Germany is far from out of the economic woods but a recent set of encouraging export numbers and upwardly revised GDP figures means that risk managers within one of Europe’s powerhouses can start to look forward with some optimism again. A marked recovery in the trade credit insurance market is a help too, reports Tony Dowding.
Global programmes are top of the European risk management news agenda currently as buyers, brokers and insurers attempt to find a more effective way of organising these key risk and insurance management tools in the global economy.
The London and International Insurance Brokers’ Association [LIIBA] has teamed up with TMF VAT & IPT Services, a company that specialises in tax compliance services for the insurance industry, to help its members calculate tax payable on insurance policies around the world on a territory-by-territory basis.
The implementation of economic incentives for companies, and especially the prospect of paying lower insurance premiums, provides an efficient way to reduce workplace accidents, a new report says.
A new United Nations-backed study has estimated that the world’s top 3,000 companies by market capitalisation caused some $2.15tn of environmental damage in 2008, about one third of all damage caused by human activity.
The preliminary findings of the Italian antitrust authority’s probe into motor-liability insurance in Italy suggest that the body may act to increase competition in the sector and potentially restrict motor premium increases due to concerns it has over industry practices.
The news that the European Captive Insurance and Reinsurance Owners’ Association [ECIROA] has joined the International Association of Insurance Supervisors [IAIS] to try and help push forward its planned initiative to seek greater clarity and certainty on global programmes has been met with a lukewarm response by leading risk managers and insurers.
The German risk and insurance management community have welcomed calls from their outgoing president Stefan Sigulla and Torsten Jeworrek, board member at Munich Re, for a new spirit of partnership and transparency to try and tackle emerging risks and enable insurers to keep up with the ever-quickening pace of change with innovative risk transfer solutions.
Europe is moving ‘inexorably’ towards an increase in the breadth of legal liability and levels of compensation, along with a more uniform approach to liability, David Lewin, Managing Director, International Casualty Specialty at Guy Carpenter & Co told Commercial Risk Europe.
Adrian Ladbury met Philippe Rocard, CEO of AXA Corporate Solutions, in the sunshine of this year’s Monte Carlo. Rendez-Vous to discuss latest developments within his company, the likely impact of Solvency II on the industrial insurance business, outlook for year-end renewals and efforts to seek greater clarity on global programmes.