Norway’s Wallenius Wilhelmsen Ocean is the latest international shipping firm to be charged with being involved in a cartel operation that fixed prices on the transportation of cars, trucks and buses to Australia between 2009 and 2012. In July 2015, the Australian Competition and Consumer Commission (ACCC), started an investigation into alleged anti-competitive practices in the car-carrying industry during 2009-2012.…
Marsh reports that warranty and indemnity (W&I) claim notifications are up 293% across Europe, the Middle East and Africa (EMEA) between 2016 and 2018, with the cover gaining in popularity and notifications as a proportion of policies placed rises. In its Transactional Risk Insurance Claims Study, Marsh also finds a reduction in the time taken to settle W&I claims. In…
The cyberattack that halted production at aluminium producer Norsk Hydro in March is estimated to have cost the firm a further NOK250m-NOK300m (€26m-€31m) in Q2, adding to the NOK400m-NOK450m (€41m-€47m) already booked in the first quarter. Norsk Hydro’s combined losses from the cyberattack for Q1 and Q2 total up to €78m. Disclosed as part of its second-quarter results, Hydro said…
European countries dominate FM Global’s 2019 Resilience Index, taking nine of the top ten positions, led by Norway as the most resilient business environment. FM Global said the top ten was “reshuffled” for 2019, with Norway up from fourth place in 2018. Demark came second, with Switzerland – last year’s most risk-resilient country – in third. The UK was a…
HDI Global Specialty SE launched in January with an expected gross annual premium level of €1.2bn at year-end 2019, after merging the specialty lines activities of Talanx-owned HDI Global and Hannover Re. We spoke to Richard Taylor – the company’s chief marketing officer, chief underwriting officer of short-tail classes and former UK managing director at HDI Global – about the…
There has been an update to the Danish terrorism insurance pool for non-life insurance, according to insurance premium tax specialists Impendulo. The ‘Act on a terror insurance scheme in the non-life insurance area’ will come into force on 1 July 2019. The reinsurance pool now has a total limit of DKK13.4bn. Impendulo said the scheme provides insurance coverage for property…
Chubb has appointed Karine Paul and Brigitte Vorrath as global client executives within its major accounts team for continental Europe. In the newly created roles, Ms Paul will manage France and the Nordic region, in addition to international accounts in the UAE and India. Ms Vorrath will manage accounts in Germany, Austria, Poland, Czech Republic, Hungary and Russia. Switzerland will…
Howden Forsikringsmegling (Howden Norway), part of Howden Broking Group, has acquired a majority share ownership in Norwegian Insurance Partner AS, an employee benefits broker, located in Bergen, Norway. According to Howden, the combined company will become a top-five broker in the country and the market leader in employee benefits. Geir Nygaard, founder and CEO, Norwegian Insurance Partner, will continue to…
New research from Aon finds that 16% of terrorist attacks last year targeted or directly impacted business, with far-right extremism on the rise. Resurgent authoritarianism and nationalism have “widened fault lines between allies, and fuelled geopoliticalcompetition”, the broker adds…
