Risk and insurance industry pins hopes on Ogden Rate change as review gets underway

Risk and insurance industry pins hopes on Ogden Rate change as review gets underway

Risk and insurance industry pins hopes on Ogden Rate change as review gets underway

A review of the UK’s personal injury discount rate, applied by courts to adjust for investment of large compensation awards, will be completed by 5 August 2019, the Lord Chancellor David Gauke has announced. In line with amendments to the Civil Liability Act passed in December 2018, the Lord Chancellor began the review within 90 days of the legislation. Consulting…

Dark privacy risk lays ahead, warns cyber expert

Dark privacy risk lays ahead, warns cyber expert

Dark privacy risk lays ahead, warns cyber expert

Dark privacy is set to become one of the biggest cyber risks facing business as data is increasingly used to influence human behaviour, according to a leading cybersecurity expert. A combination of cognitive bias, data mining and third-party access to personal data will increasingly make it possible to change behaviour and influence decision-making, according to Menny Barzilay, co-founder and chief…

Beazley integrates cyber covers for UK buyers

Beazley integrates cyber covers for UK buyers

Beazley integrates cyber covers for UK buyers

Beazley has made changes to its UK cyber insurance policies, integrating cover for cyber extortion, data recovery costs, business interruption, contingent business interruption and e-crime into the main policy rather than added as an endorsement. Beazley said this approach will be standard for UK businesses of all sizes. At the same time, the insurer has extended access to its Beazley…

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York is still the leading financial centre in the world, followed by London and Hong Kong, according to the 25th Global Financial Centres Index, published by Z/Yen Partners and the China Development Institute. According to the index, New York remains in first place, just seven points ahead of London, with Hong Kong four points behind London in third. Singapore…

Euler Hermes launches public access open data portal

Euler Hermes launches public access open data portal

Euler Hermes launches public access open data portal

Trade credit insurer Euler Hermes has released its open data platform for anyone to access, use and share its data on international B2B trade. Euler Hermes said the move gives public access to millions of exclusive datasets, and will help users make sense of international trade data, select the right prospects and do business with confidence. The insurer said its…

Many companies ‘not ready’ for most serious corporate risks: survey

Many companies ‘not ready’ for most serious corporate risks: survey

Many companies ‘not ready’ for most serious corporate risks: survey

A clear majority of board directors and general counsels (GCs) agree corporate risk has increased significantly in the past two to three years, and 30% fear their business is not prepared to tackle the most serious issues, according to a new report from Clyde & Co and Winmark…

VW and former CEO hit with new US dieselgate lawsuit

VW and former CEO hit with new US dieselgate lawsuit

VW and former CEO hit with new US dieselgate lawsuit

The US regulator has launched a legal suit against VW, alleging the German car manufacturer defrauded US bond investors in the diesel emission scandal. The case also cites former CEO Marin Winterkorn and two subsidiaries – Volkswagen Group of America Finance and VW Credit. The suit by the Securities and Exchange Commission (SEC) alleges that VW raised $13bn through corporate…