Corporates that ignore ‘grey swans’ at risk of shareholder action, says Aon report

Corporates that ignore ‘grey swans’ at risk of shareholder action, says Aon report

Corporates that ignore ‘grey swans’ at risk of shareholder action, says Aon report

Directors and officers are facing increased risks from ‘grey swan’ risks, with shareholders on average losing 26% of value in their holdings in the year following reputation crises caused by such events, according to a new report from Aon and Pentland Analytics. Shareholder value has fallen by half in more than 10% of 300 corporate reputation crises during the last…

Rims backs safe harbour Covid-19 legislation in US

Rims backs safe harbour Covid-19 legislation in US

Rims backs safe harbour Covid-19 legislation in US

Rims is backing safe harbour legislation to protect businesses from Covid-19 litigation in the US if companies have adhered to pandemic-related federal health guidelines. The US risk and insurance management society also said it will support legislation that addresses businesses’ negligence that results in bodily injury/property damage to third parties, on the condition it does not apply to allegations of…

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and A J Gallagher are frontrunners for the Willis Towers Watson (WTW) business in Europe that it seems Aon will have to dispose of to gain the EC’s approval for a planned $30bn acquisition of the group, a senior industry source in Germany told Commercial Risk Europe. It is also thought that McGill and Partners, the London-based broker launched…

Widespread misunderstanding of D&O cover among UK directors

Widespread misunderstanding of D&O cover among UK directors

Widespread misunderstanding of D&O cover among UK directors

A vast majority of UK directors have a fundamental misunderstanding of their D&O insurance coverage and could be left footing the bill for legal claims potentially running into millions. This was the finding of a recent survey of UK board members. It found that as many as 83% are unaware that their D&O insurance is unlikely to cover them should…

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon has offered to sell Willis Towers Watson’s (WTW) entire large multinational P&C portfolio in Germany, France, Spain and the Netherlands, as well as Willis Re and the broker’s French unit Gras Savoye to gain approval from EC competition regulators, according to Reuters sources.

AXA names new CEO of innovation unit AXA Next

AXA names new CEO of innovation unit AXA Next

AXA names new CEO of innovation unit AXA Next

AXA has appointed Jef Van In as CEO of AXA Next and group innovation officer, to replace Delphine Maisonneuve from 1 July. Mr Van In will move to the role from his current position as CEO of AXA Belgium and report to Antimo Perretta, CEO of AXA Europe. AXA Next houses eight units that have been brought together to drive…

Italian risk managers must brace for further challenges in D&O

Italian risk managers must brace for further challenges in D&O

Italian risk managers must brace for further challenges in D&O

European D&O insurance, more than other financial lines, is experiencing a complicated and challenging phase, because of rising claims during the last decade and the sometimes brutal impact of the hard market, as clearly shown by the lively discussion at last month’s Cyber and Financial Lines conference organised by German risk and insurance management association GVNW. A recent webinar on…

Generali committed to further M&A despite Covid-19: Donnet

Generali committed to further M&A despite Covid-19: Donnet

Generali committed to further M&A despite Covid-19: Donnet

Generali will continue its planned growth path under CEO Philippe Donnet’s Generali 2021 plan and has a further €2.3bn to spend on acquisitions, having already spent €1.8bn in recent times, analysts were told during the Italian insurance group’s recent annual results call. Mr Donnet’s further commitment to growth came on the back of a decent set of annual figures, to which…

Suez Canal blockage presents major lessons for Italian risk community

Suez Canal blockage presents major lessons for Italian risk community

Suez Canal blockage presents major lessons for Italian risk community

The beaching of the Ever Given, the cargo ship that ran aground in the Suez Canal, blocking the critical passageway for six days, ended once the freighter was unwedged and the flow of vessels resumed. Working off the queue of hundreds of boats that opted to wait instead of turning south towards the Cape of Good Hope and circumnavigating Africa…

Suez Canal chief says financial negotiations underway with Ever Given owner

Suez Canal chief says financial negotiations underway with Ever Given owner

Suez Canal chief says financial negotiations underway with Ever Given owner

The Suez Canal Authority is in discussions with the owner of the containership Ever Given, Japanese firm Shoei Kisen Kaisha, to settle the costs of freeing the vessel from blocking the canal for nearly a week. Speaking to The Associated Press, head of the Suez Canal Authority Osama Rabie said he hoped to reach an agreement outside of the courts.…

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