Companies are ‘drastically’ cutting back on contribution rates to their Defined Benefit (DB) schemes as part of the redesign of their pension schemes, according to a new survey issued by consulting firm Mercer.
The Bermuda captive insurance market, the biggest in the world, unsurprisingly showed a fall in gross premiums written last year and a flattening in intercompany advances and investments as financial markets began to pull out of the worst of the crisis last year.
A large majority of multinational organisations fear that their corporate governance structures need to be updated to meet existing and future needs, according to a survey carried out by Mercer.
Hard evidence is mounting that now is the age of the actuary as the European insurance market steps up efforts to prepare for Solvency II, Europe’s planned new insurance capital adequacy regime.
Spanish companies are seriously ill-prepared for the expected rise in environmental liabilities following the introduction of the Environmental Liability Directive according to recent research commissioned by ACE Iberia.
U.S. and European insurance buyers will be pleased to hear that a U.S. federal appeals court has decided to restore part of a nation-wide class-action lawsuit that accused a large group of insurers and brokers of bid-rigging.
Julia Graham of the U.K. and Jorge Luzzi of Italy have been named as Vice Presidents of FERMA soon after the federation announced that Tamer Saka of Turkey and Günter Schlicht of Germany have also been named as new directors.
U.K. insurance buyers will have left the AIRMIC 2010 conference in Manchester relieved to hear that the cost of coverage is unlikely to rise in the near future. Leading insurers told ADRIAN LADBURY during the event that the market is ever closer to turning, but one leading broker thinks this is wishful thinking.
There wasn’t a cloud in the sky over Manchester during the recent AIRMIC conference, and the same could be said of the risk management world, judging by some of the talks and discussions taking place over the three days.
The soft market shows no sign of ending, according to experts on the AIRMIC Forum panel, who also questioned the added value that Solvency II will bring to buyers and its effects on captives.