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…

New insurance solution for water risks launched

New insurance solution for water risks launched

New insurance solution for water risks launched

Global Parametrics (GP), a provider of parametric protection against climate risks in emerging markets, has structured two risk transfer solutions using a Water Balance Index (WBI), to enable partners to provide drought and excess rainfall protection for smallholder farmers in India and Tanzania. The WBI is a multi-scalar meteorological index using monthly cumulative rainfall and potential evapotranspiration to estimate departure from the climatological norm. The index uses 40 years of daily atmospheric reanalysis data supplied by the…

This is the time for action

This is the time for action

This is the time for action

This issue of Commercial Risk Asia is wholly based on a series of in-depth interviews carried out with leading members of the Pan-Asia Risk & Insurance Management Association (Parima) for our annual Risk Frontiers survey. The point of this survey is to provide risk and insurance managers across the world with a unique platform to express their views on key…

Supporting the transition to sustainability

Supporting the transition to sustainability

Supporting the transition to sustainability

Insurers have an important role to play in sustainability, not only in terms of their own businesses and employees, but also in supporting their customers as they transition to a more sustainable future. Insurers are looking at how they are exposed to transition risk, but it is also important to talk about transition opportunities, where insurers help support their customers…

AXA XL makes appointments to new regional units

AXA XL makes appointments to new regional units

AXA XL makes appointments to new regional units

AXA XL Insurance has announced new appointments for its business divisions following the recent launch of its regional operating model, which came into effect on 1 October. New appointees to AXA XL’s Asia and Europe business unit division are: –Marine Charbonnier, global programmes and captives director –Mathieu Daubin, chief underwriting officer, marine –Yannick Daucourt, chief underwriting officer, specialty –Simona Fumagalli,…

MS&AD the latest Japanese insurer to face criticism for ‘weak’ coal policy

MS&AD the latest Japanese insurer to face criticism for ‘weak’ coal policy

MS&AD the latest Japanese insurer to face criticism for ‘weak’ coal policy

Tokyo-based MS&AD is the latest Japanese insurer to be attacked for its allegedly “weak” position on insuring coal by various NGOs, led by Insure Our Future, a US-based environmental, consumer protection and grassroots organisation that says its mission is to hold the insurance industry accountable for its role in the climate crisis. MS&AD came under fire after it became the…

Daimler and US authorities finalise $1.5bn dieselgate settlement

Daimler and US authorities finalise $1.5bn dieselgate settlement

Daimler and US authorities finalise $1.5bn dieselgate settlement

German car manufacturer Daimler and its subsidiary Mercedes-Benz have settled actions brought by US authorities over their role in the dieselgate scandal for $1.5bn, following an agreement in principal last month. Daimler said the settlement ends proceedings that alleged it fitted emission control systems to cheat diesel tests in 250,000 vehicles in the US. The company has also agreed a…

Munich Re says cyber, climate change and pandemics are ‘major risks of our time’

Munich Re says cyber, climate change and pandemics are ‘major risks of our time’

Munich Re says cyber, climate change and pandemics are ‘major risks of our time’

Munich Re expects claims in the low triple-digit–million euro range from the explosion at Beirut’s port last month and another low triple-digit–million loss from Hurricanes Hanna, Isaias and Laura, with Covid-19-related losses slowing since the end of June. On the wider reinsurance market, Munich Re said Covid-19 is a wake-up call for major threats such as cyberattacks and climate change.…

FM Global urges Asia-Pacific leaders to retain focus on climate risks

FM Global urges Asia-Pacific leaders to retain focus on climate risks

FM Global urges Asia-Pacific leaders to retain focus on climate risks

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…

Ferma uses consultation to press EU to create pan-European transfer solution for systemic risks

Ferma uses consultation to press EU to create pan-European transfer solution for systemic risks

Ferma uses consultation to press EU to create pan-European transfer solution for systemic risks

Ferma has told the EU in a public consultation that it should help create a pan-European risk transfer solution for systemic risks because current national insurance pools are insufficient, particularly for business interruption (BI) losses, and make it difficult for companies operating across Europe. In a response to the EC’s public consultation on its renewed sustainable finance strategy, the federation…

1 2 3 30