Grahame Chilton steps down as CEO of Gallagher’s UK business

Grahame Chilton steps down as CEO of Gallagher’s UK business

Grahame Chilton steps down as CEO of Gallagher’s UK business

Grahame Chilton is to step down from his role as CEO of Arthur J Gallagher’s UK brokerage and underwriting business. Simon Matson, head of Arthur J Gallagher’s London market and Alesco business, has been named as Mr Chilton’s successor. Mr Chilton took on the role as Gallagher’s UK CEO in February 2015 after launching Capsicum Re in December 2013 through…

UK trade credit claims hit record Q1 high on back of Carillion fallout: ABI

UK trade credit claims hit record Q1 high on back of Carillion fallout: ABI

UK trade credit claims hit record Q1 high on back of Carillion fallout: ABI

The UK has seen its highest level of trade credit insurance claims since 2009 with the £54m paid out in the first quarter of this year the largest of any quarter on record, according to the Association of British Insurers (ABI). The number of claims made by UK firms to cover non-payment of debt was up 50% on the previous…

BVI prepares legal challenge to public register of beneficial ownership imposition

BVI prepares legal challenge to public register of beneficial ownership imposition

BVI prepares legal challenge to public register of beneficial ownership imposition

The British Virgin Islands (BVI) is preparing a legal challenge to an amendment to the Sanctions and Anti-Money Laundering Bill, recently passed by the House of Commons, which will force British Overseas Territories – including the Cayman Islands, the British Virgin Islands, Gibraltar and Bermuda – to publicly reveal the owners of companies based in the territories. International law firm…

XL adds cyber cover to UK liability offering

XL adds cyber cover to UK liability offering

XL adds cyber cover to UK liability offering

XL Catlin is offering a coverage extension to its UK general liability product that provides cyber insurance for mid-sized and large companies that do not currently buy standalone cyber cover. The extension, in the form of an endorsement, covers key costs and liabilities associated with a data breach or cyberattack. Essentially, it adds first-party cyber and business interruption to UK…

Dixons Carphone breach could be first significant test of GDPR rules

Dixons Carphone breach could be first significant test of GDPR rules

Dixons Carphone breach could be first significant test of GDPR rules

UK telecommunications retailer Dixons Carphone has reported the first significant data breach since the introduction of the General Data Protection Regulation (GDPR). The case could put the UK’s new GDPR regime to the test, although the first hurdle will be to establish whether the breach will fall under the updated law or be dealt with under the old 1998 Data…

Technology should see insurers share more data, say industry leaders

Technology should see insurers share more data, say industry leaders

Technology should see insurers share more data, say industry leaders

Insurers are looking to harness disruptive technology to better share data, despite the distraction of Brexit, according to insurance leaders. The senior insurance industry executives speaking at an Airmic conference panel debate in Liverpool said technology will create opportunities to share data and work more closely in collaboration with corporate clients. Chris Johnson, head of Europe, Middle East and Africa…

Airmic says members must up game to improve their transfer options

Airmic says members must up game to improve their transfer options

Airmic says members must up game to improve their transfer options

Airmic has urged its members to up their game and better help insurers develop the solutions needed for increasing intangible assets. Speaking at the association’s annual conference this week, Airmic CEO John Ludlow urged everyone across the risk transfer chain to collaborate and finally makes some progress on new solutions to the changing risk landscape. “We’ve been talking for years…

Buyers call for evergreen as renewal burden mounts with technology set to provide answers

Buyers call for evergreen as renewal burden mounts with technology set to provide answers

Buyers call for evergreen as renewal burden mounts with technology set to provide answers

With leading risk managers calling on the insurance market to help slash the annual renewal burden, evergreen policies are once again under the spotlight and experts believe technology could at last help deliver some real progress in this area. One broker said blockchain could see evergreen polices become a reality in the next three to five years. Tracey Skinner, director…

Boards ‘sleepwalking’ towards digital risks, finds Airmic

Boards ‘sleepwalking’ towards digital risks, finds Airmic

Boards ‘sleepwalking’ towards digital risks, finds Airmic

Boards are “sleepwalking” towards risks thrown up by the fourth industrial revolution and must urgently change their approach to mitigate threats and take advantage of potential opportunities, according to Airmic. The association suggests organisations are failing to utilise chief risk officers to help cope with such change, because the role is not taking hold in UK companies. A new report…

Cyber preparedness falls short: Airmic survey

Cyber preparedness falls short: Airmic survey

Cyber preparedness falls short: Airmic survey

Cyber risk is now a top concern for Airmic members but many believe the ability of their organisations to respond is falling short. According to Airmic’s latest member survey, cyber business interruption and data breach are the second and third most concerning risks for risk managers, just behind reputation. However, risk managers expect cyber to move to the top spot…

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