AXA XL makes appointments to leadership team in Europe and Asia

AXA XL makes appointments to leadership team in Europe and Asia

AXA XL makes appointments to leadership team in Europe and Asia

AXA XL has appointed Bruno Laval as chief distribution officer for Asia and Europe, and regional manager of European markets, under its new regional model. The firm has also named a new chief underwriting officer for the region and appointed heads in France, Germany, Switzerland and Asia-Pacific. Mr Laval, who was previously AXA XL Insurance’s regional manager for Europe, will…

Mapfre hit by €153m of Covid-19 claims as Global Risks unit falls to H1 €4m loss

Mapfre hit by €153m of Covid-19 claims as Global Risks unit falls to H1 €4m loss

Mapfre hit by €153m of Covid-19 claims as Global Risks unit falls to H1 €4m loss

Mapfre Group saw profit fall by 28% in the first half of this year to €271m, as Covid-19 losses of €153m and nat cats hit its bottom line. The Spanish firm said results were “strongly impacted” by Covid-19 claims against its reinsurance unit, which includes the company’s Global Risks business dedicated to the large-corporate market, of €87m. This contributed to…

Ferma and national associations back pan-European pandemic insurance plan

Ferma and national associations back pan-European pandemic insurance plan

Ferma and national associations back pan-European pandemic insurance plan

The Federation of European Risk Management Associations (Ferma) and both the German and Spanish national risk management associations have told Commercial Risk Europe they would support the pan-European pandemic insurance solution plan announced yesterday by Italian insurer Generali, which it is developing with the European Chambers of Commerce and Industry. Ferma and the national associations are keen to contribute to any…

Covid-19 heightens key risks and raises operational threat for several EU countries: Control Risks

Covid-19 heightens key risks and raises operational threat for several EU countries: Control Risks

Covid-19 heightens key risks and raises operational threat for several EU countries: Control Risks

The Covid-19 pandemic has heightened political and economic risks, with a bungled recovery and threat of economic paralysis meeting political weakness the top threats, warns Control Risks in a special edition of its Risk Map 2020. Control Risks has also raised the operational risk level for several European countries following Covid-19. This includes the UK, Spain and Germany, which all…

Fewer businesses report cyberattacks but costs soar, finds Hiscox survey

Fewer businesses report cyberattacks but costs soar, finds Hiscox survey

Fewer businesses report cyberattacks but costs soar, finds Hiscox survey

The cost of cyberattacks to businesses has spiked almost six-fold to an average $57,000 per event in the past year, according to a new global study from Hiscox. Total cyber losses reported by almost 5,600 companies polled rose to $1.8bn from $1.2bn. But the proportion of surveyed businesses targeted by cyberattacks also fell significantly from 61% to 39%. Some 51% of…

Pandemic accelerating market hardening in Europe, says Marsh

Pandemic accelerating market hardening in Europe, says Marsh

Pandemic accelerating market hardening in Europe, says Marsh

Hardening of the European insurance market is gathering pace, as the coronavirus pandemic adds to existing pressures driving price increases and capacity shortages in certain lines, according to Marsh. It added that market hardening is now touching most lines of business and geographies in Europe, and is expected to continue into 2021. “Covid-19 will in some areas exacerbate the pricing…

Beazley rolls out healthcare liability to Spain

Beazley rolls out healthcare liability to Spain

Beazley rolls out healthcare liability to Spain

Beazley has launched its healthcare liability insurance in Spain after rollouts in the US, Canada and the US. Virtual Care and its standalone medical malpractice insurance will be available to Spanish customers through brokers. Beazley said managing health issues remotely during the Covid-19 pandemic has exposed the liability risks for health professionals. At the same time, the digital health market…

Spanish court rules Covid-19 was a foreseeable event

Spanish court rules Covid-19 was a foreseeable event

Spanish court rules Covid-19 was a foreseeable event

Does Covid-19 constitute a force majeure event, a work-related accident or an occupational illness? Does the failure to supply sufficient and adequate personal protective equipment (PPE) constitute a breach of safety? A recent judgment given by the Labour Court of Teruel, Spain, on 3 June 2020, deals with these key issues. The proceedings were brought by  trade union FASAMET against…

Beazley adapts Spanish cyber and media polices

Beazley adapts Spanish cyber and media polices

Beazley adapts Spanish cyber and media polices

Beazley said it has enhanced three cyber and media and technology policies for Spanish buyers. The company said in line with its commitment to provide more straightforward, user-friendly policies, its “flagship” cyber policies Beazley Breach Response (BBR) and InfoSec, as well as MediaTech, have been “streamlined”. On BBR, first-party covers, such as cyber extortion, data recovery loss, business interruption, contingent…

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