Liability
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European Parliament votes for ‘hard-fought compromise’ on CSDDD
MEPs have voted in favour of the Corporate Sustainability Due Diligence Directive (CSDDD), giving the final green light to rules…
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Rates fall in most regions during Q1 but rise in Europe and US: Marsh
Average commercial insurance rates fell in the UK, Asia, Canada and the Pacific during the first quarter of this year…
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Baltimore bridge ship “unseaworthy”, claims city in lawsuit against owners
The city of Baltimore has filed a lawsuit against the operators of container ship Dali, which caused the collapse of…
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Marsh tracks slowdown in global Q1 rate hikes
Marsh’s global insurance rate index increased 1% in the first quarter of this year, compared with 2% in Q4 2023,…
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Claims likely to increase as vessels remain stranded in Baltimore
The collapse of the Francis Scott Key Bridge in Baltimore in March and the ensuing build-up of vessels continues to…
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Litigation likely to flow from US ‘forever chemicals’ regulation
The US Environmental Protection Agency’s (EPA) recent establishment of safe levels of so-called forever chemicals in drinking water will likely…
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US rate increases accelerate a touch in Q1, says Ivans
US commercial insurance rate increases accelerated across most major lines of coverage during the first quarter, according to a report…
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Negative outlook for US general liability sector, says Best
Worsening social inflation, medical expenses and litigation financing, which are leading to rising claims losses and legal costs, together with…
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EU says deforestation regulation on track despite opposition
Virginijus Sinkevicius, European environment commissioner, reportedly told Reuters during a visit to a cocoa-producing cooperative in Ivory Coast on Sunday…
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French MPs approve bill to restrict use of PFAS
French MPs have approved the first reading of a bill that is designed to restrict the manufacture and sale of…
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Lancashire Insurance US focuses on E&S market
Lancashire Insurance US has opened for business, operating under a delegated underwriting arrangement with Lancashire’s UK platform. It is focused…
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US commercial insurance rate hikes slow in Q1: MarketScout
Commercial US insurance rates rose an average of 3.9% in the first quarter of 2024, compared with 5.6% in the…
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Japanese casualty reinsurance saw largest hikes at 1 April
Casualty reinsurance renewals in Japan saw the largest increases at April 1 while property markets were less challenged than in…
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Insured losses from bridge collapse could reach $4bn and harden marine market: Morningstar
Insured losses from the collapsed Francis Scott Key Bridge that was struck by a container ship and disruption to the…
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Baltimore bridge collapse losses could run into billions: Sources
The collapse of the Francis Scott Key Bridge in Baltimore after it was struck by a container ship could trigger…
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Baltimore port closure adds to global supply chain pressure
Global supply chains, already reeling from re-routing ships to avoid attack in the Red Sea, will be further challenged by…
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Softer UK PI market drives fewer law firm closures
Softer rates for professional indemnity insurance (PII) in the UK, driven by capacity from new entrants, has seen the number…
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London market seeing more benign conditions but uncertainty remains
Improved results by many insurers in the London insurance market have supported a transition towards more benign market conditions, characterised…
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Ferma remains ‘vigilant’ as CSDDD passes next hurdle
Ferma has told Commercial Risk that it is “relieved” a risk-based approach to due diligence has survived the watered-down version…
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Mining giants sued in fresh £3bn lawsuit in the Netherlands over dam collapse
Victims of the 2015 Mariana dam collapse in Brazil are suing Vale and Samarco’s Dutch subsidiary for £3bn in a…