Coronavirus risks civil unrest backlash in Latin America, warns Verisk Maplecroft

Coronavirus risks civil unrest backlash in Latin America, warns Verisk Maplecroft

Coronavirus risks civil unrest backlash in Latin America, warns Verisk Maplecroft

The coronavirus pandemic is artificially containing civil unrest in Latin America, but postponed elections threaten a stronger backlash once containment measures are lifted, according to a new report from Verisk Maplecroft. Many Latin American states have enforced measures to contain the spread of Covid-19, including limiting civil liberties and potential delays, or postponements, to elections. Verisk Maplecroft expects the pandemic…

FFA to propose state-backed pandemic scheme but warns ‘miracle’ funds not available

FFA to propose state-backed pandemic scheme but warns ‘miracle’ funds not available

FFA to propose state-backed pandemic scheme but warns ‘miracle’ funds not available

The French Insurance Association (FFA) has launched a consultation process to prepare a proposal to the government about the formation of a public-private partnership to create an insurance-type regime to cover large-scale health disasters such as the current pandemic. FFA president Florence Lustman has issued a statement in which she said calls in the US and parts of Europe to…

Risk managers advised on dangers of mothballed facilities

Risk managers advised on dangers of mothballed facilities

Risk managers advised on dangers of mothballed facilities

Most corporate insurance managers will be focusing on how, if possible, to call on their liability coverage to help their company through the current pandemic, but they also need to act on the property risks posed to their mothballed production facilities and industrial plants or face some potentially nasty surprises, warns Allianz Global Corporate & Specialty (AGCS). “Many companies are…

Pool Re is proven model but not only option for pandemic insurance solution: Enoizi

Pool Re is proven model but not only option for pandemic insurance solution: Enoizi

Pool Re is proven model but not only option for pandemic insurance solution: Enoizi

Pool Re chief executive Julian Enoizi welcomed the recent debate on future pandemic risk financing in partnership between government, the insurance sector and business, telling Commercial Risk Europe in an exclusive interview this week that risk managers definitely need to be involved in the discussion from the outset. He pointed out that Pool Re was created in only three months during…

Covid-19 unlikely to change course of aviation rates, says Gallagher

Covid-19 unlikely to change course of aviation rates, says Gallagher

Covid-19 unlikely to change course of aviation rates, says Gallagher

Broker Gallagher has said Covid-19 is unlikely to change the course of the aviation insurance market, with hardening conditions set to continue throughout 2020 driven by the frequency and severity of recent claims. The next round of renewals are expected to continue on higher rates. But Gallagher said the recent ratings trend will be “somewhat clouded by the huge reduction…

BMS signs agreement with Tagus to boost specialty options in Portugal

BMS signs agreement with Tagus to boost specialty options in Portugal

BMS signs agreement with Tagus to boost specialty options in Portugal

BMS Group has concluded a preferred partner agreement with new specialty and wholesale broker Tagus to deliver more products to insurance buyers in Portugal. The deal will see BMS teams in London and Madrid work closely with the Portuguese firm to distribute specialty insurance and reinsurance solutions for risks such as cyber that are yet to be widely transferred in…

Insurers clarifying pandemic coverage at renewals

Insurers clarifying pandemic coverage at renewals

Insurers clarifying pandemic coverage at renewals

Moves by insurers to ensure they are not exposed to Covid-19 on future policies are mostly to clarify cover rather than rewrite coverage, said Aon’s global chief broking officer, Hugo Wegbrans. He also told CRE that the insurance market coped well during 1 April renewals, with things relatively smooth for buyers despite turmoil thrown up by the pandemic. “In general,…

Miller sees surge in demand for epidemic insurance as property market restricts cover further

Miller sees surge in demand for epidemic insurance as property market restricts cover further

Miller sees surge in demand for epidemic insurance as property market restricts cover further

Demand for specialist epidemic insurance has surged as the Covid-19 pandemic continues to escalate and insurers further restrict cover in property policies, according to London market insurance broker Miller. Although it is no longer possible to buy cover for the current coronavirus outbreak, a growing number of companies are thinking about how to protect against the next infectious outbreak, explained…

Marsh tells US Congress it can help create TRIA-style pandemic pool

Marsh tells US Congress it can help create TRIA-style pandemic pool

Marsh tells US Congress it can help create TRIA-style pandemic pool

John Doyle, president and CEO of Marsh and vice-chair of Marsh & McLennan Companies (MMC), has written to Congress leaders and the US administration, offering to help create a pandemic risk insurance programme that would help the US economy recover from Covid-19 and be far better prepared for any future outbreak. Marsh’s bid to create a government-backed scheme to cover…

Germany to back trade credit insurers during Covid-19 crisis: Reuters

Germany to back trade credit insurers during Covid-19 crisis: Reuters

Germany to back trade credit insurers during Covid-19 crisis: Reuters

The German government has struck a deal with the country’s trade credit insurers to ensure trade is covered through the current Covid-19 pandemic, according to Reuters. The details have yet to be confirmed by the government or any of the insurers involved. Reuters said it has learnt the government will guarantee €30bn for the commercial trade credit insurance sector so…