Extension of state support for credit cover ‘imperative’, says GVNW

Extension of state support for credit cover ‘imperative’, says GVNW

Extension of state support for credit cover ‘imperative’, says GVNW

The German risk and insurance management association GVNW and the Federal Association of German Insurance Brokers (BDVM) have asked their government for a “rapid” extension of the state-backed credit insurance protective shield that is due to expire at the end of this year. The protective shield was introduced in April as German companies faced up to a sudden loss of…

Coronavirus hastens need for reputational risk management and insurance

Coronavirus hastens need for reputational risk management and insurance

Coronavirus hastens need for reputational risk management and insurance

Companies must focus on reputational risk management and require better insurance products to manage threats such as a pandemic and future crises, according to a panel debate at Airmic Fest. Integrating data on reputational risk into an organisation’s enterprise risk management (ERM) can result in better decision making by executives and help stimulate a wider discussion on reputational threats, according…

Airmic members and Lloyd’s working on reputational risk solutions

Airmic members and Lloyd’s working on reputational risk solutions

Airmic members and Lloyd’s working on reputational risk solutions

Airmic members are working with Lloyd’s to try and develop products and services for reputational risk, aided by recent developments in data sciences and insurance market innovation. Matthew McEwan, director of risk management at Coca Cola, told CRE that a number of UK risk managers and Airmic members, including himself, are taking part in a Lloyd’s product innovation initiative. “The…

Ludlow says buyers must ‘co-create’ with market to break harsh conditions

Ludlow says buyers must ‘co-create’ with market to break harsh conditions

Ludlow says buyers must ‘co-create’ with market to break harsh conditions

Airmic members are being urged to share data and “co-create” with brokers and insurers to break out from the hard market. The “call to action” came during a panel debate on the topic of co-creation in risk financing at Airmic Fest. Having chided the insurance market earlier this week for its conduct during the pandemic and hardening market, Airmic chief…

Van der Waart warns Narim members to ‘prepare for battle’ with insurers

Van der Waart warns Narim members to ‘prepare for battle’ with insurers

Van der Waart warns Narim members to ‘prepare for battle’ with insurers

Adri van der Waart, president of the Dutch risk and insurance management association Narim, has advised members to “prepare for battle” with the rapidly hardening insurance market. He also advised them to use this pandemic crisis to push forward and show they need to be the first point of contact, as organisations in the Netherlands and worldwide reassess their strategy…

Airmic calls for urgent work on wordings to remove ambiguity

Airmic calls for urgent work on wordings to remove ambiguity

Airmic calls for urgent work on wordings to remove ambiguity

The Airmic leadership has called for urgent work to be carried out by all parties in the commercial risk transfer chain to deliver greater certainty and consistency in policy wordings, as policyholders grapple with big questions over what is covered under key coverages such as business interruption (BI) and cyber. John Ludlow, CEO of Airmic, yesterday focused on the increasingly…

Dutch risk managers urged to rise to AI challenge

Dutch risk managers urged to rise to AI challenge

Dutch risk managers urged to rise to AI challenge

The rise of artificial intelligence (AI) is unstoppable and risk managers in the Netherlands and across Europe need to raise their game to rise to the challenge, Dutch futurologist Willem Peter de Ridder told members of Narim, the Dutch risk and insurance management association, in his keynote speech during the association’s virtual annual congress. Mr De Ridder told Narim members…

Pandemic fraud on the rise

Pandemic fraud on the rise

Pandemic fraud on the rise

Risk managers must take steps to protect their businesses from a rising tide of fraud during the pandemic, according to expert speakers at Airmic Fest. The current environment is ripe for fraudsters and likely to lead to an increase in cybercrime and fraudulent personal injury claims, as well as supply chain and employee-related fraud, panellists said on a fraud session…

Reputational risk management gaps leave corporates exposed

Reputational risk management gaps leave corporates exposed

Reputational risk management gaps leave corporates exposed

Risk professionals have identified six major challenges that are creating gaps in reputational risk management and leaving organisations exposed to unwanted headline news. A joint report by Airmic, RIMS and RepTrak Company, based on interviews with more than 40 risk professionals in Europe and the US, finds that organisations are leaving themselves exposed by failing to address and mitigate reputational…

Buyers disappointed with insurers’ ‘profit-driven’ Covid-19 response: Ludlow

Buyers disappointed with insurers’ ‘profit-driven’ Covid-19 response: Ludlow

Buyers disappointed with insurers’ ‘profit-driven’ Covid-19 response: Ludlow

Covid-19 presents an “unprecedented opportunity” for risk managers, who feel let down by the insurance industry’s “profit-driven” response to Covid-19, according to John Ludlow, chief executive of Airmic. Opening the UK risk management association’s three-day virtual annual conference, Mr Ludlow railed against the insurance industry’s response to the coronavirus outbreak, which has accelerated market hardening. However, the Airmic CEO also…

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