Insured losses from winter Storm Eberhard will range between €900m and €1.5bn, with the majority coming in Germany, according to AIR Worldwide. AIR’s loss estimate includes property damage and business interruption. Eberhard first struck the UK, the Netherlands and Belgium on 9 March. It then moved onto Germany before heading further east to Austria, the Czech Republic and Poland. The…
Tokio Marine HCC has appointed Henning Skaarup as head of surety in the Nordics, as the company looks to expand its surety business in the region and into continental Europe. Mr Skaarup is currently acting general manager of a new Danish branch. In his new role, he will remain based in Copenhagen and will report to Luc Reuter, head of…
More than 59,000 personal data breaches have been reported across Europe since the introduction of the General Data Protection Regulation (GDPR), with the Netherlands, Germany and UK most affected, according to new analysis from DLA Piper. Despite this, only 91 GDPR fines have been imposed, but the law firm expects higher numbers in 2019…
Transport and logistics insurer TT Club has named Andrew Peers as senior underwriter for its UK, Benelux and Nordic team. Mr Peers joins from RSA, where he worked for 17 years and led the marine liability and marine property unit. He will report to TT Club’s EMEA regional director Mark Argentieri. In his new role, Mr Peers will head up…
Denmark has launched a new cyber strategy for the maritime industry, in response to the rising threat from cybercrime and cyber-espionage…
Swiss Re Corporate Solutions has launched parametric water-level insurance for companies at risk of business interruption following changes in river water levels…
UK mobile operator O2, owned by Spain’s Telefonica, is seeking up to £100m compensation from Swedish firm Ericsson for business interruption and supply chain failure caused by its software, according to media reports…
European businesses recorded a further increase in the number of overdue invoices in 2018 with 41.8% of payments outstanding, according to trade credit insurer Atradius. The average pushed up from 40.7% in 2017 after all of 14 European countries surveyed except Germany, Ireland and the UK recorded deterioration in B2B receivables…
Starr Insurance Companies has opened a new office in Norway, and appointed a new head of Europe. The new office is based in Oslo and opened on 1 October 2018. The insurer said the Oslo office will add to Starr’s significant presence in Europe. The office will initially focus on general aviation but Starr said it expects to expand its…
Risk and insurance managers must work harder to fully understand their supply chain exposures and cannot expect insurers to take on their risk without putting in such work first, said Nordic risk managers taking part in our European Risk Frontiers survey, who warned that obtaining such information is not easy…