Security risk alliance opens Paris and Frankfurt desks

Security risk alliance opens Paris and Frankfurt desks

Security risk alliance opens Paris and Frankfurt desks

Medical and security specialists International SOS and Control Risks have strengthened their collaboration with the launch of two new desks in European cities Paris and Frankfurt. The new units will be serviced in local languages and add to existing security desks in Tokyo, Seoul and Beijing established in 2012. Mick Sharp, COO of travel security at International SOS and Control…

France to win World Cup based on insurable value, predicts Lloyd’s

France to win World Cup based on insurable value, predicts Lloyd’s

France to win World Cup based on insurable value, predicts Lloyd’s

Research from Lloyd’s predicts that France will win the 2018 Fifa World Cup, based on the insurable value of its players. The same analysis successfully predicted reigning champions Germany would take the trophy home in 2014. This year’s research shows that France at £1.4bn, England at £1.17bn and Brazil at £1.1bn have the three most expensive squads by insurable value.…

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris are the most exposed European cities to a set of 22 risks, with a combined $24.6bn of annual GDP – or a third of Europe’s total losses – under threat, according to new research from Lloyd’s and the University of Cambridge. The Lloyd’s City Risk Index finds that market crash, cybercrime and floods are the top…

XL shareholders approve AXA’s $15.3bn offer

XL shareholders approve AXA’s $15.3bn offer

XL shareholders approve AXA’s $15.3bn offer

XL’s shareholders have approved the $15.3bn all-cash offer from AXA to buy the Bermudian firm. The deal is now expected to complete in the second half of this year but is still subject to regulatory approval. XL Group’s chief executive officer, Mike McGavick, said: “We are pleased with our shareholders’ vote of confidence in supporting all matters, including the AXA…

Bouquot continues as AMRAE president

Bouquot continues as AMRAE president

Bouquot continues as AMRAE president

Brigitte Bouquot was re-elected as president of French risk management association AMRAE during its general assembly last month. At the meeting, AMRAE members also chose three new board members. They are: Zaiella Aissaoui, director of risks and insurance at Bouygues Construction; Philippe Cotelle, director of risk and insurance at Airbus Defence and Space; and Estelle Josso, director of insurance and…

European countries top FM Global’s resilience index but struggle on cyber risk

European countries top FM Global’s resilience index but struggle on cyber risk

European countries top FM Global’s resilience index but struggle on cyber risk

Business resilience to risk and disruption is highest in Switzerland, followed by Luxembourg and Sweden, finds a global index of 130 countries and jurisdictions published by FM Global. However, European countries have deteriorated when it comes to cyber resilience. Myanmar, Nigeria and Madagascar were the bottom three ranked countries in the overall index. Based on 12 measures of resilience across…

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

SCOR has reorganised its growing SCOR Business Solutions (SBS) unit in a move it says will make the firm more relevant to customers, be easier for brokers to use and help deliver planned growth in the large global corporate primary market. The Paris-based group said that in line with its current strategic ‘Vision in Action’ plan, it is “enhancing the…

Global rates rise for second quarter but European market remains soft

Global rates rise for second quarter but European market remains soft

Global rates rise for second quarter but European market remains soft

Global commercial insurance rates have risen for the second consecutive quarter, up 0.9% on average, driven by increases in property business and finpro lines, according to Marsh. However, overall pricing continues to fall in continental Europe, even though the rate of decline slowed again, the broker’s global insurance market index shows. The rise in global commercial insurance pricing was driven by…

GDPR fines insurable in just two European countries: Aon report

GDPR fines insurable in just two European countries: Aon report

GDPR fines insurable in just two European countries: Aon report

Fines under the EU’s General Data Protection Regulation (GDPR) will only be insurable in two European countries, according to analysis by Aon and law firm DLA Piper. In 20 of the 30 countries analysed, fines – which could be as high as €20m or 4% of a group’s global turnover – will not be insurable. Only companies in Finland and…

Whistleblowing trend drives D&O concerns

Whistleblowing trend drives D&O concerns

Whistleblowing trend drives D&O concerns

With whistleblowing set to increase throughout Europe following plans recently announced by the EC, companies are advised to keep a close eye on proceedings and growing D&O risk. Recent years have seen regulators turn to whistleblowing to unveil corporate misconduct and wrongdoing, and aid investigations and prosecutions. This has seen more and more governments introduce whistleblowing protections – including France,…

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