AXA names new CEO of innovation unit AXA Next

AXA names new CEO of innovation unit AXA Next

AXA names new CEO of innovation unit AXA Next

AXA has appointed Jef Van In as CEO of AXA Next and group innovation officer, to replace Delphine Maisonneuve from 1 July. Mr Van In will move to the role from his current position as CEO of AXA Belgium and report to Antimo Perretta, CEO of AXA Europe. AXA Next houses eight units that have been brought together to drive…

Ferma concerned by lack of progress on European pandemic solution

Ferma concerned by lack of progress on European pandemic solution

Ferma concerned by lack of progress on European pandemic solution

The Federation of European Risk Management Associations (Ferma) is worried that efforts to establish pandemic pools appear to have lost momentum across Europe, and reiterated calls for a “risk-based” pan-European public-private partnership (PPP) for systemic business interruption (BI) risks. Ferma’s president has also called on the insurance industry to do more to help create a solution. Acknowledging the need to…

UK insurers given a year to improve operational resilience

UK insurers given a year to improve operational resilience

UK insurers given a year to improve operational resilience

Regulators in the UK have given financial institutions, including banks and insurers, a one-year deadline to improve their operational resilience. The policy statement (PS21/3) has been jointly issued by the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England. The rules come into effect on 31 March 2022, by which time firms must be able…

Cat bonds: Why is the Italian horse not drinking?

Cat bonds: Why is the Italian horse not drinking?

Cat bonds: Why is the Italian horse not drinking?

Despite the relatively high exposure of Italian businesses to natural catastrophe risks, they remain underinsured and underprepared for events such as earthquakes, with the main barriers being both cost and a lack of awareness of the potential benefits offered by traditional insurance and catastrophe bonds. For Italian companies to take this very real risk more seriously and invest in the…

UNIBA expects German growth as insurance buyers explore options

UNIBA expects German growth as insurance buyers explore options

UNIBA expects German growth as insurance buyers explore options

UNIBA Partners, the Brussels-based global broker network, expects growth in Germany among in-house as well as independent brokers, as the current hard market and the many challenges brought by Covid-19 further underline the need for independent, trusted and expert risk management advice, plus the ability to handle multinational risks. The network was created in Germany back in 1987 to provide…

Lack of legacy and commitment to claims key for BHSI growth in Germany: Krause

Lack of legacy and commitment to claims key for BHSI growth in Germany: Krause

Lack of legacy and commitment to claims key for BHSI growth in Germany: Krause

Berkshire Hathaway Specialty Insurance (BHSI) launched into Germany in 2016 and is well on track to establishing itself as a serious lead multi-line carrier for corporate insurance managers in the country, despite the many challenges posed by the currently tough market, believes Andreas Krause, country manager in Germany for the US-based group. Mr Krause told Commercial Risk that BHSI Germany…

AGCS calls for partnership to tackle D&O and cyber challenges in Germany

AGCS calls for partnership to tackle D&O and cyber challenges in Germany

AGCS calls for partnership to tackle D&O and cyber challenges in Germany

German insurance managers should not expect a significant improvement in the directors and officers (D&O) insurance market this year, as carriers face up to a highly uncertain legal and economic landscape driven by the ongoing impact of Covid-19, an expected rise in insolvencies, rising litigation and claims, and recent regulatory initiatives in Germany and across Europe, according to Stephan Geis,…

Companies must up game as business travel raises new risks and assessment challenges

Companies must up game as business travel raises new risks and assessment challenges

Companies must up game as business travel raises new risks and assessment challenges

Many companies will need to up their game to deliver duty of care as the expected return to business travel later this year creates new risks and requires more in-depth risk assessment, according to experts. The uncertain development of the Covid-19 crisis presents huge challenges for going on business trips in 2021, according to German insurer HDI Global. In some…

Time to really focus on claims

Time to really focus on claims

Time to really focus on claims

The very reason why insurance is purchased by individuals and businesses is to ensure that they are ‘covered’, at least financially, when a nasty or unexpected event occurs. The efficient management and payment of claims is therefore the most important service that insurers and their partners in the market, such as brokers, loss adjusters and lawyers, can offer their customers. Sadly, all too often…

CPRI market rising to the challenge on claims says BPL

CPRI market rising to the challenge on claims says BPL

CPRI market rising to the challenge on claims says BPL

The specialty credit and political risk insurance market (CPRI) continues to pay claims in this increasingly complex and volatile global economic and political environment. But the full impact of Covid-19 on this specialty sector has yet to be fully felt, says London-based broker BPL Global. BPL publishes an annual report on the CPRI market that shows a positive picture in…

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