Ferma has called on the EC’s new expert group looking into the role of artificial intelligence (AI) to consider the future insurability of commercial organisations if underwriting is left to AI technology and, more broadly, to define ethics surrounding its use in the corporate world. Late last week, the EC appointed 52 experts to its new High Level Group on…
Captive organisations are under pressure to keep up with current risks and increasing regulation, according to captive managers speaking to AM BestTV at the Bermuda Captive Conference. Attendees said that finding professionals able to work in different environments and manage the mounting layers of regulation was also a challenge. “I think there are a number of factors that combine to…
Head of car manufacturer Audi, part of the Volkswagen group, has been arrested in Germany as part of investigations into diesel emissions testing. Rupert Stadler, chief executive of Audi, is the highest-ranking VW executive to be held for questioning in Europe since it was first revealed that the car manufacturer cheated diesel emissions checks in test vehicles three years ago.…
With the threat of terrorism and hooliganism at the 2018 FIFA World Cup well mitigated by Russian authorities, organisations are advised to focus attention on more prosaic risks facing staff attending the event, such as road safety, crime, gaps in healthcare provision and visa requirements. Experts from Control Risks and International SOS told Commercial Risk Europe that organisations should know…
Medical and security specialists International SOS and Control Risks have strengthened their collaboration with the launch of two new desks in European cities Paris and Frankfurt. The new units will be serviced in local languages and add to existing security desks in Tokyo, Seoul and Beijing established in 2012. Mick Sharp, COO of travel security at International SOS and Control…
The British Virgin Islands (BVI) is preparing a legal challenge to an amendment to the Sanctions and Anti-Money Laundering Bill, recently passed by the House of Commons, which will force British Overseas Territories – including the Cayman Islands, the British Virgin Islands, Gibraltar and Bermuda – to publicly reveal the owners of companies based in the territories. International law firm…
There are tentative signs of a hardening, or at least flattening, in the huge European and global construction insurance market that generates something like €20bn a year in premiums, according to QBE’s construction portfolio manager Andy Kane. The global construction insurance and reinsurance market has been as soft as in “living memory” – at least the last 25 years –…
UK telecommunications retailer Dixons Carphone has reported the first significant data breach since the introduction of the General Data Protection Regulation (GDPR). The case could put the UK’s new GDPR regime to the test, although the first hurdle will be to establish whether the breach will fall under the updated law or be dealt with under the old 1998 Data…
Manufacturers in the auto industry need to focus on supply chain risks posed by tier-two and tier-three suppliers because, together, they pose a bigger threat than core tier-one companies, according to latest research from global broker JLT Specialty. The broker recently created its Global Automotive division, designed to help risk managers in the sector cope with the rapidly-changing risk landscape…
Disaster risk management is not keeping pace with growing exposure to natural catastrophes, according to a report from Zurich that analysed 12 global disasters and discusses how businesses can boost resilience to such events. Zurich says risk awareness and knowledge are the first steps to reduce the impact of disasters and protect businesses, people and property from the effects of…