Insurance regulation in Africa: CIMA – the benefits and challenges

Insurance regulation in Africa: CIMA – the benefits and challenges

Insurance regulation in Africa: CIMA – the benefits and challenges

Understanding changing insurance markets and regulatory developments is critical to making sure multinational programmes are compliant and competitive, no matter where they are located, and the implications can be challenging. Insurance regulators are increasingly looking to nurture risk capacity, cultivate insurance expertise and retain premiums within their insurance markets – and this can have important consequences for multinational companies, particularly…

AIG appoints North America property chief underwriting officer

AIG appoints North America property chief underwriting officer

AIG appoints North America property chief underwriting officer

Jamie Miller has joined American International Group (AIG) from Swiss Re to become AIG’s North America property chief underwriting officer, general insurance. He will report to Tom Bolt, chief underwriting officer, general insurance, and to Lex Baugh, CEO of North America general insurance. Mr Miller has more than 35 years’ industry expertise and a successful track record leading global teams.…

Multinational insurance: what can go wrong when something’s not right

Multinational insurance: what can go wrong when something’s not right

Multinational insurance: what can go wrong when something’s not right

The fast-paced expansion of regulatory change and corresponding scrutiny worldwide make it increasingly challenging to manage multinational insurance programmes. While regulatory landscapes continuously shift, the need for companies to carefully consider how they structure multinational insurance remains constant. There are many options – ensconcing coverage in multiple local policies, relying on a single global policy, or combining both in a…

EMEA cyber claims escalate in 2017: AIG

EMEA cyber claims escalate in 2017: AIG

EMEA cyber claims escalate in 2017: AIG

AIG’s EMEA division dealt with as many cyber claims in 2017 as the previous four years combined, partly driven by increased claims frequency, according to new figures. The unit said specialist claims staff handled the equivalent of one cyber insurance claim for every working day last year. Ransomware was found to be the major loss driver. It accounted for 26%…

Cyber: Facing a new frontier of risk

Cyber: Facing a new frontier of risk

Cyber: Facing a new frontier of risk

Businesses around the world are beginning to realise the full-scale enormity of cyber risk. This collective realisation is spurring the urgent need for a larger discussion – one that takes place not in IT offices, but in the boardroom. Data breaches are no longer simply an issue for IT staff. Take, for example, the Equifax data breach in May 2017,…

Supporting the business traveller

Supporting the business traveller

Supporting the business traveller

Employees of multinational firms are no strangers to the needs and demands of business travel, whether it be sales teams, IT teams, or senior managers. While most business travellers are generally pretty savvy, it is hard to prepare for every scenario. In the event of an incident when travelling, employees want to be sure that they are properly cared for…

Political risk: Insights for your firm

Political risk: Insights for your firm

Political risk: Insights for your firm

Today, as many businesses wonder how to thrive amid political uncertainty, companies with experience in emerging markets can offer insights to help with the changing business environment. One common solution chosen by companies operating in emerging markets is political risk insurance. Political risk insurance both helps protect businesses against the risk of losing investments and helps companies secure funds for…

Future looking good for global programmes

Future looking good for global programmes

Future looking good for global programmes

Is there an increased demand for global solutions from continental European organisations with global insurance programmes? Or are companies sticking with local programmes/covers? Absolutely, we still see a move towards global programmes. The number of underlyers that we issue that are part of global programmes has increased year on year for as long as I can remember (5% last year).…