Learning risk management lessons from pharma recalls

Learning risk management lessons from pharma recalls

Learning risk management lessons from pharma recalls

The pharmaceutical industry is a very highly regulated industry, where quality control is extremely important and high profile. But as a recent series of recalls has shown, even in this industry, quality control can fail and after impurities are discovered, contaminated products can hit the market with expensive and damaging consequences. Last year, we at Zurich started to see massive…

Don’t let the bed bugs bite!

Don’t let the bed bugs bite!

Don’t let the bed bugs bite!

Bed bugs have been around since the dawn of time; originally, they were using bats as hosts and began feeding on humans while we were still living in caves. They were a common sight in the pre-insecticide era, where it is estimated they were resident in 30% of households. Recent years have seen species migrating northwards as temperatures increase. While…

Brazil: a market of both challenge and opportunity for risk managers with global programmes

Brazil: a market of both challenge and opportunity for risk managers with global programmes

Brazil: a market of both challenge and opportunity for risk managers with global programmes

In the early 2000s, Brazil was heralded alongside Russia, India and China as one of the ‘big four’ developing economies poised for major growth. A huge land mass, large population and a strategic location in Latin America positioned the country well for economic and social progress. With a peak GDP growth of 4.5% from 2006 to 2010, more than 29…

Automation and digitalisation in shipping: a lack of standardisation and regulation?

Automation and digitalisation in shipping: a lack of standardisation and regulation?

Automation and digitalisation in shipping: a lack of standardisation and regulation?

The shipping industry has recently seen a large number of exciting and futuristic proposals for automated and digital innovations. The intention is to increase efficiency, reduce costs, save time and promote safety at sea. The increasing number of automation and digitalisation solutions should lead to a corresponding increase in standardisation and regulation. However, this will take some time to achieve…

Leveraging new technology to efficiently manage a global partner network

Leveraging new technology to efficiently manage a global partner network

Leveraging new technology to efficiently manage a global partner network

Globalisation has reduced the distances and barriers between countries, allowing corporations to perform business in multiple markets, which has driven the need for international insurance. Insurance companies should have capabilities around the globe to be able to offer a comprehensive insurance solution for global customers and to deal with the complexities of different regulations and market practices. Global insurers such…

The curious contradiction of M&A risk transfer

The curious contradiction of M&A risk transfer

The curious contradiction of M&A risk transfer

Mary Duffy, global head of M&A insurance at AIG, explains why it pays for risk managers to be front and centre during an acquisition or divestiture. Risk and insurance managers are central to placing international programmes, managing relationships with insurance and broking partners and coordinating the claims process. But it is a curious contradiction that the same is often not…

Time to prepare for a sustained hard market

Time to prepare for a sustained hard market

Time to prepare for a sustained hard market

It seems that the corporate insurance market is finally turning. If they have not already done so, risk and insurance managers in Europe and worldwide had better start softening up their bosses for a less easy ride and end of ever-shrinking insurance budgets. This was the message that came out of first quarter result announcements and analyst calls made by…

Tech to drive risk prevention trend

Tech to drive risk prevention trend

Tech to drive risk prevention trend

Technology will help shift risk management emphasis onto prevention rather than transfer, Fujitsu’s chief technology officer for the Europe, Middle East, India and Africa (EMEIA) region told CRE ahead of the launch of the Fujitsu Tech Hub at the Airmic conference in Harrogate. During the event, the Tech Hub will showcase a range of technologies with risk and insurance applications,…

Tackling the big risks

Tackling the big risks

Tackling the big risks

We spoke to Claire McDonald, country manager for the UK and Ireland at Risk Frontiers Europe sponsor HDI Global, about the big issues facing risk managers, including Brexit, claims and other key topics. Uncertainty, mostly as a result of Brexit, continues to impact the insurance market and its customers, not least as businesses grapple with potential implications for their multinational…

Data key to more accurate risk analysis and pricing

Data key to more accurate risk analysis and pricing

Data key to more accurate risk analysis and pricing

The arrival of big data theoretically offers the risk and insurance management community an unprecedented opportunity to significantly improve the way risks are identified, measured, modelled, priced and, ultimately, transferred. In a world of ever-tighter deadlines, swifter change and scarce resources, risk and insurance managers need to ensure they are taking advantage of the brave new world of analytics. Commercial…

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