Corporates that ignore ‘grey swans’ at risk of shareholder action, says Aon report

Corporates that ignore ‘grey swans’ at risk of shareholder action, says Aon report

Corporates that ignore ‘grey swans’ at risk of shareholder action, says Aon report

Directors and officers are facing increased risks from ‘grey swan’ risks, with shareholders on average losing 26% of value in their holdings in the year following reputation crises caused by such events, according to a new report from Aon and Pentland Analytics. Shareholder value has fallen by half in more than 10% of 300 corporate reputation crises during the last…

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and A J Gallagher are frontrunners for the Willis Towers Watson (WTW) business in Europe that it seems Aon will have to dispose of to gain the EC’s approval for a planned $30bn acquisition of the group, a senior industry source in Germany told Commercial Risk Europe. It is also thought that McGill and Partners, the London-based broker launched…

Widespread misunderstanding of D&O cover among UK directors

Widespread misunderstanding of D&O cover among UK directors

Widespread misunderstanding of D&O cover among UK directors

A vast majority of UK directors have a fundamental misunderstanding of their D&O insurance coverage and could be left footing the bill for legal claims potentially running into millions. This was the finding of a recent survey of UK board members. It found that as many as 83% are unaware that their D&O insurance is unlikely to cover them should…

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon has offered to sell Willis Towers Watson’s (WTW) entire large multinational P&C portfolio in Germany, France, Spain and the Netherlands, as well as Willis Re and the broker’s French unit Gras Savoye to gain approval from EC competition regulators, according to Reuters sources.

Italian risk managers must brace for further challenges in D&O

Italian risk managers must brace for further challenges in D&O

Italian risk managers must brace for further challenges in D&O

European D&O insurance, more than other financial lines, is experiencing a complicated and challenging phase, because of rising claims during the last decade and the sometimes brutal impact of the hard market, as clearly shown by the lively discussion at last month’s Cyber and Financial Lines conference organised by German risk and insurance management association GVNW. A recent webinar on…

UK insurers given a year to improve operational resilience

UK insurers given a year to improve operational resilience

UK insurers given a year to improve operational resilience

Regulators in the UK have given financial institutions, including banks and insurers, a one-year deadline to improve their operational resilience. The policy statement (PS21/3) has been jointly issued by the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England. The rules come into effect on 31 March 2022, by which time firms must be able…

Italian listed companies face up to the big risk picture

Italian listed companies face up to the big risk picture

Italian listed companies face up to the big risk picture

The Global Risk Report, published every year by the World Economic Forum (WEF) in collaboration with Marsh & McLennan and Zurich, captures global businesses’ perceptions of major risks and their potential medium-term impacts. But what happens when we move from perceptions to actions, when organisations translate their intuitions and forecasts into concrete data? To understand this, Marsh elaborated with Risk…

GVNW survey confirms reputation of industrial insurers is in tatters

GVNW survey confirms reputation of industrial insurers is in tatters

GVNW survey confirms reputation of industrial insurers is in tatters

The huge reputational damage suffered by German industrial insurers during the recent hardening market has been clearly confirmed by the latest member survey carried out by German risk and insurance management association GVNW. A shocking 85% of the 100 GVNW members who took part in the survey rated the reputation of the industrial insurers during the recent year-end renewals as…

Lack of legacy and commitment to claims key for BHSI growth in Germany: Krause

Lack of legacy and commitment to claims key for BHSI growth in Germany: Krause

Lack of legacy and commitment to claims key for BHSI growth in Germany: Krause

Berkshire Hathaway Specialty Insurance (BHSI) launched into Germany in 2016 and is well on track to establishing itself as a serious lead multi-line carrier for corporate insurance managers in the country, despite the many challenges posed by the currently tough market, believes Andreas Krause, country manager in Germany for the US-based group. Mr Krause told Commercial Risk that BHSI Germany…

Beazley launches D&O products for US SPACs

Beazley launches D&O products for US SPACs

Beazley launches D&O products for US SPACs

A directors and officers (D&O) product suite designed specifically for US-domiciled special purpose acquisition companies (SPACs) has been launched by Beazley. According to the insurer, the new D&O products “offer dedicated coverage for either the individuals, or the entity and individuals combined, to provide greater transparency and clarity about insurance coverage, from the initial public offering to the initial business…

1 2 3 51