Foreign companies in China could become ‘sacrificial pawns’ under new law, warns Verisk Maplecroft

Foreign companies in China could become ‘sacrificial pawns’ under new law, warns Verisk Maplecroft

Foreign companies in China could become ‘sacrificial pawns’ under new law, warns Verisk Maplecroft

China will use new “weapons” under its recently passed Anti-Sanctions Law to target European and US businesses operating in the country and most likely Hong Kong, according to Verisk Maplecroft. It warned that foreign companies could become “sacrificial pawns” in political tensions between China and the US. China’s top legislature, the National People’s Congress (NPC), passed the Anti-Sanctions Law on…

Wegener re-elected as Ferma president

Wegener re-elected as Ferma president

Wegener re-elected as Ferma president

Dirk Wegener has been re-elected as Ferma president for a further two years at the federation’s general assembly. Laurence Eeckman, vice-president of group risk management at Electrolux and member of Swedish risk management association Swerma, was elected to the board for the first time. She replaces Maria Isabel Martínez, who had come to the end of her nine-year mandate. Mr…

Strategic Risk Solutions appoints new MD of European finance and compliance

Strategic Risk Solutions appoints new MD of European finance and compliance

Strategic Risk Solutions appoints new MD of European finance and compliance

Strategic Risk Solutions (SRS) has named Maxime Schons as managing director of European finance and compliance to continue its expansion across Europe. The captive and insurance management firm said Mr Schons will be based in Luxembourg but has a pan-European focus. “We are seeing strong growth in Europe, both in new formations and takeovers, and the continued addition of senior…

Swiss government and GRI fund new sustainability disclosure programme

Swiss government and GRI fund new sustainability disclosure programme

Swiss government and GRI fund new sustainability disclosure programme

The Global Reporting Initiative (GRI) has renewed its partnership with the Swiss government and launched a new €3.8m programme to support corporate sustainability disclosure in Africa, Hispanic America and southeast Asia. In a deal with the Swiss Confederation’s State Secretariat for Economic Affairs (SECO), the four-year Sustainability Reporting for Responsible Business programme is expected to help companies in these regions…

European data regulators call for EU ban on AI recognition in public places

European data regulators call for EU ban on AI recognition in public places

European data regulators call for EU ban on AI recognition in public places

Europe’s data protection regulators have called for an outright ban on the use of AI to detect human features in public places and recommended banning AI systems that use biometrics to group individuals based on ethnicity, gender, political or sexual orientation. In a joint statement on the EC’s proposal for new AI regulation, the European Data Protection Board (EDPB) and…

Expect ‘one, two punch’ from 2021 storm season, says FM Global as Claudette makes landfall

Expect ‘one, two punch’ from 2021 storm season, says FM Global as Claudette makes landfall

Expect ‘one, two punch’ from 2021 storm season, says FM Global as Claudette makes landfall

Atlantic hurricane seasons are expected to see less frequent but more severe storms, FM Global said as the first tropical storm of 2021 made landfall in Louisiana at the weekend. FM Global’s Dr Louis Gritzo said the changing nature of hurricanes means businesses must be prepared for a “one, two punch of wind and a lot of rain”, with hurricanes…

Airmic still planning for physical conference but final decision now due in July

Airmic still planning for physical conference but final decision now due in July

Airmic still planning for physical conference but final decision now due in July

UK risk management association Airmic is still planning to hold its annual conference in person this October, but a final decision could now be put back until the end of July. Airmic previously announced that it is “cautiously planning” to hold its annual conference physically on 5-6 October, after its 2020 event went virtual following the Covid-19 pandemic. The venue…

Mounting data breaches spreading beyond traditional target sectors

Mounting data breaches spreading beyond traditional target sectors

Mounting data breaches spreading beyond traditional target sectors

Kroll saw a 140% jump in data breach notifications last year compared to 2019, with the biggest percentage increase coming from industries previously at lower risk. The firm said this shows that data attacks became “broader and deeper” during the pandemic, with the trend continuing during the initial recovery phase. Kroll attributes the rise in data breach notification cases to…

Hotter cities by 2050 will hit productivity and supply chains, warns Verisk report

Hotter cities by 2050 will hit productivity and supply chains, warns Verisk report

Hotter cities by 2050 will hit productivity and supply chains, warns Verisk report

The number of the world’s cities at extreme risk from heat stress is forecast to rise 58% from 482 today to 762 by 2050, according to new research from Verisk Maplecroft. Hotter cities cause increased health risks, result in more transport and power disruption, and threaten productivity, Verisk says. It adds that corporate supply chains can expect high commodity prices,…

Camillo leads new insurer consortium to boost cyber risk management

Camillo leads new insurer consortium to boost cyber risk management

Camillo leads new insurer consortium to boost cyber risk management

A group of leading insurers have launched CyberAcuView under the leadership of AIG’s former head of cyber in EMEA Mark Camillo, to boost cyber risk mitigation and drive better insurance solutions. AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers are among the group of cyber insurers sponsoring and supporting CyberAcuView. Using the collective expertise of its members,…

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