Airmic welcomes ‘landmark’ BI ruling

Airmic welcomes ‘landmark’ BI ruling

Airmic welcomes ‘landmark’ BI ruling

Airmic has welcomed the “landmark” UK Supreme Court business interruption (BI) ruling as “positive news” for insurance buyers struggling with the hard market and Covid-19. The Supreme Court has rejected appeals from six insurers and substantially upheld the Financial Conduct Authority (FCA) appeals in a test case intended to clarify BI cover for Covid-19-related losses in the UK. The judgment…

Global body confirms three new sustainability standards for 2021 reports

Global body confirms three new sustainability standards for 2021 reports

Global body confirms three new sustainability standards for 2021 reports

Companies that disclose sustainability reports using Global Reporting Initiative (GRI) standards will need to apply three new and updated standards from this year. GRI said that, effective 1 January 2021, reporting companies must apply the global standard for tax transparency plus those that cover employee wellbeing and water/effluent responsibilities. The independent body said its all of its standards aim to…

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

The world will be more unstable, less cooperative and more prone to crises this year, with the risk of interstate conflicts higher than it has been for decades, warns Risk Advisory’s Strategic Outlook 2021. The risks consultancy’s report says that the global security and geopolitical outlook is broadly worsening this year in North America, west and central Africa, south Asia…

Insurance rates increase for Red Sea vessels: Reuters

Insurance rates increase for Red Sea vessels: Reuters

Insurance rates increase for Red Sea vessels: Reuters

Attacks against commercial ships in the Red Sea are driving drive higher prices for insurance cover, according to a Reuters report. In particular, breach rates have increased to cover the risk of vessels entering the Red Sea, which is considered a high-risk area. Speaking to Reuters, Gallagher’s Mike Ingham said the broker’s clients are seeing higher rates for commercial vessels…

Parametric solutions will be ‘next cool thing’, says Mars risk manager

Parametric solutions will be ‘next cool thing’, says Mars risk manager

Parametric solutions will be ‘next cool thing’, says Mars risk manager

Parametric solutions will be “the next cool thing” for the risk management and insurance industry, according to Christopher de Wolfe, global director of risk management at multinational manufacturer Mars Incorporated. In an interview with Aon, Mr De Wolfe said: “I’m totally into the concept of parametric programmes; I think they’re fantastic – I think it’s the next cool thing to…

WTW launches new cyber risk assessment services

WTW launches new cyber risk assessment services

WTW launches new cyber risk assessment services

Willis Towers Watson (WTW) has launched two cyber risk assessment services to help clients deal with people risk and ransomware, which were flagged as two big areas of concern in a recent report by the broker. WTW’s said its new Workforce Cyber Culture Assessment (WCCA) service provides an “innovative” cyber risk methodology specifically designed to assess people risk and the…

Rims names Soraya Wright as vice-president of strategic initiatives

Rims names Soraya Wright as vice-president of strategic initiatives

Rims names Soraya Wright as vice-president of strategic initiatives

Rims has appointed Soraya Wright as vice-president of strategic initiatives to replace Carol Fox, who is retiring. Ms Wright was previously the founder and chief risk officer of SMW Risk Management Consulting, and prior to that was vice-president of enterprise risk management at Target. She has been an active member of Rims for 30 years. Ms Wright will based in…

Global M&A surge in Q4 set to continue in 2021: WTW

Global M&A surge in Q4 set to continue in 2021: WTW

Global M&A surge in Q4 set to continue in 2021: WTW

Global merger and acquisition (M&A) activity fell to its lowest level last year since the financial crisis, but a surge in the final quarter is expected to continue in 2021, according to new data from Willis Towers Watson (WTW). The research in partnership with the M&A Research Centre at The Business School, formerly Cass, reveals that Covid-19 dragged M&A activity…

Thousands of UK financial services firms at heightened risk of failure from Covid-19, finds FCA

Thousands of UK financial services firms at heightened risk of failure from Covid-19, finds FCA

Thousands of UK financial services firms at heightened risk of failure from Covid-19, finds FCA

The UK’s Financial Conduct Authority (FCA) regulator has found that 4,000 smaller financial services firms in the country are at heightened risk of failure because of Covid-19. The 1,500 largest financial firms in the UK are regulated by the Prudential Regulation Authority. But the survey of smaller, solo-regulated firms under the FCA’s watch revealed that 17% were operating with “low…

Deep-fake videos set to become major cyber risk for business, warns CyberCube

Deep-fake videos set to become major cyber risk for business, warns CyberCube

Deep-fake videos set to become major cyber risk for business, warns CyberCube

Deep-fake videos will pose a major cyber risk to businesses within two years, according to CyberCube. In a new report, the cyber analytics specialist says the use of AI and machine learning to create fake audio and video will impact businesses and individuals with an online presence. This risk has increased during the Covid-19 pandemic, which has seen an increase…

1 2 3 459