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…

Brokers told to manage their reputations

Brokers told to manage their reputations

Brokers told to manage their reputations

For many years, insurance brokers have pushed companies to consider insuring their reputations. Now, a trade body in the UK is calling on the brokers themselves to recognise their own reputational risks and tackle them head-on. According to the Society of Insurance Broking (SIB), improving the reputation of the insurance sector has become a priority for everyone in the profession,…

Half of UK corporates set to increase risk management focus on back of Covid-19

Half of UK corporates set to increase risk management focus on back of Covid-19

Half of UK corporates set to increase risk management focus on back of Covid-19

Almost half of UK corporates surveyed by Aviva expect to increase their focus on risk management this year, with roughly three quarters planning to make changes to current practices. The poll of 1,260 business leaders from organisations of all sizes, industries and locations across the UK, finds that a third expect to increase their focus on risk management in 2021.…

Lloyd’s launches systemic risk platform Futureset

Lloyd’s launches systemic risk platform Futureset

Lloyd’s launches systemic risk platform Futureset

Lloyd’s has launched a new global platform called Futureset to help policyholders, insurers and governments tackle systemic risk. Launched in response to Covid-19, Futureset will bring together different perspectives to address the most complex risks and identify sustainable solutions. Lloyd’s said the platform is intended to build greater social and economic resilience to systemic risk and find solutions to prepare…

Economics’ failure to tackle nature loss causing ‘extreme risks’, find landmark review

Economics’ failure to tackle nature loss causing ‘extreme risks’, find landmark review

Economics’ failure to tackle nature loss causing ‘extreme risks’, find landmark review

A failure in economics to value the natural world is causing “extreme risks” and demands a “fundamental” rethink, including a better measure than GDP for financial success and new supranational institutions to protect global assets such as rainforests and oceans, says a new landmark UK government review. The 600-page independent Economics of Biodiversity review was led by Cambridge University professor Sir Partha…

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Business interruption (BI) has reclaimed its position as the top risk facing global firms, followed by a pandemic outbreak in second place and cyber incidents a close third, after taking the number one spot last year, according to Allianz Global Corporate & Specialty’s (AGCS) Risk Barometer 2021. BI held the top spot for four consecutive years in the Allianz Risk…

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

Cyber incidents have retained their position as the number one risk facing businesses in Europe during 2021, with business interruption (BI) in second place and pandemic outbreak third, finds a poll of risk experts and business leaders by Allianz Global Corporate & Specialty (AGCS). BI’s position is unchanged from last year, while pandemics are a new entry in the top…

Risk managers urged to get involved in ESG risk

Risk managers urged to get involved in ESG risk

Risk managers urged to get involved in ESG risk

Risk and insurance managers have been urged to get out of their comfort zones and become more involved in tackling environmental, social and governance (ESG) risks, as research by Ferma earlier this year shows just a third currently play a role. Bart Smets, head of insurance and risk at global materials technology and recycling group Umicore, pointed to a survey…