European Property Underwriting Ltd (EPUL) has launched a package of covers for UK property owner risks that fall outside the norm, including irregular constructions or unusual occupations. The commercial property MGA EPUL said it would welcome risks for industrial, retail, office, residential or unoccupied properties for cover under its Solutions package. It combines material damage alongside loss of rent and…
Insurers see a stronger case for cross-border collaboration to wade through emerging risks and climatic changes on the continent. Industry players participating in the sixth CEO Summit organised by Continental Reinsurance said it will take deepened regional collaboration to introduce new products to fit changing customer needs as well as address emerging risks. Nigeria Insurance Commission (Naicom) deputy commissioner in…
Climate risk and natural disasters now account for 90%–95% of the risks that are reinsured globally, said Adama Ndiaye, president of FANAF. In Africa, however, many of the insured catastrophes are as a result of human intervention – such as fires or technical failures, among others. He warned that, as a result, climate change risks “are not yet in the…
Specialty insurer Markel International has hired Christian Stobbs as strategy director for Asia. Based in Singapore, Mr Stobbs will be responsible for leading and developing the insurer’s strategic priorities in the region. These include building on Markel’s existing presence in Singapore, India, China and Malaysia by deepening its links with local insurers and distributors, as well as developing new products…
Thousands of Nigerian farmers could soon have access to insurance thanks to a new deal signed between Africa Re and the International Finance Corporation (IFC), a member of the World Bank Group, to help insurance companies in Nigeria develop innovative agricultural insurance products for smallholder farmers. The scheme which is designed to highlight accessible risk management tools, will be run…
Dark privacy is set to become one of the biggest cyber risks facing business as data is increasingly used to influence human behaviour, according to a leading cybersecurity expert. A combination of cognitive bias, data mining and third-party access to personal data will increasingly make it possible to change behaviour and influence decision-making, according to Menny Barzilay, co-founder and chief…
The ongoing uncertainty surrounding Brexit highlights the importance of professional risk management to prepare organisations and ensure business continuity, Ferma said this week after voicing “frustration” at the current deadlock in UK parliament…
A clear majority of board directors and general counsels (GCs) agree corporate risk has increased significantly in the past two to three years, and 30% fear their business is not prepared to tackle the most serious issues, according to a new report from Clyde & Co and Winmark…
Allianz Global Corporate & Specialty (AGCS) has launched product recall cover for UK manufacturers of automotive component parts, although the company said it will expand to other markets including North America and Asia in due course. AGCS said the product would cover buyers for expenses linked to a recall – including repair, replacement and legal defence costs – as well…
Buyers can access expanding insurance protection for reputational damage with improvements in loss-of-profit cover and cyber protection…