The Adidas case – what does it mean for companies with multinational insurance programmes?

The Adidas case – what does it mean for companies with multinational insurance programmes?

The Adidas case – what does it mean for companies with multinational insurance programmes?

Can you summarise what happened in the Adidas case? David Halperin: The sportswear manufacturer suffered a fire at its warehouse in India in 2009, for which both its German parent (Adidas Germany) and Indian subsidiary (Adidas India) received insurance indemnification. Adidas India received $7m under a property policy issued to it in India (the Adidas India policy), covering loss caused…

Why business travel insurance matters

Why business travel insurance matters

Why business travel insurance matters

The unfolding coronavirus (Covid-19) crisis has focused attention on the speed with which such outbreaks can spread globally. It has also shown just how complex business travel risks have become. Despite foreign governments outlining plans for the repatriation of their citizens, for the individual overseas traveller caught up in the crisis it would have been difficult to source information and…

A holistic approach to cyber risk management

A holistic approach to cyber risk management

A holistic approach to cyber risk management

The digital revolution has meant that organisations are becoming increasingly connected, businesses are more open, and many companies have longer-term relationships with customers than ever before. At the same time, cybercriminals are constantly expanding their own scope and capabilities, leading to an unprecedented level of sophistication. This, coupled with an increasingly complex regulatory environment, means that companies of all sizes…

Making claims globally consistent and locally responsive

Making claims globally consistent and locally responsive

Making claims globally consistent and locally responsive

The promise to pay claims is what risk managers are buying when they take out an insurance policy. Massimiliano Malinverno, head of global programmes – claims at AXA XL, explains how managing claims within a global programme can provide risk managers with a greater degree of oversight, control and authority. And, he says, a coherent, swift and proactive approach from…

Novel coronavirus outbreak: implications for international trade and shipping

Novel coronavirus outbreak: implications for international trade and shipping

Novel coronavirus outbreak: implications for international trade and shipping

The recent outbreak of a novel coronavirus in Wuhan, China has received worldwide attention and is increasingly putting a strain on businesses. On 30 January 2020, the World Health Organization declared the outbreak a Public Health Emergency of International Concern. The outbreak of any virulent disease presents the trading and shipping industries with various challenges, as was the case with…

Aviation risk managers need to consider coronavirus impact on sector

Aviation risk managers need to consider coronavirus impact on sector

Aviation risk managers need to consider coronavirus impact on sector

In 1996, a 32-year-old woman died of a drug-resistant strain of tuberculosis after flying with a US carrier from Chicago to Hawaii. The Centre for Disease Control traced all 249 passengers and found that six of them, some as far as 13 rows behind the woman, had caught the pathogenic bacterium that causes tuberculosis. As a result of this incident,…

Digital capabilities transforming global programmes

Digital capabilities transforming global programmes

Digital capabilities transforming global programmes

For some time, there has been a growing demand from risk managers and brokers for greater transparency of data when it comes to global programmes. They have also been looking for better-quality and cleaner data. That demand for transparency has largely been met by most carriers in the global insurance programme world, and data is now routinely shared. As a…

Considerations of the risk manager on a D&O programme – Insurance premium tax

Considerations of the risk manager on a D&O programme – Insurance premium tax

Considerations of the risk manager on a D&O programme – Insurance premium tax

For risk managers, the line of insurance that guarantees the most attention and focus of the board is undoubtedly directors and officers (D&O) liability. In the current hardening market, terms and conditions are paramount, but when looking at the various ways in which a global insurance programme can be structured, it is important that the risk manager is fully aware…

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

It is said that three in every four (or as many as 80% of) corporate insurance buyers have some form of exposure to weather-related risk. Natural catastrophes cause widespread devastation, tragic loss of life and huge economic losses. Last year, insured losses from natural catastrophes totalled more than $75bn, according to estimates. Christelle Castet, climate risk specialist at AXA Climate…

Best practice for Belt and Road megaprojects

Best practice for Belt and Road megaprojects

Best practice for Belt and Road megaprojects

The Belt and Road’s major infrastructure and energy projects stand to benefit from the support of risk and insurance partners during the lifecycle of a project, explains Brian Botkin, global head of multinational, global financial lines, AIG. China’s Belt and Road Initiative (BRI) continues to attract international attention and grab headlines. Determining exact figures for the vast macroeconomic initiative is…

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