CRE Newsletter
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DACH
October 14, 2021
BaFin driving forward reforms post-Wirecard with eye on cyber risk
German financial supervisor BaFin said it has created “powerful new units and processes” as it modernises after a difficult period,…
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Benelux
October 14, 2021
Benelux security ministers to deepen cooperation on crisis management
National security ministers from the Netherlands, Belgian and Luxembourg met this week to try and foster deeper cooperation on crisis…
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Legal & Regulation
October 13, 2021
FCA criticises London market over contract certainty, price increases and claims
The UK regulator has told Lloyd’s and London company market insurers it is concerned they aren’t delivering contract certainty or…
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Cyber & Technology
October 13, 2021
Aon forms alliance with Cybereason to boost cyber risk management
Aon has formed an alliance with Cybereason, which specialises in operation-centric attack protection, to help clients avoid and manage sophisticated…
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UK/Ireland
October 13, 2021
Howden ‘completes’ UK broking platform with Aston Lark acquisition after further European buys
Howden has continued its recent spending spree with the acquisition of UK specialist complex commercial and private client broker Aston…
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Cyber & Technology
October 13, 2021
AGCS warns 75% of firms are failing its cyber standards amid ransomware ‘pandemic’
The ransomware “pandemic” could well get worse before it gets better, fuelled by the fact that three in four companies…
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October 13, 2021
Bank of England poll ranks cyber as top risk for financial services
Cyberattack is the biggest risk facing UK financial services firms, according to the Bank of England’s (BoE) first systemic risk…
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Geopolitical
October 13, 2021
Zurich withdraws from standalone political risk market
Zurich Insurance has withdrawn from the standalone political risk market and is going to wind down its global trade credit…
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October 13, 2021
Firm US insurance market expected to last into next year
The hard commercial insurance market of the past two years may have come off its peaks in many lines, but…
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North America
October 13, 2021
A J Gallagher announces pair of US acquisitions
A J Gallagher has acquired a retail P&C agency and employee benefits consultant, as well as a retail P&C brokerage,…
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Cyber & Technology
October 12, 2021
Industrial property, energy and space insurance well positioned in hard market, says Helvetia
The current hard market and changing risk landscape are likely to be good for business for certain specialty lines, according…
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BI
October 12, 2021
EC ‘cool’ on PPPs to boost resilience but parliament could yet change agenda, says MEP
An MEP told risk managers he fears the EC remains “cool” on public-private partnerships (PPPs) to protect business and society…
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Benelux
October 12, 2021
Belgium lawmakers amend risk transfer rules for insurance intermediaries
Lawmakers in Belgium have amended legislation for client money rules for insurance intermediaries, thereby closing a gap in legislation that…
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Benelux
October 12, 2021
Luxembourg leads the way as GDPR fines skyrocket in Q3
Luxembourg has topped a list of European states issuing data protection fines, accounting for almost three quarters of all penalties…
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ESG
October 12, 2021
Insurers challenged by customers to reward sustainability efforts
Insurers were challenged by major corporate customers during this week’s Ferma Talks to follow the example of banks and reward…
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BI
October 12, 2021
Eiopa ready to back renewed call for PPPs for systemic risks
European risk managers can rely on the insurance supervisory community to continue to back the renewed campaign for public-private partnerships…
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Association News
October 12, 2021
Ferma’s top board members take up new two-year term
Ferma’s president and vice-presidents have all taken up new two-year mandates at the federation’s virtual Ferma Talks event this week.…
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Market
October 12, 2021
Risk managers in battle for capacity as hard market continues
The ongoing hard insurance market is providing an opportunity for risk managers to prove their worth as they now compete…
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BI
October 12, 2021
Australian businesses lose BI Covid-19 test case
Australian businesses have lost a test case challenging insurers that denied payments for Covid-19 losses under their business interruption (BI)…
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Cyber & Technology
October 12, 2021
Ransomware attacks ‘avoidable’, says UK cybersecurity head
Many of the recent cyberattacks that have hit the headlines were avoidable, said head of the UK’s National Cyber Security…