Cyber: A threat without borders

Cyber: A threat without borders

Cyber: A threat without borders

Most cyber attacks are multinational and show little regard for borders. As a result, cyber risk transfer is ideally suited to a multinational programme, explains Mark Camillo, head of cyber, AIG. The WannaCry ransomware attack was unprecedented in its scale when it spread around the world in 2017. It is estimated that around 200,000 computers were infected across 150 countries,…

AM Best affirms AIG’s ratings but warns improvement needed in general insurance

AM Best affirms AIG’s ratings but warns improvement needed in general insurance

AM Best affirms AIG’s ratings but warns improvement needed in general insurance

AM Best has affirmed the ratings of AIG and most of its subsidiaries with a stable lookout, but warned that failure to make improvements in general insurance could cause negative rating action. The ratings agency has affirmed AIG’s ‘bbb’ long-term issuer credit rating (ICR) and its A financial strength ratings. It has also affirmed the ‘a’ long-term ICRs of most…

The curious contradiction of M&A risk transfer

The curious contradiction of M&A risk transfer

The curious contradiction of M&A risk transfer

Mary Duffy, global head of M&A insurance at AIG, explains why it pays for risk managers to be front and centre during an acquisition or divestiture. Risk and insurance managers are central to placing international programmes, managing relationships with insurance and broking partners and coordinating the claims process. But it is a curious contradiction that the same is often not…

Only 14% of D&Os understand cover

Only 14% of D&Os understand cover

Only 14% of D&Os understand cover

Risk managers should help directors and officers better understand their D&O insurance cover, according to a report from Airmic and AIG. The results of Airmic’s annual survey suggest that further work is needed to ensure directors and officers are aware of the evolving threats they face and insurance they have in place. Only 14% of Airmic members were confident that…

Understanding choke points

Understanding choke points

Understanding choke points

Kristof De Bremme, global head of marine, AIG and Dr Robin Niblett, director, Chatham House explain how the growth of intra-regional trade is introducing new exposures and choke points as a result of increased volumes and changing geopolitics. Global trade has never been static but is now witnessing more change than ever, driven by a multitude of factors from the…

AIG appoints global head of A&H general insurance

AIG appoints global head of A&H general insurance

AIG appoints global head of A&H general insurance

AIG has appointed Edward Levin as global head of accident and health (A&H), general insurance. In this new role, he will be responsible for the global A&H portfolio, including distribution and underwriting strategy. According to AIG, he will develop a global A&H strategy, identify growth opportunities and create a diverse distribution pipeline. He will report to Christopher Townsend, chief executive…

Burning issues for environmental claims

Burning issues for environmental claims

Burning issues for environmental claims

There is a common view that environmental exposures are only really an issue for very large companies in certain sectors, notably oil and gas. But this stereotype does not stand up in the light of European environmental impairment liability claims that we are now seeing. Now in its second year, AIG’s European Environmental Impairment Liability (EIL) Claims Intelligence report reflects…

AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

US insurer AIG has appointed Sachin Shah as the chief executive of its Asia-Pacific general insurance business. Mr Shah, who was formerly the president, chairman and chief executive of MetLife Japan, will take up his new role at the end of December, subject to regulatory approval. He will be based in Singapore and report to AIG’s general insurance CEO Christopher…

The importance of a consistent multinational claims service

The importance of a consistent multinational claims service

The importance of a consistent multinational claims service

A consistent claims service is essential for multinational clients wherever in the world a loss occurs. The aim of a claims service in the event of a major catastrophic loss is to minimise the impact of business interruption, preserve brand and reputation, and work closely with all parties involved to get clients’ facilities and operations back up and running as…

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