Increasing use of existing captives to tackle hard market, Marsh survey finds

Increasing use of existing captives to tackle hard market, Marsh survey finds

Increasing use of existing captives to tackle hard market, Marsh survey finds

The majority of captive owners plan to increase their use of captives in response to changing insurance market conditions, according to a survey of 1,240 Marsh-managed captives. More than half (59%) expected to expand their captive use by adding more lines of coverage, increasing retentions in the captive, or forming an additional captive, while 38% said they had no plans…

Sompo ready to ramp up European and international corporate business

Sompo ready to ramp up European and international corporate business

Sompo ready to ramp up European and international corporate business

Sompo International, a global specialty provider of property and casualty (re)insurance, is about to embark on a significant communications effort to “demystify” the organisation for brokers and risk managers, according to Julian James, CEO of international insurance. Sompo Holdings, the parent of Sompo International, has made no secret of its ambition to become a top 10 global insurance group by…

Changing tariffs affect Indian global property programme local policies, says Willis Towers Watson

Changing tariffs affect Indian global property programme local policies, says Willis Towers Watson

Changing tariffs affect Indian global property programme local policies, says Willis Towers Watson

Global property programme local policies in India will require increased attention as a result of changing tariffs in the Indian insurance market, according to a whitepaper from Willis Towers Watson. The paper notes that while some tariffs were reduced, most have increased as a result of property tariffs issued by the General Insurance Council. The paper, authored by Disha Sahni,…

The importance of context

The importance of context

The importance of context

There is much debate around the topic of non-admitted insurance when it comes to global insurance programmes, but ultimately if sustainable solutions are to be provided, then it is necessary to understand and respect the regulations in the context in which companies buy insurance.

Alternative solutions for captives in a changing marketplace

Alternative solutions for captives in a changing marketplace

Alternative solutions for captives in a changing marketplace

The impact of a changing insurance market, exacerbated by the global Covid-19 pandemic, means that insurance and reinsurance buyers are increasingly exploring alternative solutions. Rob Turner, chief underwriting officer and global head of structured risk solutions at AXA XL, explains how these solutions can work for captive owners. There are several strategies and options available to captive owners when considering…

Learning lessons from Covid-19

Learning lessons from Covid-19

Learning lessons from Covid-19

With more than 100 years since the last global pandemic, it is not surprising that words like “unprecedented” are being used to describe the current coronavirus crisis, according to Claire McDonald, UK and Ireland country manager for Risk Frontiers Europe sponsor HDI Global. “It’s beyond our collective consciousness,” she says. “We have slightly reworked history. You may have heard people…

Risk managers showing their value through Covid-19 crisis

Risk managers showing their value through Covid-19 crisis

Risk managers showing their value through Covid-19 crisis

Continuity is the key to success with Covid-19, Chris Staes of HDI Global being prepared and able to provide clients with business continuity when it comes to insurance requirements was essential in the early days of the Covid-19 crisis. The key to that, says Chris Staes, Belgium country manager of Risk Frontiers Europe sponsor HDI Global, was providing continuity to…

Cat among the pigeons

Cat among the pigeons

Cat among the pigeons

Brokers are not enjoying a great time currently, with questions raised again about conflicts of interest, inadequate transparency and the value that mega groups bring to the table for customers. Steve McGill has launched London-based international specialty broker McGill and Partners and vows to break the mould, especially in the larger corporate space. Commercial Risk Europe editorial director Adrian Ladbury…

The global and local elements of cyber risk

The global and local elements of cyber risk

The global and local elements of cyber risk

For multinational programmes, the need for global coverage combined with local policies and servicing is a constant thread, and nowhere is this more true than with cyber insurance. Cyber risks always have a global and a local dimension at the same time, hence the need for insurance to provide global coverage that can respond locally.

Financial interest clauses: viable, useful, but not a panacea

Financial interest clauses: viable, useful, but not a panacea

Financial interest clauses: viable, useful, but not a panacea

A financial interest clause (FINC) is not a panacea for issues of compliance and regulation in the context of a global insurance programme, but it is a viable proposition, according to Praveen Sharma, managing director, global leader of the insurance regulatory and tax consulting practice at Marsh. He added that FINCs should be used as a matter of last resort.…