Supply chains see spike in human rights risks, warns BSI

Supply chains see spike in human rights risks, warns BSI

Supply chains see spike in human rights risks, warns BSI

Supply chains have seen a spike in human rights risks during the Covid-19 pandemic, with cargo theft and smuggling also on the rise, warns the British Standards Institution (BSI) in its latest quarterly review. The BSI says the pandemic has “wreaked havoc” on supply chain continuity as governments around the world respond differently to the crisis. The BSI says migrants…

Covid-19 reshapes future risk landscape, says AGCS report

Covid-19 reshapes future risk landscape, says AGCS report

Covid-19 reshapes future risk landscape, says AGCS report

Covid-19 has radically altered long-term risk trends, with new exposures emerging from the pandemic, according to a report published by Allianz Global Corporate & Specialty (AGCS). New ways of working, changes in travel habits and altered supply chain networks have impacted established risk trends, with new exposures in some areas and lower claims trends in other lines of business, the…

Pandemics, climate and cyber top AXA risk list

Pandemics, climate and cyber top AXA risk list

Pandemics, climate and cyber top AXA risk list

Pandemics and infectious diseases have unsurprisingly jumped above climate change and cyber risk to become the number risks during the next five to ten years, in AXA’s 2020 Future Risks Report and survey. The report is based on a global poll of more than 2,600 experts from the world of risk management and insurance. In addition, just short of 19,000…

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…

Pandemic fraud on the rise

Pandemic fraud on the rise

Pandemic fraud on the rise

Risk managers must take steps to protect their businesses from a rising tide of fraud during the pandemic, according to expert speakers at Airmic Fest. The current environment is ripe for fraudsters and likely to lead to an increase in cybercrime and fraudulent personal injury claims, as well as supply chain and employee-related fraud, panellists said on a fraud session…

Marsh analysis confirms steep rise in captive usage as hardening accelerates

Marsh analysis confirms steep rise in captive usage as hardening accelerates

Marsh analysis confirms steep rise in captive usage as hardening accelerates

Broker Marsh has confirmed the fast-rising demand for captives among risk managers, as they seek to manage costs within the rapidly hardening international insurance market and find alternative options for difficult risks such as supply chain and contingent business interruption. The broker has published its 2020 Captive Landscape Report and reports that it has established a record 76 new captives…

Supply chain de-risking to boost southeast Asian economies

Supply chain de-risking to boost southeast Asian economies

Supply chain de-risking to boost southeast Asian economies

Southeast Asian economies such as Vietnam will gain from the expected de-risking of the global supply chain and creation of parallel chains as multinationals seek to reduce their dependence upon China, according to the latest Sigma report from Swiss Re. The Swiss reinsurer says the development of parallel supply chains to de-risk the global flow of intermediate goods and services is…

EC launches plan to reduce raw material supply chain risk

EC launches plan to reduce raw material supply chain risk

EC launches plan to reduce raw material supply chain risk

The European Commission has published a new plan designed to bolster supply of critical raw materials and reduce the dependence of European industry on supplies from other continents. The plan has been sparked by supply chain problems caused by Covid-19, which has shown how vulnerable European industry is to a breakdown in the global logistical system. Some risk and insurance…

UK consults on deforestation supply chain law

UK consults on deforestation supply chain law

UK consults on deforestation supply chain law

A proposed new law in the UK is set to force businesses to check that goods in their supply chain, from palm oil to rubber, do not originate from illegal deforestation. The UK government said, under the law, larger firms would have to disclose where key products were grown. They would also have to prove that commodities such as cocoa…

Average rates up between 11% and 30% in Q2 as gap between supply and demand grows: Aon

Average rates up between 11% and 30% in Q2 as gap between supply and demand grows: Aon

Average rates up between 11% and 30% in Q2 as gap between supply and demand grows: Aon

Rates continue to harden across the global insurance market with average rises between 11% and 30% in the second quarter, according to Aon, that warns the gap between supply and demand in the EMEA region is increasingly working against buyers. The broker’s Q2 2020 Global Market Insights publication reveals that average price increases in all four regions – EMEA, North America,…

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