European heat and drought to cost agriculture sector billions, says Munich Re

European heat and drought to cost agriculture sector billions, says Munich Re

European heat and drought to cost agriculture sector billions, says Munich Re

The heatwaves, droughts and forest fires currently affecting swathes of Europe will cost the agriculture sector billions of dollars with entire harvests lost in some cases, Munich Re warns. According to the reinsurer, the grain harvest in Germany is likely to be down more than 10% on the long-term average as a result of the hot and dry weather. Total…

Mapfre restructures global risks business

Mapfre restructures global risks business

Mapfre restructures global risks business

Mapfre has reorganised its global risks business, designed to increase the capacity for large commercial risks. The insurer said Mapfre Global Risks will continue to be the business unit dedicated to global clients. “As part of this process, Mapfre Global Risks will continue to be Mapfre’s business unit specialising in providing comprehensive and innovative insurance solutions to large companies, multinational…

New director of business operations for Brokerslink

New director of business operations for Brokerslink

New director of business operations for Brokerslink

Brokerslink AG has appointed Anne Collette as director of business operations “to spearhead the continuing development of its global broking capabilities and network”. She will be based in Brokerslink’s office in Porto, Portugal. In this newly-created role, Ms Collette will be responsible for Brokerslink’s business operations globally including the management and coordination of its global network of partners and affiliates,…

Igrea signs up AGCS to claims charter but plenty more work to be done

Igrea signs up AGCS to claims charter but plenty more work to be done

Igrea signs up AGCS to claims charter but plenty more work to be done

Allianz Global Corporate & Specialty (AGCS) is the latest international insurer to sign up to Igrea’s claims charter that, among other key points, demands insurers confirm how they will deal with a claim and whether it is valid within 30 days of being served, as well as make payment within 60 days. The association of risk managers at leading Spanish…

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris most exposed European cities to risk

London, Moscow and Paris are the most exposed European cities to a set of 22 risks, with a combined $24.6bn of annual GDP – or a third of Europe’s total losses – under threat, according to new research from Lloyd’s and the University of Cambridge. The Lloyd’s City Risk Index finds that market crash, cybercrime and floods are the top…

Igrea gives insurers chance to explain their claims strategies at Madrid event

Igrea gives insurers chance to explain their claims strategies at Madrid event

Igrea gives insurers chance to explain their claims strategies at Madrid event

The Spanish large corporate risk and insurance sector meets in Madrid today at the latest Risk Frontiers conference, organised by Commercial Risk Europe in partnership with Spanish risk management association Igrea. Claims, cyber and the future evolution of the insurance sector, not least given the recent major market consolidation, will be top of the agenda. Igrea believes there is significant…

Howden Broking Group appoints new CEO

Howden Broking Group appoints new CEO

Howden Broking Group appoints new CEO

José Manuel González has been appointed as CEO of Howden Broking Group. He will take up the role on 1 October 2018. Howden, part of Hyperion Insurance Group, said that in order to facilitate the transition, Mr González will assume the role of deputy CEO with immediate effect. Mr González is a member of the Hyperion Group executive committee and…

Global rates rise for second quarter but European market remains soft

Global rates rise for second quarter but European market remains soft

Global rates rise for second quarter but European market remains soft

Global commercial insurance rates have risen for the second consecutive quarter, up 0.9% on average, driven by increases in property business and finpro lines, according to Marsh. However, overall pricing continues to fall in continental Europe, even though the rate of decline slowed again, the broker’s global insurance market index shows. The rise in global commercial insurance pricing was driven by…

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