Insurance
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Lloyd’s posts £516m loss in 2011 fueled by record £4.6bn cat claims
Lloyd’s posted a loss of £516m (€619m) in 2011 and incurred £4.6bn (€5.3bn) of catastrophe claims, making it the largest…
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Threat of imminent severe credit crisis rising, Europe most at risk–Moody’s
Moody’s has warned that macro-economic conditions suggest a second severe credit crisis is increasingly likely, particularly in Europe. Whilst credit…
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Business risk from climate change laid bare at European Parliament meeting
A climate change researcher has warned that global warming poses a risk to companies with energy pipelines and other infrastructure…
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Spain’s Insurance Compensation Consortium cracks down on claims conditions
In worrying news for insurance buyers with operations in Spain, the country’s Insurance Compensation Consortium, Consorcio de Compensacion de Seguros,…
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Unwanted volatile capital adequacy at European insurers warns Fitch
A rebound in solvency ratios at European insurers reflects unwanted volatile capital adequacy, Fitch has warned.
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Italian insurers to remain under pressure from sovereign risk and Solvency II
Italian insurers will remain under pressure for the next couple of years as sovereign debt risk and Solvency II take…
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UK business could face flood cover problems and price hikes by summer
UK business and homeowners could face difficulties in obtaining flood risk cover and prohibitively expensive insurance premiums in as little…
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Switzerland looks set for mandatory quake insurance
The passing by the Swiss Parliament of a bill that creates a mandatory earthquake insurance scheme in the country is…
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ABI calls for government reform of ‘overzealous’ health and safety rules
The Association of British Insurers (ABI) has called on its government to implement planned reforms to help business free itself…
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Corporate round-up
Zurich helps customers solve captive collateral challenge with eZ Trust, Aon appoints Darren Marshall as power construction leader, Miller Chief…
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UK business more pessimistic about economic recovery finds QBE survey
Business is more pessimistic about a quick recovery for the UK economy than this time last year, with 77% expecting…
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Hardy bows to cat pressure as CNA snaps it up for £143m
The boards of CNA Financial Corporation in the US and Hardy Underwriting Bermuda Limited have reached agreement on the terms…
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Fitch upgrades SCOR to ‘A+’ with stable outlook
Fitch has upgraded SCOR's Long-term Issuer Default Ratings (IDRs) and Insurer Financial Strength (IFS) ratings to 'A'+ from 'A' with…
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Solvency II closer with Omnibus II approval, but concerns remain
Solvency II moved a step closer yesterday as the Omnibus II Directive was approved by the European Parliament’s Economic and…
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Draft EC rules to beef up data breaches would hit business, experts warn
A draft pan European cross-industry data privacy and protection regulation that plans to introduce a much more aggressive regime to…
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BCI reports positive action on supply chains following earthquake lessons
Most firms that suffered supply chain disruption as a result of the 2011 earthquake disasters in Japan and New Zealand…
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BSI seeks support for new corporate governance standard planned for 2013
BSI, the global standards organisation, announced this week that it will launch a new governance standard by early 2013.
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Spanish insurers opt for head in sand strategy as debt crisis deepens-Comment
Insurance companies in Spain operate today in a stagnated economy with little hope of growth in the foreseeable future. The…
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Corporate round-up
Zurich appoints Anne Charon as CEO of French General Insurance business, Chartis appoints new Executive Director, Commercial Lines UK, XL…
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Credit insurer Atradius works at communication to avoid sectors past mistakes
Dutch-based commercial credit insurer Atradius says it has improved communications with clients in order to consult them much earlier if…