GDPR fines up 39% in 2020

GDPR fines up 39% in 2020

GDPR fines up 39% in 2020

Regulatory fines for data breaches under the GDPR increased 39% in Europe during the past year to €158.5m, according to new research from law firm DLA Piper. The company said regulators “tested their powers” under the GDPR in 2020 after a slow start during the regulation’s first 20 months when fines totalled €114m. Total fines levied since the GDPR was…

AMRAE’s virtual conference to boost risk debate as pandemic rolls on

AMRAE’s virtual conference to boost risk debate as pandemic rolls on

AMRAE’s virtual conference to boost risk debate as pandemic rolls on

French risk management association AMRAE will discuss the implications of Covid-19, as well as focus on other related risks such as environmental, social and corporate governance issues, climate change, the future of capitalism and supply chain disruption, at its online conference early next month. The association’s virtual annual conference takes place on February 3 and 4, and is free to…

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

Cyber incidents have retained their position as the number one risk facing businesses in Europe during 2021, with business interruption (BI) in second place and pandemic outbreak third, finds a poll of risk experts and business leaders by Allianz Global Corporate & Specialty (AGCS). BI’s position is unchanged from last year, while pandemics are a new entry in the top…

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

The world will be more unstable, less cooperative and more prone to crises this year, with the risk of interstate conflicts higher than it has been for decades, warns Risk Advisory’s Strategic Outlook 2021. The risks consultancy’s report says that the global security and geopolitical outlook is broadly worsening this year in North America, west and central Africa, south Asia…

Reinsurance market firms at 1 Jan but buyers fare better than first feared, says Willis

Reinsurance market firms at 1 Jan but buyers fare better than first feared, says Willis

Reinsurance market firms at 1 Jan but buyers fare better than first feared, says Willis

The reinsurance market firmed at 1 Jan renewals but price increases and other changes were less onerous than buyers initially feared, according to Willis Re. The reinsurance broker’s 1st View treaty renewals report explains that reinsurers largely arrested the persistent soft market trend of recent years at 1 Jan. It says that poor underwriting results driven by elevated levels of…

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

The Italian and Spanish risk and insurance sectors have joined their peers in the UK, Germany and France in calling for state support to help companies cope with future systemic risks following the catastrophic impact of Covid-19. But it seems that focus is shifting away from demand for monoline state-backed insurance pools towards broader-based incentives for greater risk management, self-insurance…

Scor names French Prime Minister’s former chief of staff as next CEO

Scor names French Prime Minister’s former chief of staff as next CEO

Scor names French Prime Minister’s former chief of staff as next CEO

Scor has announced that industry outsider Benoît Ribadeau-Dumas will succeed Denis Kessler as CEO in 2022, after first taking on the role of deputy chief exec from 1 January 2021. Mr Ribadeau-Dumas will join Scor after stepping down as chief of staff to the French Prime Minister in July 2020. The reinsurer said his appointment follows a rigorous recruitment exercise.…

French data regulator fines Google and Amazon €135m for cookie breaches

French data regulator fines Google and Amazon €135m for cookie breaches

French data regulator fines Google and Amazon €135m for cookie breaches

Google has been fined €100m by French data regulator CNIL for placing advertising cookies without consent on search engine google.fr, and dished out a further €35m penalty to Amazon Europe for similar breaches of national law. The fines are based on breaches of French law before the introduction of Europe’s General Data Protection Regulation (GDPR), but CNIL has since amended…

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial (GC&C) has obtained ISO 9001:2015 certification for its risk engineering and loss prevention services in a number of countries around the world. The P&C unit has received the certification for its central team, as well as operations in Italy, Spain, Germany, Austria, central and eastern Europe, Russia, Asia and the UK. It was previously certified…

AMRAE celebrates boost to captives in France as mandatory PPP scheme postponed

AMRAE celebrates boost to captives in France as mandatory PPP scheme postponed

AMRAE celebrates boost to captives in France as mandatory PPP scheme postponed

France’s risk management association AMRAE has welcomed plans by its government that should make it easier to set up captives and other self-insurance strategies in France. The announcement from French economy minister Bruno Le Maire also made clear that any public-private partnership (PPP) scheme in France for pandemic risk will not demand mandatory premiums. Mr Le Maire revealed an agreement…

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