VW and former CEO hit with new US dieselgate lawsuit

VW and former CEO hit with new US dieselgate lawsuit

VW and former CEO hit with new US dieselgate lawsuit

The US regulator has launched a legal suit against VW, alleging the German car manufacturer defrauded US bond investors in the diesel emission scandal. The case also cites former CEO Marin Winterkorn and two subsidiaries – Volkswagen Group of America Finance and VW Credit. The suit by the Securities and Exchange Commission (SEC) alleges that VW raised $13bn through corporate…

IRM plans to kick-start cyber risk management skills

IRM plans to kick-start cyber risk management skills

IRM plans to kick-start cyber risk management skills

The Institute of Risk Management (IRM) wants to “kick-start” risk manager skills for the digital age with a relaunched cyber group and new digital risk management certificate. The Cyber Risk Special Interest Group, which held its inaugural meeting last month, will initially focus on cyber risk in the context of enterprise risk management (ERM). The group, which meets again in…

Zurich Australia launches M&A underwriting agency

Zurich Australia launches M&A underwriting agency

Zurich Australia launches M&A underwriting agency

Zurich Australia has teamed up with Fusion Specialty Insurance to launch a mergers and acquisitions (M&A) underwriting agency partnership. Under the terms of the collaboration, Zurich will delegate its underwriting authority to Fusion M&A, which will write warranties and indemnity insurance on its behalf. The agency will focus on supporting cross-border M&A transactions across Asia-Pacific. Fusion M&A is a subsidiary…

Willis taps Marsh for key appointments

Willis taps Marsh for key appointments

Willis taps Marsh for key appointments

Willis Towers Watson has tapped Marsh for its new head of marine broking, and power and utilities CEEMA region leader. Willis Towers Watson has appointed David Ripton as head of broking, global marine in its corporate risk and broking unit. Mr Ripton joins Willis’s global marine team from Marsh, where he worked as CEO for UK marine business. In his…

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing has suspended all 371 of its worldwide 737 Max aircraft fleet, after the US became the last major country to ground the planes over safety fears. The decision follows news that Global Aerospace is the lead insurer for Boeing, with Chubb confirmed as lead underwriter of the Ethiopian Airlines plane that crashed on Sunday and Willis Towers Watson the broker…

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

The EU has banned all Boeing 737 Max aircraft from flying in Europe over safety concerns, with more than half of the world’s 350-strong fleet now reportedly withdrawn from use. Meanwhile, Global Aerospace has confirmed it is the lead insurer for Boeing. The policy could see heavy product liability claims from the grounded aircraft, which now face serious questions. “I…

AGCS launches product recall for emerging automotive risks

AGCS launches product recall for emerging automotive risks

AGCS launches product recall for emerging automotive risks

Allianz Global Corporate & Specialty (AGCS) has launched product recall cover for UK manufacturers of automotive component parts, although the company said it will expand to other markets including North America and Asia in due course. AGCS said the product would cover buyers for expenses linked to a recall – including repair, replacement and legal defence costs – as well…

ArgoGlobal appoints CUO for Europe and Asia

ArgoGlobal appoints CUO for Europe and Asia

ArgoGlobal appoints CUO for Europe and Asia

Lloyd’s insurer ArgoGlobal has appointed Alfredo Alonso chief underwriting officer for Europe, Middle East and Asia. Mr Alonso will take up the post in London this month, where he will report to Matt Harris, group head of international operations. Mr Alonso joins ArgoGlobal from RSA, where he worked in chief underwriting roles for the past seven years and most recently…

Tokio Marine names team to lead surety expansion in Nordics and Europe

Tokio Marine names team to lead surety expansion in Nordics and Europe

Tokio Marine names team to lead surety expansion in Nordics and Europe

Tokio Marine HCC has appointed Henning Skaarup as head of surety in the Nordics, as the company looks to expand its surety business in the region and into continental Europe. Mr Skaarup is currently acting general manager of a new Danish branch. In his new role, he will remain based in Copenhagen and will report to Luc Reuter, head of…

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