EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

The EU has banned all Boeing 737 Max aircraft from flying in Europe over safety concerns, with more than half of the world’s 350-strong fleet now reportedly withdrawn from use. Meanwhile, Global Aerospace has confirmed it is the lead insurer for Boeing. The policy could see heavy product liability claims from the grounded aircraft, which now face serious questions. “I…

Cyber rated top risk facing multinationals in Africa

Cyber rated top risk facing multinationals in Africa

Cyber rated top risk facing multinationals in Africa

Cyber, together with political and trade credit risks, has topped a new multinational risk survey released by Chubb Insurance South Africa, in collaboration with Commercial Risk Africa. “Despite commodity market instability, Africa remains one of the fastest-growing regions in the world, with South African organisations focusing their growth strategies beyond borders. Yet these new growth strategies are creating complex new…

Obituary: Dawid Welman

Obituary: Dawid Welman

Obituary: Dawid Welman

Dawid Welman, founder of the Namibian chapter of the Institute of Risk Management South Africa (IRMSA) and head of group risk management at Ohlthaver & List Group of Companies (O&L Group), has died suddenly. An IRMSA statement said: “It is with great sadness that we advise of the recent passing on of one of IRMSA’s most esteemed members, Dawid Welman.…

Risks of ill health at work highlighted as Lesotho tops female suicide list

Risks of ill health at work highlighted as Lesotho tops female suicide list

Risks of ill health at work highlighted as Lesotho tops female suicide list

Lesotho has topped the suicide list for women globally, as the World Health Organisation (WHO) revealed someone commits suicide every 40 seconds. Companies are being urged to encourage staff to be more open about mental health issues. Anna Brattstrom, global head of statistics and analytics at Axco Insurance Information Services, said: “Last month, we celebrated the Time to Talk Day 2019 – a…

UK P&I Club issues maritime burn risk guide

UK P&I Club issues maritime burn risk guide

UK P&I Club issues maritime burn risk guide

UK P&I Club has warned of burn risks to personnel at sea and issued a prevention guide for shipowners. UK P&I Club said a “worrying number” of crew suffer pain, disfigurement, amputations and loss of life as a result of burns, with ships often far away from immediate medical treatment. Captain David Nichol, senior loss prevention executive at UK P&I…

Moroccan banks still challenged by weak asset quality and capital adequacy

Moroccan banks still challenged by weak asset quality and capital adequacy

Moroccan banks still challenged by weak asset quality and capital adequacy

Weak asset quality and capital adequacy continue to weigh heavily on Moroccan banks’ standalone viability, according to a new report by Fitch Ratings. “All Moroccan banks’ IDRs are driven by our assumption that the banks would receive support, if needed, from the Moroccan sovereign (BBB-/stable) or their institutional shareholders,” it said. Fitch warned the average impaired loans/gross loans ratio reported…

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…

Aon’s White Rock protected cell facility launches in District of Columbia

Aon’s White Rock protected cell facility launches in District of Columbia

Aon’s White Rock protected cell facility launches in District of Columbia

Aon has launched its protected cell facility in the District of Columbia in the US. The latest expansion of Aon’s White Rock Group means the facility is now established in seven domiciles around the world. According to Aon: “White Rock is a unique and leading group of insurance and reinsurance vehicles with operations in a number of key domiciles including…

Mactavish warns UK firms not grasping full Brexit risk

Mactavish warns UK firms not grasping full Brexit risk

Mactavish warns UK firms not grasping full Brexit risk

UK companies must ensure they have done everything possible to protect their business from Brexit or face lawsuits brought by disgruntled investors, governance expert Mactavish has warned, adding that it fears many firms are not taking this risk seriously enough…