international service to their clients," he said. Swiss Re Corporate Solutions names new South African head Swiss Re Corporate Solutions has named Natasha Wally as country manager for South Africa where she will head up the company's wholly owned subsidiary Swiss Re Corporate Solutions Advisors South Africa Pty Ltd. Ms Wally will be based in Johannesburg. The South African has 17 years of experience in the insurance sector with an 'extensive network and understanding of the South African market', said Swiss Re Corporate Solutions. Tony Buckle, Head of Europe, Middle East and Africa (EMEA) for Swiss Re Corporate Solutions, said: "Bringing Natasha onto our team signals our commitment to long-term relations with our clients and brokers in South Africa-a focus high growth market for us. Natasha is well-positioned to drive the implementation of our strategy, which is to bring our products and services closer to local market participants and address their specific needs." CMS launches Insurance Act resource Law firm CMS has launched a dedicated resource for insurance practitioners in advance of changes to law resulting from the UK's Insurance Act. The new CMS Insurance Act Zone forms part of the company's Law-Now platform. It will provide users with essential guidance and tools to help them prepare for law changes that come into force next year. "The Insurance Act 2015 introduces major changes to insurance law in the UK and our Insurance Act Zone offers an easy to use one-stop resource for our clients, explaining the changes and analysing how they will affect them. Insurers, insurance brokers and their clients need to start considering the implications of the act which will affect all stages of the insurance process, from placement to claims, and all lines of business," said Ed Foss, Head of CMS London's Insurance and Reinsurance Group. "The Act makes key changes to the duty of disclosure in commercial insurance contracts, warranties and insurers' remedies for fraudulent claims. It comes into force on 12 August, 2016 and will apply to contracts from that date although some insurers and policyholders are considering whether to 'opt in' to the Act earlier or, as it is a default regime, opt out," he added. Charles Taylor appoints new head of insurance tech team Charles Taylor has appointed Jason Sahota from KPMG to lead the development of its insurance technology strategy. The firm said the appointment of Mr Sahota as head of its Group IT team will enable it to focus its insurance technology strategy on meeting the 'large and growing' demand from global insurance markets for technology services. Mr Sahota joins from KPMG where he was a director with responsibility for delivering business transformation advisory services to KPMG's clients. Previously he was UK data centre director and head of programmes and projects at Atos, the multinational IT services business. David Marock, Group Chief Executive Officer, Charles Taylor, said: "The global insurance technology market is growing rapidly with increasing demand from insurers to replace legacy systems, bring new products to market quickly and capitalise on the potential of big data. A sizeable proportion of our business is already dedicated to providing insurance technology solutions and services to insurance clients across the globe. We believe that we are well-positioned to further capitalise on this opportunity and I am pleased to welcome Jason to the group to drive forward our insurance technology strategy."

Corporate round-up

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