Covid-19 laid bare lack of preparedness but presents opportunity for rethink: Graham

Covid-19 laid bare lack of preparedness but presents opportunity for rethink: Graham

Covid-19 laid bare lack of preparedness but presents opportunity for rethink: Graham

Covid-19 has “laid bare a lack of preparedness” among organisations and governments to deal with pandemics and presents an “unprecedented opportunity” for risk managers to help them “rethink and repurpose”, according to Julia Graham, deputy CEO and technical director at UK risk management association Airmic. Writing an opinion piece in a report for The Sunday Times newspaper, Ms Graham added…

Large firms could also benefit from FCA’s test case, says claimant lawyer

Large firms could also benefit from FCA’s test case, says claimant lawyer

Large firms could also benefit from FCA’s test case, says claimant lawyer

Large corporates may stand to benefit from the Financial Conduct Authority’s (FCA) business interruption (BI) test case, which finished last week in the UK High Court, one of the claimant lawyers told Commercial Risk Europe. It was revealed during the test case hearing that up to 370,000 UK businesses may be covered by potentially responsive BI insurance policies. The fast-tracked case…

British Airways thinks proposed record GDPR fine will now total just £20m

British Airways thinks proposed record GDPR fine will now total just £20m

British Airways thinks proposed record GDPR fine will now total just £20m

British Airways (BA) is confident it will get a huge reduction in the record £183.4m (€204.8m) GDPR fine it is set to receive from the UK data regulator, and has set aside just £20m (€22m) for the penalty. UK data regulator the Information Commissioner’s Office (ICO) announced last July it was set to hit BA with the record GDPR fine.…

FCA business interruption test nears conclusion but ruling not for a few weeks

FCA business interruption test nears conclusion but ruling not for a few weeks

FCA business interruption test nears conclusion but ruling not for a few weeks

A landmark court case between the Financial Conduct Authority (FCA) and eight insurers over disputed business interruption (BI) losses in the UK caused by the coronavirus pandemic is due to conclude on Thursday. The result will be binding on the eight insurers, but it will also have implications for scores of insurers and thousands of policyholders. The hearing in the…

RSA’s half-year profit down just 7%

RSA’s half-year profit down just 7%

RSA’s half-year profit down just 7%

RSA’s pre-tax profits were down 7% in the first half of 2020 to £211m after booking £54m in Covid-19 market volatility charges, £33m on its London market exit portfolios and £18m for UK cost base restructuring. The insurer’s combined ratio was 93.3%, from 95.2% in the first half of 2019. The group said Covid-19 business interruption (BI) claims totalled £47m…

New head of credit and political risk team at Canopius

New head of credit and political risk team at Canopius

New head of credit and political risk team at Canopius

Canopius has promoted Stephen Pike as head of the credit and political risk team, part of Canopius’s credit, political and crisis (CPC) division. He reports to Bernie de Haldevang, who oversees credit and political risk as the overall head of CPC at Canopius. Mr Pike will lead the credit and political risk team, further developing its proposition across Europe and…

UK government backs £500m film and TV Covid-19 insurance scheme

UK government backs £500m film and TV Covid-19 insurance scheme

UK government backs £500m film and TV Covid-19 insurance scheme

The UK government has backed a £500m insurance scheme for the country’s film and TV productions, which have found it difficult to secure cover for Covid-19 following lockdown measures that saw the industry grind to a halt. Culture secretary Oliver Dowden said the Restart Scheme will cover Covid-19-related losses for cast members and crew illness, filming delays and disruptions caused…

In the Hot Seat: Tracey Skinner, Airmic chair

In the Hot Seat: Tracey Skinner, Airmic chair

In the Hot Seat: Tracey Skinner, Airmic chair

Tracey Skinner, group insurance director at BT Group, the UK telecommunications group, has long been an active member of Airmic and has accepted the role of chair of the association in what will inevitably prove to be a busy and challenging year for members of the UK risk management community, as they help their companies emerge from lockdown. Adrian Ladbury…

Airmic accelerates digital transformation

Airmic accelerates digital transformation

Airmic accelerates digital transformation

Airmic had to react quickly to the Covid-19 pandemic, as lockdown in the UK happened while final preparations for its annual conference were taking place. Inevitably the conference was cancelled and Airmic had to fast track its digitalisation process, which was thankfully already underway. Adrian Ladbury asked Airmic CEO John Ludlow about the association’s reaction, new strategy moving forward and…

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