O2 seeks £100m from Ericsson for business interruption: reports

O2 seeks £100m from Ericsson for business interruption: reports

O2 seeks £100m from Ericsson for business interruption: reports

UK mobile operator O2, owned by Spain’s Telefonica, is seeking up to £100m compensation from Swedish firm Ericsson for business interruption and supply chain failure caused by its software, according to media reports. O2 smartphone users were unable to use their mobile phone data last Thursday and Friday. Ericsson, which supplies software to O2 and other mobile network providers, blamed…

Beazley extends cyber risk management portal to European clients

Beazley extends cyber risk management portal to European clients

Beazley extends cyber risk management portal to European clients

Beazley is rolling out its cyber and breach-response portal, previously available for US clients, to policyholders in the UK, France, Spain and Italy. Beazley’s client portal provides policyholders with risk management information and mitigation tools – including training materials, incident response planning and risk assessment options – to help firms prepare for a cyber incident or data breach. Clients can…

The new European Regulation on drones and its implementation into the Spanish legal system

The new European Regulation on drones and its implementation into the Spanish legal system

The new European Regulation on drones and its implementation into the Spanish legal system

Unmanned aircraft systems (UAS), or drones, are a growth area within the aviation sector, poised to generate significant economic growth and social benefits. As reported in Commercial Risk Africa and Commercial Risk Asia last month, the term UAS includes a wide variety of aircraft, from very large aircraft similar in size and complexity to manned aircraft, to small consumer aircraft.…

New tax for environmental policies in Spain

New tax for environmental policies in Spain

New tax for environmental policies in Spain

Spain is introducing a new tax for environmental policies, according to insurance premium tax specialists Impendulo. The new tax, representing 8% of the premiums of the policies, is applicable from 1 November 2018. The first declaration is on 20 December 2018. According to Impendulo, this will need to be reported to the Consorcio de Compensación de Seguros with the following…

Consorcio de Compensación de Seguros tax information changes in Spain

Consorcio de Compensación de Seguros tax information changes in Spain

Consorcio de Compensación de Seguros tax information changes in Spain

Major changes in the information required to pay and declare Consorcio de Compensación de Seguros (CCS) taxes in Spain will come into force from 1 January 2019, according to insurance premium tax (IPT) specialists Impendulo. The changes will affect both extraordinary risk taxes and the Winding up of Insurance Companies Fund (formerly known as the CLEA), from 1 January 2019.…

Willis Towers Watson appoints western Europe head of FINEX

Willis Towers Watson appoints western Europe head of FINEX

Willis Towers Watson appoints western Europe head of FINEX

Willis Towers Watson has appointed Elke Vagenende as head of western Europe for FINEX, its financial, executive and professional risks unit. Ms Vagenende joins Willis after six years at AGCS, most recently as head of market management. In her new role, Ms Vagenende will be based in London, working closely with global FINEX specialists and risk advisers across western Europe.…

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…

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