The risk manager’s role in saving the planet

The risk manager’s role in saving the planet

The risk manager’s role in saving the planet

The average European risk manager may be excused for thinking that the call from Brigitte Bouquot, president of French risk management association AMRAE, for risk managers to play their part in the creation of a new social contract between politicians, business leaders and society to help tackles the world’s big problems, is overstepping the line somewhat. But we are not…

Risk managers rising to the challenge of employee benefits

Risk managers rising to the challenge of employee benefits

Risk managers rising to the challenge of employee benefits

Employee benefits have become an increasingly hot topic for corporate risk and insurance managers in recent times. This is because companies involved in the European and international economy are fast waking up to the fact that real and lasting success can only be achieved by attracting and retaining the best talent. To do this, they need to offer the best…

Back to the future

Back to the future

Back to the future

The thriving European mutual insurance sector accounts for about half of Europe’s insurance companies by number and a third by premiums. In many ways, the principles of this highly traditional European model are fit for the modern era and goals such as the sharing economy, inclusivity and sustainability. As the Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE)…

UK’s ICO issues its first GDPR fine

UK’s ICO issues its first GDPR fine

UK’s ICO issues its first GDPR fine

On 20 December 2019, the UK’s Information Commissioner’s Office (ICO) issued its first General Data Protection Regulation (GDPR) fine to Doorstep Dispensaree (Doorstep), a London pharmacy that supplies medicines to customers and care homes, for the sum of £275,000. The case reveals much about how the ICO will work into the future and provides plenty of lessons for risk managers…

UK court confirms directors owe fiduciary duties post-solvency

UK court confirms directors owe fiduciary duties post-solvency

UK court confirms directors owe fiduciary duties post-solvency

A recent UK High Court ruling has confirmed that directors continue to serve fiduciary duties after a company is declared insolvent. System Building Services Group was placed into administration on 12 July 2012. Brian Michie had been a director for many years and was the sole director of the company from April 2012. In Hunt v Michie [2020], the liquidator…

Novel coronavirus outbreak: implications for international trade and shipping

Novel coronavirus outbreak: implications for international trade and shipping

Novel coronavirus outbreak: implications for international trade and shipping

The recent outbreak of a novel coronavirus in Wuhan, China has received worldwide attention and is increasingly putting a strain on businesses. On 30 January 2020, the World Health Organization declared the outbreak a Public Health Emergency of International Concern. The outbreak of any virulent disease presents the trading and shipping industries with various challenges, as was the case with…

Aviation risk managers need to consider coronavirus impact on sector

Aviation risk managers need to consider coronavirus impact on sector

Aviation risk managers need to consider coronavirus impact on sector

In 1996, a 32-year-old woman died of a drug-resistant strain of tuberculosis after flying with a US carrier from Chicago to Hawaii. The Centre for Disease Control traced all 249 passengers and found that six of them, some as far as 13 rows behind the woman, had caught the pathogenic bacterium that causes tuberculosis. As a result of this incident,…

Act in haste, repent at leisure

Act in haste, repent at leisure

Act in haste, repent at leisure

The portents of a harshening market are here. Risk and insurance managers need to be fully aware of what is occurring and rapidly digest what it means for them. They must act swiftly and decisively, but most importantly of all, on a rational and well-thought-out basis, or face potentially disastrous consequences. William Congreve coined the phrase that sits so well…

Talking local, going global

Talking local, going global

Talking local, going global

The corporate world in Spain and Portugal, with many more mid-market players than large companies, has resulted in a very different landscape for risk managers. While natural catastrophes and cyber risks top the agenda, risk managers in Spain and Portugal are also concerned by political risk and its impact on their ability to do business, said Juan Aznar Gáldiz, country…

UK provides legal certainty for smart contracts and cryptoassets in landmark legal statement

UK provides legal certainty for smart contracts and cryptoassets in landmark legal statement

UK provides legal certainty for smart contracts and cryptoassets in landmark legal statement

In mid-November, the UK Jurisdiction Taskforce, part of the LawTech Delivery Panel of senior solicitors and barristers headed by chancellor of the High Court, Sir Geoffrey Vos, published a landmark legal statement, providing long -awaited clarity on how cryptocurrencies, distributed ledger technology and smart contracts might be treated under English law. The statement follows several rounds of public and private…

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