Risk Specialty
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January 2, 2024
Strong growth expected in 2024 for Chinese insurance industry
The Chinese general insurance industry is expected to grow by 7.7% in 2023 and 6.9% in 2024, supported by an…
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January 2, 2024
Ryan Specialty to buy London-based MGU Castel from Arch
Ryan Specialty announced late last year that it has agreed to buy Castel Underwriting Agencies, a London-based managing general underwriting…
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January 1, 2024
Positive renewal pricing trends for North American contractors: WTW
There are positive trends in renewal pricing for contractors, according to the WTW North America construction broking team. However, speaking…
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January 1, 2024
International Group secures P&I rate reductions for all vessel types
The International Group (IG) of P&I Clubs, which secures liability pooling and reinsurance cover for the 12 P&I Clubs and…
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December 21, 2023
Supply chain cyber security ‘without doubt’ biggest challenge, says Marsh
Supply chain security is the biggest challenge for cyber insurance buyers, said Marsh in a recent media briefing in London,…
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December 21, 2023
Ferma sets out priorities for greater strategic risk management focus
The interconnectedness of supply chain risks and emerging threats from AI should be top priorities for Europe’s risk managers, says…
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December 21, 2023
EU fails to tackle AI risk with PLD, claims Irish NGO
Despite sharp criticism from the European business community for being too harsh and opening up the potential for potential mass…
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December 21, 2023
European Council agrees negotiating mandate on ESG ratings
The European Council has reached an agreement on its negotiating mandate for a proposed ESG rating regulation, to try to…
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December 21, 2023
EU states agree common position to strengthen cybersecurity
EU member states’ representatives (Coreper) have reached a common position on the so-called ‘cyber solidarity act’ that is designed to…
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December 21, 2023
Aircraft firms settle with Russian insurer over stranded jets
Leasing firm Dubai Aerospace Enterprise (DAE) has reached a $118m settlement with Aeroflot’s insurer over seven aircraft it had leased…
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December 20, 2023
War risk rates spiral as conflict intensifies in Red Sea
The London marine insurance market has widened the area in the Red Sea it deems as high risk after the…
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December 20, 2023
Financial firms incur more cyber breaches than other sectors
Global financial organisations experienced more cyberattacks than average across all sectors, according to cybersecurity vendor Netwrix in a survey of…
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December 20, 2023
Cyber reinsurance market expands with cat bonds issuance
The recent issuance of a cyber catastrophe bond by Axis Capital Holdings capped a year in which the insurance-linked securities…
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December 20, 2023
Europe’s insurers welcome exemption from due diligence rules
Insurance Europe, the federation that represents the European insurance sector, has welcomed news that the European Parliament and member states…
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December 20, 2023
Increased volume of EU class actions forecast for 2024
Clyde & Co is predicting that the EU directive on collective redress will see increased volumes of class actions, notably…
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December 20, 2023
Skuld posts decent nine-month result despite turbulent marine market
Norwegian marine insurer Skuld reported a profit of $69m for the first nine months of the 2023/24 financial year, an…
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December 19, 2023
HDI Global Specialty appoints head of aerospace
Carl Johan Kansmark has become the new head of aerospace at HDI Global Specialty, based at its Scandinavian branch, effective…
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December 19, 2023
Average cost of cyberattack rises 11% in 2023 to $1.7m: S-RM
The average direct cost of a cyberattack climbed 11% in 2023 to $1.7m, with the figure for global firms without…
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December 19, 2023
UK cyber honeypots attract 5.8 billion attacks in 2023, says Coalition
Three-quarters of 5.8 billion cyberattacks this year on UK honeypots – a trap or decoy to trick threat actors –…
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December 19, 2023
IT lobby group expects higher litigation and insurance costs from revised PLD
The European chapter of the US-based Computer and Communications Industry Association (CCIA) has joined the wider European business lobby as…