Cybersecurity: Setting the tone at the top

Cybersecurity: Setting the tone at the top

Cybersecurity: Setting the tone at the top

An organisation’s approach to cybersecurity must be embedded within its overall approach to enterprise risk management, with boards responsible for enabling the right culture and frameworks, explain Sebastian Hess and Stephen Morton. Companies and their boards are faced with a highly dynamic cyber risk landscape, including more targeted ransomware threats and, more recently, exposures associated with increased remote working. The…

Global programme networks: quality matters (not just size)

Global programme networks: quality matters (not just size)

Global programme networks: quality matters (not just size)

Risk managers require many things from their insurer when it comes to serving their global insurance programmes. To begin with, they are looking for a network that covers all the territories in which their company needs insurance and risk management services. But it is not simply about the size of the network and the number of territories covered. Risk managers…

From one thing to another: some risk and safety implications when repurposing operations to support Covid-19 relief

From one thing to another: some risk and safety implications when repurposing operations to support Covid-19 relief

From one thing to another: some risk and safety implications when repurposing operations to support Covid-19 relief

As Covid-19 continues to impact all of us around the world, many companies are mobilising to respond to the sudden, urgent need for vastly greater stocks of diverse medical supplies and equipment. Breweries and distilleries are turning from producing beer and spirits to making hand sanitisers and other alcohol-based disinfectants. Cosmetic companies are pivoting from face creams and perfumes to…

International public companies and US securities class actions – a hidden risk?

International public companies and US securities class actions – a hidden risk?

International public companies and US securities class actions – a hidden risk?

D&O liability exposures faced by internationally listed companies outside the US have increased during the past few years, and will continue to do so in the current environment. Much of this is related to the severity of securities class actions. In this article, we explore an area of emerging risk within securities class actions for companies and Boards: American Depository…

A new level of cooperation – the Covid-19 impact on IPT

A new level of cooperation – the Covid-19 impact on IPT

A new level of cooperation – the Covid-19 impact on IPT

Headlines around Covid-19 and the insurance industry are importantly focused in the main around potential claims, coverages and future pandemic solutions. However, both personal and corporate policyholders require access to ongoing insurance cover. Insurers providing global insurance programmes continue to be responsible to ensure validity of cover through compliant policies, which involves reporting and settlement of taxes and charges on…

Cybersecurity in the time of coronavirus

Cybersecurity in the time of coronavirus

Cybersecurity in the time of coronavirus

Businesses globally are implementing business models involving far more remote workers than ever anticipated. IT and management teams are working hard to facilitate this. In the rush to keep businesses working, there is a significant risk that security will not be properly thought through.

Simplifying the captive reinsurance process

Simplifying the captive reinsurance process

Simplifying the captive reinsurance process

In a hardening market with terms and conditions being tightened and exclusions increasing, it is perhaps not surprising that organisations are increasingly considering the use of captives. Two recent surveys of risk and insurance managers in the UK and Germany, carried out by Airmic and GVNW, showed that many businesses (65% UK, 53% Germany) are exploring alternative risk transfer solutions,…

Financial Interest Clauses – recent developments affecting multinational insurance programmes

Financial Interest Clauses – recent developments affecting multinational insurance programmes

Financial Interest Clauses – recent developments affecting multinational insurance programmes

International Programme News: We understand that a recent tax decision in India addressed Financial Interest Clauses (FICs) in multinational insurance programmes. Can you summarise what happened in that case? David Halperin: The sportswear manufacturer Adidas 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…

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