The Slovenian Association of Risk and Insurance Management (SI.RISK) was confirmed by the local authorities as an ‘official’ representative association on September 9, 2011 which meant that it was formally created just in time to join Ferma for its Forum in early October in Stockholm along with the Maltese.
Tony Dowding asked a group of leading captive managers and other experts what they believe will be the key considerations for captives as Solvency II nears implementation. The fog is clearing but captive owners still face a few big unanswered questions.
Captive owners have some big decisions to make as the implementation date for Solvency II draws closer. Jonathan Groves of Chartis outlined some core strategic options to delegates at the recent Risk Frontiers conference on captives and Solvency II in Frankfurt.
Clear strategy, communication and scenario planning critical for implementation of Solvency II for captives
Captive owners need to think as seriously about the softer management matters surrounding captives as the technical details, Jonathan Groves of Chartis advised Risk Frontiers delegates in Frankfurt.
Latin America is a much easier place in which to do business than in the past, but European companies are still likely to encounter challenges as they seek to transfer their risks to the local insurance market for some time yet.
Language may not be a big barrier for Spanish companies that are trying to make a splash in the fast growing Brazilian market. But the similarities between Spanish and Portuguese are of little help when it comes to compliance and the wording of insurance contracts in South America’s biggest country.
As individuals, we often talk about ourselves as being risk averse or risk takers, and the same is true of businesses and organisations. But as risk management has become more sophisticated there is now talk of risk appetite and risk tolerance. But these terms are not well understood and there has been a pressing need for guidance on the subject.
Almost nine out of ten companies, or 85%, have suffered such a supply chain interruption in the past twelve months according to a survey, conducted by the UK-based Business Continuity Institute (BCI) and sponsored by Swiss insurer, Zurich Financial Services, together with the supply chain division of German logistics company, DHL.
German risk managers may increasingly prefer the services of small and medium-sized brokers to those of the market leaders despite the increased time and workload involved with spreading the net, because they provide individual support and better service, according to two market experts interviewed by Commercial Risk Europe.
The renewable energy sector needs to improve risk management and access alternative sources of capital as operational risks rise and governments cut funding because of the uncertain economic environment.