Risk Management
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UK insurers’ climate change losses manageable but rates likely to rise, finds BoE
UK insurers and banks are set to lose 10%-15% of annual profit to climate change and are likely to pass…
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Commodities trader Glencore settles US bribery probe for $1bn and pleads guilty to UK charges
Anglo-Swiss commodity trading and mining firm Glencore has settled bribery and market manipulation investigations brought by authorities in the US,…
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Airline KLM facing legal action over greenwashing
Dutch airline KLM is facing legal action over alleged false advertising of its environmental credentials. The case is believed to…
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US regulators target disability bias risks in AI tools
As more employers use artificial intelligence (AI) software to screen job applicants and employees, they should heed recent guidance from…
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Swedish thinktank warns of ‘critical’ risks from confluence of climate change and war
The world is in danger of stumbling into a risk management crisis because of the worrying increase in both armed…
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Ferma raises concerns with EC over Corporate Sustainability Due Diligence Directive
The Federation of European Risk Management Associations (Ferma) is concerned about key aspects of the recently announced Corporate Sustainability Due…
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WEF launches virtual reality public-private platform to tackle global risks
The World Economic Forum’s (WEF) annual meeting has opened with the launch of a virtual reality public-private cooperation platform. The…
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Italy embroiled in cyber war with pro-Russian hackers
The Italian government is preparing itself for a cyber war with pro-Russian hacker groups that have already started an offensive…
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AMRAE welcomes new VP and board members as membership grows
French risk and insurance management association AMRAE has re-elected its president and welcomed several new board members, while also announcing…
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PwC partners with due diligence startup to manage third-party risk
PwC has formed a new partnership with due diligence startup Neotas to address clients’ third-party risk and tackle the rise…
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Risk management and captives key for construction buyers seeking SPPI cover
Risk management and captives are increasingly crucial for construction firms wanting to access the extremely tough single-project professional indemnity (SPPI)…
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Rims urges companies to bring emerging risks into core programmes
Only 27% of risk managers consider the impact of emerging risks on their business and just 24% look three to…
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Construction industry falling behind on supply chain risk management, expert warns
The construction sector is behind the curve on supply chain risk management and needs to up its game to compete…
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SCOR announces exit from new oil field underwriting but NGOs say not enough
French reinsurance group SCOR has announced that it will cease underwriting new oil field production projects from 2023. But environmental…
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Big increases in phishing attacks during Q1
Phishing attacks deployed for initial access into companies’ computer systems increased by more than 50% in Q1 compared with last…
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Google and AI firm DeepMind sued for misuse of health data
A new lawsuit filed on behalf of 1.6 million NHS patients in the UK is seeking damages for the misuse…
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Lloyd’s accused of being climate ‘villain’ as it publishes second ESG report
Campaign group Insure Our Future has accused Lloyd’s of London of being a “climate villain” and greenwashing, after being less…
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Supply chain woes altering risk profiles and adding exposures
Companies working to rectify supply chain issues that began during the Covid-19 pandemic face continuing challenges with problems amplified by…
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Conduit Re CRO given additional sustainability officer role to drive climate response
Conduit Re has given its chief risk officer (CRO) Andrew Smith the additional role of sustainability officer to lead its…
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Europe agrees to expand scope of cybersecurity rules to more critical sectors and supply chains
EU member states have agreed new rules to strengthen cybersecurity requirements and risk management for more critical large and medium-sized…