Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb is the lead underwriter of the Ethiopian Airlines plane that crashed on Sunday with Willis Towers Watson the broker, a spokesperson for the intermediary has confirmed. The spokesperson was responding to Reuters following the crash of Ethiopian Airlines flight 302 shortly after take-off from Addis Ababa. All 157 passengers and crew were killed. Experts have placed the hull loss…

Risk of ratings agency downgrade for South Africa recedes

Risk of ratings agency downgrade for South Africa recedes

Risk of ratings agency downgrade for South Africa recedes

South Africa’s economy is slowly recovering, however the employment picture continues to cause concern, according to the latest economic figures. Maarten Ackerman, chief economist and advisory partner at Citadel, said: “The positive signs are likely to keep the ratings agencies at bay. However, whether you look at the 1.4% quarter-on-quarter, seasonally adjusted annualised growth for Q4 2018 or the 0.8%…

Nigerian government urged to press ahead with reforms

Nigerian government urged to press ahead with reforms

Nigerian government urged to press ahead with reforms

Following the closely contested 2019 elections and the re-emergence of Muhammadu Buhari as President of Nigeria, he is being urged to act quickly or face new economic risks. Investment house Afrinvest said: “In our view, President Buhari’s victory presents him [with] a new opportunity to choose between setting the country on the path to prosperity or sustaining poor policy choices,…

Commercial Risk Africa launches new risk management service

Commercial Risk Africa launches new risk management service

Commercial Risk Africa launches new risk management service

Commercial Risk Africa has launched Marketplace to provide risk managers with useful contacts across the continent, from insurers and insurance brokers to legal and accounting services as well as risk management consultancies. Launching with a few contacts, this new directory will build to provide risk managers with a great resource for the future. So, if you are entering a new…

RIMS report highlights need for active shooter plan

RIMS report highlights need for active shooter plan

RIMS report highlights need for active shooter plan

US risk association RIMS has produced a new report – Active Shooter Preparedness for Your Organisation – encouraging its members to customise an active shooter plan that focuses on prevention, training, feedback and post-incident protocols. In doing so their workforce will be mentally and physically prepared to react to violent threats, the report says. The need for this was recently…

Afreximbank upgrades risk management function

Afreximbank upgrades risk management function

Afreximbank upgrades risk management function

The African Export-Import Bank (Afreximbank) has upgraded its compliance function to a full department, naming long-serving banker Maureen Mba as director. Before her appointment, Ms Mba was associate director in charge of the compliance unit, as it then was, having assumed that position in 2017. Prior to that, she served as manager, compliance, from 2005. Ms Mba joined Afreximbank from…

Political risks in Africa changing erratically

Political risks in Africa changing erratically

Political risks in Africa changing erratically

The Africa region saw some of the biggest improvements in political risk in the past year – and also some of the most notable deteriorations, according to Fitch Solutions. Marsh’s Political Risk Map 2019, based on data from Fitch Solutions, highlights political risk changes from last year across the world, including Africa. It also looks ahead to ongoing risks, including…

Risk of not implementing AI higher than risk of forging ahead

Risk of not implementing AI higher than risk of forging ahead

Risk of not implementing AI higher than risk of forging ahead

Businesses cannot afford to ignore artificial intelligence (AI), as they would be running higher risks than if they forge ahead with implementation. According to a new report from RIMS – RIMS Professional Report: Making Sense of Artificial Intelligence and Its Impact on Risk Management – the risk of not adopting some form of AI can be much greater than the…

Unemployment tops risk list for South Africa

Unemployment tops risk list for South Africa

Unemployment tops risk list for South Africa

Structurally high unemployment tops the risk list, according to the Risk Report 2019 from the Institute of Risk Management South Africa (IRMSA). That is followed by growing income disparity and inequality. Good news includes unmanageable fraud and corruption dropping from second to fourth on the list. But it is no surprise that inadequate and/or sub-standard education and skills development is…