European D&O market set for further hardening as Covid-19 reinforces tough conditions

European D&O market set for further hardening as Covid-19 reinforces tough conditions

European D&O market set for further hardening as Covid-19 reinforces tough conditions

European D&O insurance buyers now face a hard market and should brace for further increases at renewals, brokers and insurers have warned. Elke Vagenende, head of western Europe for finex at Willis Towers Watson, told CRE that European risk managers are experiencing a “hard market” for D&O insurance, with double-digit rate increases now the new norm in most countries. Some…

Extension of state support for credit cover ‘imperative’, says GVNW

Extension of state support for credit cover ‘imperative’, says GVNW

Extension of state support for credit cover ‘imperative’, says GVNW

The German risk and insurance management association GVNW and the Federal Association of German Insurance Brokers (BDVM) have asked their government for a “rapid” extension of the state-backed credit insurance protective shield that is due to expire at the end of this year. The protective shield was introduced in April as German companies faced up to a sudden loss of…

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty has appointed Thomas Barenthein as managing director of its Scandinavian branch. He also joins the executive board and replaces Mats Westerborn, who will become general manager of aviation at HDI’s Scandinavian branch. Mr Barenthein joins HDI from Inter Hannover, where he was managing director for Sweden and chief branch officer. HDI’s Scandinavian branch in Stockholm is its…

Enoizi makes case for expanding Pool Re to cover pandemic risk

Enoizi makes case for expanding Pool Re to cover pandemic risk

Enoizi makes case for expanding Pool Re to cover pandemic risk

CEO Julian Enoizi believes it makes sense for Pool Re to expand its remit and be the vehicle for any state-backed pandemic or wider systemic risk financing solution in the UK, but stressed the decision is ultimately for government and the insurance industry to make. There are currently several initiatives underway in the UK to find a risk transfer solution…

Buyers must check broker compliance as Brexit looms

Buyers must check broker compliance as Brexit looms

Buyers must check broker compliance as Brexit looms

Buyers need to start a dialogue with their brokers over post-Brexit compliance, because market access will not be guaranteed when the transition period expires at the end of this year, according to speakers at Airmic Fest. The Brexit transition period – which allowed UK firms continued access to the EU single market – ends on 31 December 2020. Hopes are…

EC starts work on pan-European pandemic risk transfer solution

EC starts work on pan-European pandemic risk transfer solution

EC starts work on pan-European pandemic risk transfer solution

Commercial Risk Europe has learned that the EC is setting up a working group to deliver risk transfer solutions for pandemics and other cat risks, which will consider a pan-European private-public pool with EU funding at the very top. After much discussion, this is the first concrete sign that work is officially underway on the topic. In a letter seen…

Insurance offers solutions to pandemic’s financial fallout, says Marsh

Insurance offers solutions to pandemic’s financial fallout, says Marsh

Insurance offers solutions to pandemic’s financial fallout, says Marsh

Insurance may not have initially responded well to the pandemic, but it can help organisations deal with its financial consequences, according to a Marsh-hosted session at Airmic Fest. James Crask, resilience advisory lead at Marsh Risk Consulting, said the financial impact of the coronavirus pandemic will be the next phase of the crisis. Financial challenges will be reflected in cash…

BHSI continues European push with French FI expansion

BHSI continues European push with French FI expansion

BHSI continues European push with French FI expansion

Berkshire Hathaway Specialty Insurance (BHSI) is entering the French executive and professional lines market, appointing Olivier Hamon as head of financial institutions and management liabilities, with Alice Batchili named as professional indemnity manager to lead the push. The insurer said Mr Hamon and Ms Batchill will “spearhead” BHSI’s launch of a full range of products in France. Covers will include…

Airmic calls for urgent work on wordings to remove ambiguity

Airmic calls for urgent work on wordings to remove ambiguity

Airmic calls for urgent work on wordings to remove ambiguity

The Airmic leadership has called for urgent work to be carried out by all parties in the commercial risk transfer chain to deliver greater certainty and consistency in policy wordings, as policyholders grapple with big questions over what is covered under key coverages such as business interruption (BI) and cyber. John Ludlow, CEO of Airmic, yesterday focused on the increasingly…

London market brokers choose Belgium as top EU base for post-Brexit business

London market brokers choose Belgium as top EU base for post-Brexit business

London market brokers choose Belgium as top EU base for post-Brexit business

Almost one quarter of London market brokers have set up a base in Belgium to continue operating in Europe after the UK’s transition period expires at the end of December, according to the London & International Insurance Brokers Association (LIIBA) that is confident members will be able to continue serving clients in the EU. The survey of London market intermediaries…

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