Foreign firms face increased US class action exposure and scrutiny from D&O insurers

Foreign firms face increased US class action exposure and scrutiny from D&O insurers

Foreign firms face increased US class action exposure and scrutiny from D&O insurers

D&O underwriters are increasing their scrutiny of US American Depository Receipts (ADRs), following recent cases that point to likely increased class action exposure for foreign companies. Recent legal cases in the US have shown foreign companies with ADRs – derivative securities issued by a depositary bank – may be more exposed to securities class action litigation than previously thought. In…

Climate change policies to wipe trillions from company values

Climate change policies to wipe trillions from company values

Climate change policies to wipe trillions from company values

Climate change policies could wipe 33% off the share value of energy firms, with other sectors also set to be hit, according to a new study by Vivid Economics and Energy Transition Advisors commissioned by the UN’s Principles for Responsible Investment (PRI). But it adds that there will also be winners from the transition. The study found huge swings between…

Political risk damages confidence of UK financial services firms, finds CNA Hardy survey

Political risk damages confidence of UK financial services firms, finds CNA Hardy survey

Political risk damages confidence of UK financial services firms, finds CNA Hardy survey

Political risk is weighing on business confidence in the UK financial services sector, according to a survey by CNA Hardy that found 25% of respondents ranked it the number one threat in 2020 – almost double the figure in the same poll a year ago. Meanwhile, confidence levels among European financial services firms have risen this year and pulled away…

GDPR now ‘business as normal’ for risk managers

GDPR now ‘business as normal’ for risk managers

GDPR now ‘business as normal’ for risk managers

Almost 18 months after implementation, the EU’s new data protection rules are being viewed as a risk just like any other, according to a report and webinar from Ferma. The implementation of the General Data Protection Regulation (GDPR) in May 2018 caused much concern and uncertainty for companies processing personal data of EU citizens. The rules, which introduced tough data…

Five megatrends mean company directors face heightened D&O risk according to Allianz

Five megatrends mean company directors face heightened D&O risk according to Allianz

Five megatrends mean company directors face heightened D&O risk according to Allianz

Company executives are facing five “megatrends” that are set to create a heightened risk environment for D&O liability in 2020 and further challenge the profit margins of D&O insurers, according to Allianz Global Corporate & Specialty (AGCS), which said it has seen double-digit growth in D&O claims in the past five years. ‘Bad news’ or event-based claims have driven a…

EC proposes new collective redress directive as VW faces up to latest action in UK and Germany

EC proposes new collective redress directive as VW faces up to latest action in UK and Germany

EC proposes new collective redress directive as VW faces up to latest action in UK and Germany

The European Council has taken a big step forward in the protection of consumer interests in Europe, by adopting a general approach on the European Commission’s (EC) proposal for a directive on representative actions for the protection of consumers’ collective interest. The EC explained that the new rules will enable consumers to claim their rights not only individually but also…

Autonomous ships to take decades says Kennedys, amid low levels of public support

Autonomous ships to take decades says Kennedys, amid low levels of public support

Autonomous ships to take decades says Kennedys, amid low levels of public support

The buzz around autonomous shipping could be premature, with the adoption of fully automated ships likely to take decades rather than years, according to law firm Kennedys. The legal and regulatory obstacles are too substantial for autonomy to reach its full potential any time soon, the law firm said. Regulatory standards led by the International Maritime Organisation (IMO) and the…

Kenya launches new data protection rules

Kenya launches new data protection rules

Kenya launches new data protection rules

Kenya has introduced a new data protection law, which should safeguard against the commercialisation and misuse of data. The law, which brings Kenya into line with similar rules in South Africa, has been backed by the local information and communications technology (ICT) fraternity, which has described it as a good regulation policy framework for the industry. Robert Nyamu, partner and…

Wegener prioritises EU lobbying as new Ferma president

Wegener prioritises EU lobbying as new Ferma president

Wegener prioritises EU lobbying as new Ferma president

New Ferma president Dirk Wegener said lobbying European institutions will be his number one priority as he took over from Jo Willaert at the federation’s forum in Berlin. Mr Wegener said it is a key time to lobby for European risk management associations as the European institutions set their objectives for the next five years. Mr Wegener is global head…

Risk managers must take lead role on climate risk

Risk managers must take lead role on climate risk

Risk managers must take lead role on climate risk

Risk management will play an increasingly important role in helping companies and society tackle client change, according to speakers at the Ferma Forum. As Europe moves to reduce emissions of harmful climate change gases, businesses will increasingly face regulatory and policy changes, as well as pressure from investors and consumers to increase climate-related reporting and alter their behaviour, according to…

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