Act in haste, repent at leisure

Act in haste, repent at leisure

Act in haste, repent at leisure

The portents of a harshening market are here. Risk and insurance managers need to be fully aware of what is occurring and rapidly digest what it means for them. They must act swiftly and decisively, but most importantly of all, on a rational and well-thought-out basis, or face potentially disastrous consequences. William Congreve coined the phrase that sits so well…

Talking local, going global

Talking local, going global

Talking local, going global

The corporate world in Spain and Portugal, with many more mid-market players than large companies, has resulted in a very different landscape for risk managers. While natural catastrophes and cyber risks top the agenda, risk managers in Spain and Portugal are also concerned by political risk and its impact on their ability to do business, said Juan Aznar Gáldiz, country…

UK provides legal certainty for smart contracts and cryptoassets in landmark legal statement

UK provides legal certainty for smart contracts and cryptoassets in landmark legal statement

UK provides legal certainty for smart contracts and cryptoassets in landmark legal statement

In mid-November, the UK Jurisdiction Taskforce, part of the LawTech Delivery Panel of senior solicitors and barristers headed by chancellor of the High Court, Sir Geoffrey Vos, published a landmark legal statement, providing long -awaited clarity on how cryptocurrencies, distributed ledger technology and smart contracts might be treated under English law. The statement follows several rounds of public and private…

In search of nirvana: How to identify, measure and manage supply chain risk

In search of nirvana: How to identify, measure and manage supply chain risk

In search of nirvana: How to identify, measure and manage supply chain risk

Supply chain risk has shot up the corporate agenda in recent years as the dual trends of globalisation and relentless pressure on cost control have posed a serious threat to the ability of apparently sophisticated, and well-managed, multinational corporations to deliver their basic product and service, on time and to the quality required. Recent events such as the Thai floods…

The changing shape of environmental regulation – a challenge for multinational businesses

The changing shape of environmental regulation – a challenge for multinational businesses

The changing shape of environmental regulation – a challenge for multinational businesses

Environmental regulation is changing at an exponential rate. Around the world there has been a significant strengthening of regulation, consisting not only of tighter new rules but also more rigorous, consistent enforcement. For multinational organisations, the consequences of not being prepared locally and the impact of an environmental incidents can be severe. Traditional risk management techniques may leave companies exposed…

Smart motorways: in need of improvement?

Smart motorways: in need of improvement?

Smart motorways: in need of improvement?

As the UK government confirms that it will undertake an urgent review of smart motorways following several tragic deaths, what is the future viability of such roads? First of all, what is a smart motorway? Smart motorways, or managed motorways as they were previously called, were first introduced in the UK in 2006. Across Europe, elements of smart motorways have…

Interdependency of risks a key concern for insurers across Europe

Interdependency of risks a key concern for insurers across Europe

Interdependency of risks a key concern for insurers across Europe

Michael Rüsch, recently appointed country manager for HDI Global in Switzerland, spoke to Commercial Risk Europe about the challenges facing risk managers in today’s rapidly changing environment. As the weather across Europe turns autumnal, it is hard to remember back to a summer of record heat. But for insurers and risk managers alike, the hot summer (yet again) was a…

Typhoon Hagibis – alert on potential issues

Typhoon Hagibis – alert on potential issues

Typhoon Hagibis – alert on potential issues

Typhoon Hagibis made landfall in eastern Honshu, Japan on 12 October, bringing heavy rainfall, flooding and mudslides in rural areas. The typhoon reportedly affected more than six million people, leaving thousands without electricity and water for a few days. The potential exposure for insurers from the typhoon is likely to be significant. Hagibis is reported to be as powerful as…

Talk, talk, talk

Talk, talk, talk

Talk, talk, talk

Communication is vital for the relationship between insured and insurer to remain sustainable, suggests Sharon van Herel, Netherlands country manager of Risk Frontiers Europe sponsor HDI Global. The importance of a sustainable insurance market cannot be overstated and risk managers need to work in partnership with insurers to enable a consistent service and secure claims payments, according to Sharon van…

Smaller firms more likely to be impacted by insurer mergers, say risk managers

Smaller firms more likely to be impacted by insurer mergers, say risk managers

Smaller firms more likely to be impacted by insurer mergers, say risk managers

Small and medium-sized (SME) companies are most likely to be impacted by the recent swathe of mergers and acquisitions among insurers and brokers, according to a group of Italian risk managers taking part in our Risk Frontiers Europe survey. Alessandro De Felice, president of Italian risk management association Anra and chief risk officer at Prysmian Group, said recent consolidation in…

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