North P&I Club adds route risk tool

North P&I Club adds route risk tool

North P&I Club adds route risk tool

Shipping insurer North P&I Club has launched a route risk management tool for members to help them identify hazards in voyages from port to destination. Route Risk Advice is an addition to the club’s MyGlobeView digital platform. MyGlobeView, which also features a Covid-19 tracking tool, gives club members access to more than 40 alert and reporting features including news, port…

South Africa ranks among worst for cargo crime

South Africa ranks among worst for cargo crime

South Africa ranks among worst for cargo crime

South Africa ranks among the worst countries in the world, and bottom of the pile on the African continent, for forecasted losses due to cargo theft, underscoring the significant economic impact of the issue. Freight transport insurer TT Club and business improvement company BSI highlight the growing risk in a new report – Freight Crime in South African Supply Chains.…

AXA XL makes appointments to new regional units

AXA XL makes appointments to new regional units

AXA XL makes appointments to new regional units

AXA XL Insurance has announced new appointments for its business divisions following the recent launch of its regional operating model, which came into effect on 1 October. New appointees to AXA XL’s Asia and Europe business unit division are: –Marine Charbonnier, global programmes and captives director –Mathieu Daubin, chief underwriting officer, marine –Yannick Daucourt, chief underwriting officer, specialty –Simona Fumagalli,…

Covid-19 reshapes future risk landscape, says AGCS report

Covid-19 reshapes future risk landscape, says AGCS report

Covid-19 reshapes future risk landscape, says AGCS report

Covid-19 has radically altered long-term risk trends, with new exposures emerging from the pandemic, according to a report published by Allianz Global Corporate & Specialty (AGCS). New ways of working, changes in travel habits and altered supply chain networks have impacted established risk trends, with new exposures in some areas and lower claims trends in other lines of business, the…

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty has appointed Thomas Barenthein as managing director of its Scandinavian branch. He also joins the executive board and replaces Mats Westerborn, who will become general manager of aviation at HDI’s Scandinavian branch. Mr Barenthein joins HDI from Inter Hannover, where he was managing director for Sweden and chief branch officer. HDI’s Scandinavian branch in Stockholm is its…

Prepare early for tough renewals, Narim members told

Prepare early for tough renewals, Narim members told

Prepare early for tough renewals, Narim members told

Herman Kerremans, CEO at Howden Belgium, has advised Dutch risk managers to focus on supplying the best and most transparent risk information possible, while preparing fellow management for cost increases as tough renewals loom. Commercial Risk Europe interviewed Mr Kerremans about what risk managers in the Netherlands and wider Benelux region can expect during coming renewals, as members of the Dutch risk management…

Covid-19 has pushed insurers forward ‘by a generation’, says IUMI

Covid-19 has pushed insurers forward ‘by a generation’, says IUMI

Covid-19 has pushed insurers forward ‘by a generation’, says IUMI

The Covid-19 pandemic has forced the insurance industry to digitalise “in a few short months” and moved the sector forward “by at least a generation”, said the International Union of Marine Insurance’s (IUMI) Philip Graham, speaking as the body published annual figures for the marine industry. He said the “extremely positive” moves towards digitalisation gained momentum when the pandemic forced…

Covid-19 adds pressure to firming marine insurance market

Covid-19 adds pressure to firming marine insurance market

Covid-19 adds pressure to firming marine insurance market

Covid-19 is adding further pressure to the marine insurance market that had already seen price increases amid a worrying trend of large losses, according to Richard Turner, president of the International Union of Marine Insurance (IUMI). The marine insurance market has yet to see significant claims as a direct consequence of Covid-19, but there will likely be an impact on…

Demand for premium financing grows among larger firms in hard market

Demand for premium financing grows among larger firms in hard market

Demand for premium financing grows among larger firms in hard market

Commercial insurance buyers are increasingly turning to premium financing as they look to maintain insurance cover in a hardening market and cope with big cuts to insurance budgets, according to Premium Credit, a UK-based provider of premium finance. The trend includes risk-managed companies. Insurance premium finance (IPF) is seeing significant, increased uptake, according to Owen Thomas, chief sales officer at…

Beirut port insurance claims already at $425m

Beirut port insurance claims already at $425m

Beirut port insurance claims already at $425m

Insurance claims following the port explosion in Beirut earlier this month have reached $425m across 2,500 claims, according to information published on the Lebanese President’s Twitter account. Following a meeting with local insurers, Lebanon’s economy minister Raoul Nehme said the blast is expected to result in a total of 10,000 insurance claims. Mr Nehme said insurers have given assurance “that…