Region
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Total Cost of Risk jumps 5% in 2012 finds survey
The average Total Cost of Risk (TCOR) climbed 5% in 2012 predominantly driven by firming rates, according to the 2013…
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Risk Doctor: A decade of progress but risk managers can do better
David Hillson, whose risk management consulting firm, The Risk Doctor, celebrated its 10th birthday this week, marked the event with…
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US loss reserves ‘adequate’ but additions increasingly likely-KBW
The US P&C industry's loss reserves for accident years 2003 to 2012 are 'adequate' as of year-end 2012, according to…
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Corporate round-up
Argo International appoints Mike Jackson as Head of Compliance, DAC Beachcroft appoints corporate insurance specialist, Beazley opens Miami office to…
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AGCS and Marsh reach agreement to speed up large claims payment
Allianz Global Corporate & Specialty (AGCS) and Marsh have launched their AGCS/Marsh Major Claim Promise that commits to provide rapid…
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S&P lowers Generali and Allianz SpA ratings on back of Italy downgrade
S&P has lowered its financial strength rating of Generali and Allianz' Italian operation primarily on the back of its decision…
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Most port accidents avoidable finds TT Club research
Research from TT Club shows that the majority of port accidents result from operational error and are therefore avoidable through…
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Ferma warns EU off mandatory cat schemes
Ferma is against compulsory European catastrophe insurance schemes and has written to the EU to discourage it from pursuing such…
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UK announces plans to boost directors’ liability
Risk managers will take note that the UK government this week proposed new measures to make directors more accountable for…
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NSA scandal set to spark developments in cyber cover says leading broker
The scandal involving the US National Security Agency (NSA) will likely spark a change in cyber policies to cover loss…
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AIG lead hull insurer on $130m policy claim reports
AIG is the lead hull insurer of the Asiana Airlines plane that crash landed at San Francisco International airport on…
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Enstar to purchase Torus as Tobin replaced as CEO
Bermudian run-off specialist Enstar Group Ltd has agreed a deal to buy global specialty insurer Torus for $692m. It was…
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Excess reinsurance capital may spark innovation in primary market
Excess capital and stiff competition from capital markets will see reinsurance rates come under pressure throughout 2013, according to reinsurance…
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Martin Sullivan named non-executive chairman of Antares
Martin Sullivan, who left Willis back in May to 'pursue other interests', has been appointed as non-executive chairman of Lloyd's…
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Big reinsurers estimate German flood losses of between €3bn and €4.5bn
Munich Re estimates insured losses from the recent flooding in Germany and neighbouring countries in the region of €3bn ($3.9bn)…
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2013’s $13bn nat cat losses below ten-year average – Munich Re
Economic and insured losses from natural catastrophes in the first half of 2013 are below the ten-year average and dominated…
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Dutch buyers need to brace for harder non-life market
There is a faint whiff of a hardening in the Dutch non-life insurance market according to research recently carried out…
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Torus and Hyperion deals suggest life in soft market yet – comment
The idea that ever-rising interest in the insurance sector from opportunity-starved investors will sustain the seemingly endless soft market for…
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Corporate round-up
Hiscox launches 'first' integrated UK bribery product, AGCS names Paul Crawford as senior cargo underwriter, Lancashire appoints new head of…
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British Safety Council welcomes fall in workplace fatalities but urges vigilance
The British Safety Council has welcomed a fall in the number of UK employees killed at work over the last…