GDPR fines up 39% in 2020

GDPR fines up 39% in 2020

GDPR fines up 39% in 2020

Regulatory fines for data breaches under the GDPR increased 39% in Europe during the past year to €158.5m, according to new research from law firm DLA Piper. The company said regulators “tested their powers” under the GDPR in 2020 after a slow start during the regulation’s first 20 months when fines totalled €114m. Total fines levied since the GDPR was…

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

The world will be more unstable, less cooperative and more prone to crises this year, with the risk of interstate conflicts higher than it has been for decades, warns Risk Advisory’s Strategic Outlook 2021. The risks consultancy’s report says that the global security and geopolitical outlook is broadly worsening this year in North America, west and central Africa, south Asia…

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

The Italian and Spanish risk and insurance sectors have joined their peers in the UK, Germany and France in calling for state support to help companies cope with future systemic risks following the catastrophic impact of Covid-19. But it seems that focus is shifting away from demand for monoline state-backed insurance pools towards broader-based incentives for greater risk management, self-insurance…

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial gets ISO cert for risk engineering and loss prevention services

Generali Global Corporate & Commercial (GC&C) has obtained ISO 9001:2015 certification for its risk engineering and loss prevention services in a number of countries around the world. The P&C unit has received the certification for its central team, as well as operations in Italy, Spain, Germany, Austria, central and eastern Europe, Russia, Asia and the UK. It was previously certified…

AGCS appoints new head of Mediterranean and Africa

AGCS appoints new head of Mediterranean and Africa

AGCS appoints new head of Mediterranean and Africa

Allianz Global Corporate & Specialty (AGCS) has appointed Patrick Thiels as regional managing director for its Mediterranean and Africa unit, to replace Corinne Cipière who will move to Allianz France. Ms Cipière has been appointed to the board of management at Allianz France as chief customer officer from 1 January 2021. Mr Thiels will oversee the recently expanded Mediterranean and…

Castelli urges Italian risk managers to keep calm and manage risk

Castelli urges Italian risk managers to keep calm and manage risk

Castelli urges Italian risk managers to keep calm and manage risk

Italian risk managers need to keep calm, not panic and act rationally as they face up to a hard market that will probably be longer than many expected before the rise of Covid-19, advised Maurizio Castelli, former Ferma president, scientific adviser and head of education at Italian risk management association Anra, and now CEO of Milan-based broker and risk advisory…

Italian companies look to captives as hardening intensifies

Italian companies look to captives as hardening intensifies

Italian companies look to captives as hardening intensifies

With the hardening commercial and corporate insurance market well underway in Italy and Europe, now is the time for risk managers to consider the use of captives. The rise of the Covid-19 crisis has only accelerated the toughening commercial insurance market, as insurers seek to bolster their balance sheets and compensate for falling premium volumes in a difficult financial and…

Better supervision required rather than more regulation, says Eiopa

Better supervision required rather than more regulation, says Eiopa

Better supervision required rather than more regulation, says Eiopa

The executive director of the European Insurance and Occupational Pensions Authority (Eiopa) has called for better supervision and ‘soft regulation’ to keep the financial system stable and protect consumers and policyholders. Speaking at the annual conference of the Associazione Europea per il diritto bancario e finanziario, Fausto Parente said that despite all the regulation that is in place, consumers continue…

Anra backs call for state-backed Italian insurance solution

Anra backs call for state-backed Italian insurance solution

Anra backs call for state-backed Italian insurance solution

Italy’s risk and insurance management association Anra is ready to work with its national insurance association Ania to call on the Italian government to create a state-backed insurance facility, to help business cope with future health crises and other risks that the commercial insurance market is struggling to cope with. Anra believes that to help ensure greater resilience within the…

Vodafone fined €12.3m by Italian regulator for GDPR telemarketing breach

Vodafone fined €12.3m by Italian regulator for GDPR telemarketing breach

Vodafone fined €12.3m by Italian regulator for GDPR telemarketing breach

Vodafone has been fined €12.3m by the Italian data protection regulator Garante, for breaching personal data rules under the General Data Protection Regulation (GDPR). The fine follows an investigation after the regulator received complaints from Italian consumers about unsolicited phonecalls from Vodafone’s sale network as part of a telemarketing campaign. The fine is the third largest fine levied by Garante…

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