European countries top FM Global’s resilience index but struggle on cyber risk

European countries top FM Global’s resilience index but struggle on cyber risk

European countries top FM Global’s resilience index but struggle on cyber risk

Business resilience to risk and disruption is highest in Switzerland, followed by Luxembourg and Sweden, finds a global index of 130 countries and jurisdictions published by FM Global. However, European countries have deteriorated when it comes to cyber resilience. Myanmar, Nigeria and Madagascar were the bottom three ranked countries in the overall index. Based on 12 measures of resilience across…

Global rates rise for second quarter but European market remains soft

Global rates rise for second quarter but European market remains soft

Global rates rise for second quarter but European market remains soft

Global commercial insurance rates have risen for the second consecutive quarter, up 0.9% on average, driven by increases in property business and finpro lines, according to Marsh. However, overall pricing continues to fall in continental Europe, even though the rate of decline slowed again, the broker’s global insurance market index shows. The rise in global commercial insurance pricing was driven by…

GDPR fines insurable in just two European countries: Aon report

GDPR fines insurable in just two European countries: Aon report

GDPR fines insurable in just two European countries: Aon report

Fines under the EU’s General Data Protection Regulation (GDPR) will only be insurable in two European countries, according to analysis by Aon and law firm DLA Piper. In 20 of the 30 countries analysed, fines – which could be as high as €20m or 4% of a group’s global turnover – will not be insurable. Only companies in Finland and…

Whistleblowing trend drives D&O concerns

Whistleblowing trend drives D&O concerns

Whistleblowing trend drives D&O concerns

With whistleblowing set to increase throughout Europe following plans recently announced by the EC, companies are advised to keep a close eye on proceedings and growing D&O risk. Recent years have seen regulators turn to whistleblowing to unveil corporate misconduct and wrongdoing, and aid investigations and prosecutions. This has seen more and more governments introduce whistleblowing protections – including France,…

NSIT updates popular Cybersecurity Framework

NSIT updates popular Cybersecurity Framework

NSIT updates popular Cybersecurity Framework

The US Framework for Improving Critical Infrastructure Cybersecurity, which is popular with multinationals and is also used by companies in other countries, has been updated.  The new version includes updates on identity and authentication, self-assessment of cybersecurity risk and cybersecurity management within the supply chain. Version 1.1 of the framework was released last week by the US National Institute of…

European Risk Frontiers survey already throwing up surprising results

European Risk Frontiers survey already throwing up surprising results

European Risk Frontiers survey already throwing up surprising results

Our annual european risk Frontiers survey of Europe’s leading risk managers, sponsored again by HDI Global, is this year being expanded to include a wider range of risk professionals by adding snap polls at industry events and online Q&As with our readers. This approach has already produced some interesting results that we believe will pose serious questions for the insurance…

Italian risk management community seeks progress on supply chain and cyber

Italian risk management community seeks progress on supply chain and cyber

Italian risk management community seeks progress on supply chain and cyber

Italian risk management association Anra held its annual general meeting in Milan at the end of March, followed by a half-day conference focused on big data, blockchain and the rise of the digital age. Commercial Risk Europe editor Adrian Ladbury was invited to pose the main questions from this year’s European Risk Frontiers survey of Europe’s leading risk managers, which…

Demand for risk management education rising among Italian mid-market and SMEs

Demand for risk management education rising among Italian mid-market and SMEs

Demand for risk management education rising among Italian mid-market and SMEs

During Anra’s AGM, Maurizio Castelli, head of the Italian association’s education programme, told members about recent progress made, and growing interest among the wider business community, in risk management training. Adrian Ladbury caught up with him to discuss what has been achieved and what is planned going forward. Rising numbers of Italian CFOs at mid-sized companies are keen to learn…

China tops TMF Group’s latest Financial Complexity Index

China tops TMF Group’s latest Financial Complexity Index

China tops TMF Group’s latest Financial Complexity Index

The most complex nation in terms of financial compliance is China, according to the latest Financial Complexity Index 2018 from TMF Group, largely driven by the continued embedding of the Golden Tax System, which aims to introduce stricter monitoring and enhanced data sorting and transparency. The Cayman Islands was the least complex jurisdiction out of the 94 jurisdictions covered by…

Risk management message being received in Italy but more work needed: ANRA

Risk management message being received in Italy but more work needed: ANRA

Risk management message being received in Italy but more work needed: ANRA

More than half of Italian risk managers say that risk management is now viewed as a fundamental part of strategic planning within their organisations and about two thirds say insurance is viewed as an essential management tool or helpful cashflow tool when losses occur. These are clearly positive signs for the profession in Italy and across Europe. However, almost 30%…

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