RSA launches its first cyber policy for large corporates
RSA is launching its first standalone cyber insurance offering for large corporates…
Little or no sign of market-wide hardening in Nordics
Nordic risk and insurance managers see no sign of a general hardening in the commercial market and can get capacity for most of their risks, but there are some pockets where things are tricky for buyers. According to Tapio Huovinen, director of risk management at renewable wood biomass company UPM, there is still adequate capacity in the Nordic market. “It…
Management and leadership key friends for risk managers
It is vital for risk managers to be best friends – or have good relationships with – many individuals and departments to succeed, but the most important relationship of all is with management, said those taking part in the Nordic leg of our European Risk Frontiers survey. Other important contacts are risk owners or controllers, strategy and internal audit, the…
Risk managers must join the dots to deliver opportunity and value
Joining the dots between critical information at their disposal, breaking down internal silos, boosting compliance for competitive advantage and keeping key business functions abreast of the value insurance can bring, were given as examples by participants in our ERF survey of where risk managers have, and can, deliver value, rather than just reducing the downsides. While risk management often focuses…
Insurers advised to harness technology to streamline process and free creativity
Risk managers have urged insurers to harness the power of technology to streamline the process of placing insurance and receiving claims, while simultaneously allowing skilled staff to spend more time delivering exciting solutions for clients. Nordic participants in our European Risk Frontiers survey were asked how they would slash the operating costs of the traditional insurance market to make it…
Cyber cover moving in right direction but room for improvement remains
Cyber cover has improved, according to Nordic risk managers, and there is enough capacity for the needs of those taking part in our European Risk Frontiers survey. However, there is still room for improvement, which requires insurers to do their bit but also risk managers to better understand their risks and articulate their needs. Most Nordic risk managers we spoke…
Speed of the essence if GDPR breach hits, but no need to reinvent the wheel
Companies must act fast if a breach occurs under the General Data Protection Regulation (GDPR), but should be able to follow crisis response and business continuity plans already in place to deal with other problems, said Nordic risk managers taking part in our European Risk Frontiers survey. Despite this simple message, some stressed that businesses have struggled to fully comply…
The insurer’s perspective: HDI Denmark
Adrian Ladbury covers the questions in this year’s European Risk Frontiers survey with Michael Klitvad, managing director for HDI Denmark, the local representative of this year’s survey sponsor. Adrian Ladbury [AL]: Will the corporate insurance market harden this year in the Nordic countries? Is there adequate capacity for customer risks in this region and in which areas do you see…
Vote with your feet on claims and ditch underperforming insurers, say risk managers
Nordic risk managers seem fairly satisfied with the claims service they receive, but say much of this is because they insist on certain standards up front…
July drought in Europe to cost at least €3.5bn, Aon
Drought and wildfires across Europe last month are set to cost a minimum €3.5bn in economic losses…