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)…

Making claims globally consistent and locally responsive

Making claims globally consistent and locally responsive

Making claims globally consistent and locally responsive

The promise to pay claims is what risk managers are buying when they take out an insurance policy. Massimiliano Malinverno, head of global programmes – claims at AXA XL, explains how managing claims within a global programme can provide risk managers with a greater degree of oversight, control and authority. And, he says, a coherent, swift and proactive approach from…

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,…

Digital capabilities transforming global programmes

Digital capabilities transforming global programmes

Digital capabilities transforming global programmes

For some time, there has been a growing demand from risk managers and brokers for greater transparency of data when it comes to global programmes. They have also been looking for better-quality and cleaner data. That demand for transparency has largely been met by most carriers in the global insurance programme world, and data is now routinely shared. As a…

Considerations of the risk manager on a D&O programme – Insurance premium tax

Considerations of the risk manager on a D&O programme – Insurance premium tax

Considerations of the risk manager on a D&O programme – Insurance premium tax

For risk managers, the line of insurance that guarantees the most attention and focus of the board is undoubtedly directors and officers (D&O) liability. In the current hardening market, terms and conditions are paramount, but when looking at the various ways in which a global insurance programme can be structured, it is important that the risk manager is fully aware…