Specialty insurer CFC has launched a new cover that protects buyers from intellectual property (P) infringement risks in mergers and acquisitions (M&A). Angus Marshall, transaction liability practice leader at CFC, said buyers frequently take out transaction liability insurance to protect themselves against financial loss resulting from breaches of representations and warranties made by the seller. While this includes cover for…
Commercial Risk is hosting its first virtual conference dedicated to the Asia-Pacific risk and insurance management community, on the increasingly important topic of global programmes, on 24–25 November. The conference, titled ‘Global Programmes Asia – gaining maximum benefit’ follows the success of Commercial Risk’s first virtual event focused on the same topic in Europe at the end of September. Global…
Covid-19 has radically altered long-term risk trends, with new exposures emerging from the pandemic, according to a report published by Allianz Global Corporate & Specialty (AGCS). New ways of working, changes in travel habits and altered supply chain networks have impacted established risk trends, with new exposures in some areas and lower claims trends in other lines of business, the…
Swiss Re Corporate Solutions and Hitachi Europe have announced a strategic partnership to deliver what they claim is an “industry first” combined risk management and insurance solution for digital risks in the era of smart manufacturing and artificial intelligence (AI). The companies said the new solution will help companies accelerate their digital transformation and minimise risks. Initially focused on the…
Companies must focus on reputational risk management and require better insurance products to manage threats such as a pandemic and future crises, according to a panel debate at Airmic Fest. Integrating data on reputational risk into an organisation’s enterprise risk management (ERM) can result in better decision making by executives and help stimulate a wider discussion on reputational threats, according…
Airmic members are working with Lloyd’s to try and develop products and services for reputational risk, aided by recent developments in data sciences and insurance market innovation. Matthew McEwan, director of risk management at Coca Cola, told CRE that a number of UK risk managers and Airmic members, including himself, are taking part in a Lloyd’s product innovation initiative. “The…
Risk managers must take steps to protect their businesses from a rising tide of fraud during the pandemic, according to expert speakers at Airmic Fest. The current environment is ripe for fraudsters and likely to lead to an increase in cybercrime and fraudulent personal injury claims, as well as supply chain and employee-related fraud, panellists said on a fraud session…
Recovery from the Covid-19 pandemic and preparation for a potential second wave is clearly top of the agenda currently for business leaders across the Asia-Pacific region and worldwide. But leaders in the Asia-Pacific region in particular must continue to focus on the impact of climate change and invest in loss prevention, business continuity and risk management and mitigation measures to…
No one within the European risk management and insurance market should be surprised by the uptick in interest in alternative risk financing, as companies across the continent struggle to cope with the economic and financial impact of Covid-19. The current crisis has once again underlined how traditional insurance products are limited in the way in which they can help deal…
Aon withdrew its 2020 guidance on revenues and profits as it announced its first-quarter results on Friday, because of the uncertainty caused by the Covid-19 pandemic. The group is preparing for a likely reduction in revenues in coming quarters because of the global economic downturn caused by the virus. It assured investors that it is proactively managing its cost base…