A prudent time for a corporate political risk assessment

A prudent time for a corporate political risk assessment

A prudent time for a corporate political risk assessment

Increasing internal conflict within the ruling African National Congress in an important election year, as well as broader societal unease, have raised a vital debate within South Africa on how companies should identify and respond to political risk. The Institute of Risk Management South Africa (IRMSA) said that, while the issue has always been on the country’s strategic risk radar,…

Nairobi Declaration on Sustainable Insurance to be launched this week

Nairobi Declaration on Sustainable Insurance to be launched this week

Nairobi Declaration on Sustainable Insurance to be launched this week

African insurance industry leaders have been urged to support the achievement of the UN sustainable development goals (SDGs) by signing up to the Nairobi Declaration on Sustainable Insurance. The declaration will be launched by the UN Environment Programme’s Principles for Sustainable Insurance Initiative (PSI) during the fourth PSI Africa Market Event on 22 April 2021. The event, hosted by ICEA…

Aon develops supply chain protection for Covid-19 vaccine

Aon develops supply chain protection for Covid-19 vaccine

Aon develops supply chain protection for Covid-19 vaccine

Aon has issued new cargo insurance cover to protect supply chains in the global Covid-19 vaccine rollout and delivery. The cover will be available to all parties in the supply chain, from pharmaceutical firms to transport and logistics companies, pharmacy chains and inoculation centres. Aon said it will donate all 2021 revenues from the new solution to a Covid-19 charity.…

Brokerslink appoints new regional managers with Nart named Europe head

Brokerslink appoints new regional managers with Nart named Europe head

Brokerslink appoints new regional managers with Nart named Europe head

Brokerslink has appointed Denise Nart as regional manager for Europe and named other heads in Asia-Pacific and Africa. Ms Nart is head of global accounts, reinsurance and business development at NART Insurance and Reinsurance Brokerage, Brokerslink’s partner in Turkey. Au Quang-Hien, CEO of AEGIS Insurance Brokers, which is Brokerslink’s partner in Vietnam, has been named regional manager for Asia-Pacific. Benjamin…

Cricket South Africa board standoff provides lessons for risk professionals

Cricket South Africa board standoff provides lessons for risk professionals

Cricket South Africa board standoff provides lessons for risk professionals

Cricket South Africa (Cricket SA) is reported to have lurched into yet another crisis, with the Members’ Council rejecting the interim board’s proposal that the new board be composed of a majority of independent directors, potentially flying in the face of good practice. The move by the Council goes against widely accepted international best practice, including the King IV Code…

South Africa tops global list for business process services

South Africa tops global list for business process services

South Africa tops global list for business process services

In a boost to business confidence, South Africa has won an award as the top global location for business process services. It was named ‘Most Favoured Offshore CX Delivery Location’ for 2021, in the Annual Front Office BPO Omnibus Survey. The South African Department of Trade Industry and Competition (DTIC) said: “This is a welcome achievement for the South African…

Reinsurers braced for bulk of Suez Canal accident losses, reports Reuters

Reinsurers braced for bulk of Suez Canal accident losses, reports Reuters

Reinsurers braced for bulk of Suez Canal accident losses, reports Reuters

The bulk of losses caused by the Ever Given containership that blocked the Suez Canal for nearly a week is likely to fall on reinsurers, according to Reuters. It reported that the ship’s protection and indemnity (P&I) insurer UK P&I Club is braced for a claim against the shipowner’s policy from the Suez Canal Authority for any damage to the…

Three new African country heads named by WTW

Three new African country heads named by WTW

Three new African country heads named by WTW

Willis Towers Watson (WTW) has appointed three new country managers to cover Cameroon, Congo and Ghana. Carole Epée has been named country manager for Cameroon, having joined WTW in 2016. In her new role, Ms Epée will wear a ‘dual hat’ as country head of health and benefits alongside her country management responsibilities. Ms Epée is also chair of the…

Pandemic fuels heightened political risk in 2021, finds Marsh’s map

Pandemic fuels heightened political risk in 2021, finds Marsh’s map

Pandemic fuels heightened political risk in 2021, finds Marsh’s map

Pandemic-induced economic stress will continue to exacerbate political risk throughout this year, according to Marsh Specialty’s Political Risk Map 2021, which shows larger increases in in-country economic risk than ever before across all global regions. The map is based on data from Marsh Specialty’s World Risk Review platform, and rates 197 countries and territories across nine indicators relating to security,…