Credibility and predictability are everything in global programmes

Credibility and predictability are everything in global programmes

Credibility and predictability are everything in global programmes

Helene Westerlind, a Swedish citizen, joined Zurich as liability claims adjuster in 2003 before becoming a liability underwriter. Between 2008 and 2016 she held various leadership roles within Zurich Global Corporate, both in operations and underwriting services. In September 2016, Ms Westerlind was offered a new role as global head of international programmes within Zurich’s new commercial insurance business operation.…

Pension Protection Fund compensation cap: unlawful?

Pension Protection Fund compensation cap: unlawful?

Pension Protection Fund compensation cap: unlawful?

Since 2005, the UK’s Pension Protection Fund (PPF) has paid compensation to members of defined benefit (DB) pension schemes where the sponsoring employer becomes insolvent. An advocate-general of the European Court has recently given an opinion that the compensation does not satisfy the EU Insolvency Directive. If Grenville Hampshire v the board of the Pension Protection Fund (Secretary of State…

The JCPOA: The new US position is now clear…sort of

The JCPOA: The new US position is now clear…sort of

The JCPOA: The new US position is now clear…sort of

As noted in our previous article on 4 May, US President Donald Trump threatened last January to withdraw from the Joint Comprehensive Plan of Action (JCPOA) if he did not think its flaws could be fixed. While the JCPOA does not contemplate withdrawal of a party, we suggested that, to President Trump, ‘withdrawal’ might mean reinstatement of all US sanctions…

The year of the underwriter

The year of the underwriter

The year of the underwriter

European risk managers need to start warning bosses about a more challenging year ahead in negotiations with insurers, and would be foolish to promise more cost savings because of ever-softening markets. But, based on comments made by figures such as Evan Greenberg of Chubb, Brian Duperreault of AIG and a group of three leading German insurance market insiders speaking to…

The insurer’s perspective

The insurer’s perspective

The insurer’s perspective

HDI Global is once again sponsor of our annual European Risk Frontiers survey of Europe’s leading risk managers. Alongside each national discussion with risk managers, we are also interviewing a senior executive from HDI to hear the insurer’s view on this year’s questions. Dirk Schilling, head of casualty guidance and captive services at HDI, gave Commercial Risk Europe editor Adrian…

Supply chain: a critical risk undergoing rapid evolution

Supply chain: a critical risk undergoing rapid evolution

Supply chain: a critical risk undergoing rapid evolution

Kenneth Travers, technical hazards team and global business impact specialist at AIG, took part in the panel discussion on risk identification and modelling at Commercial Risk Europe’s supply chain risk conference in London at the end of last year. As we prepare for this year’s event that will be held in London on 10 and 11 December, we asked Mr…

Bridging the protection gap with novel forms of risk transfer

Bridging the protection gap with novel forms of risk transfer

Bridging the protection gap with novel forms of risk transfer

Parametric insurance is insurance in which the payment is triggered by reference to a pre-determined parameter or ‘index’ that stands as a proxy for loss. For example, a policy designed to provide funding to a policyholder in flood or drought conditions could be triggered by excess or insufficient rainfall measured by a local weather station. Parametric insurance has wide-ranging applications,…

Iran sanctions: it’s still uncertain what will happen, but here’s what could happen

Iran sanctions: it’s still uncertain what will happen, but here’s what could happen

Iran sanctions: it’s still uncertain what will happen, but here’s what could happen

On 12 January this year, US President Trump announced his intention to not renew US sanctions waivers that underpin US participation in the Joint Comprehensive Plan of Action (JCPOA) for Iran if that agreement’s “terrible flaws” are not fixed. President Trump has also said that if he believes fixing the JCPOA is not within reach, he would withdraw from it.…

Managing the risks associated with workplace sexual harassment and misconduct around the world

Managing the risks associated with workplace sexual harassment and misconduct around the world

Managing the risks associated with workplace sexual harassment and misconduct around the world

Sexual abuse, harassment and misconduct continue to place higher up the political and social agenda globally, following a raft of allegations in ever-widening high-profile sectors. Increasing public awareness has burst the dam of secrecy, resulting in a tsunami of calls for greater transparency across many organisations and industries. As a consequence, corporate cultures must change to ensure appropriate safeguards are…

The insurability of regulatory fines and penalties – an Asian snapshot

The insurability of regulatory fines and penalties – an Asian snapshot

The insurability of regulatory fines and penalties – an Asian snapshot

As regulatory and criminal investigations into companies and individuals continue apace across the globe, so does the exposure of those involved, and their insurers. Whether fines and penalties are insurable is a complicated issue in many jurisdictions. Focusing on Asia in this article, we set out below a snapshot of the current position in China, Hong Kong, Malaysia, Singapore and…

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