The pharmaceutical industry is a very highly regulated industry, where quality control is extremely important and high profile. But as a recent series of recalls has shown, even in this industry, quality control can fail and after impurities are discovered, contaminated products can hit the market with expensive and damaging consequences. Last year, we at Zurich started to see massive…
Zurich Insurance Group is accelerating its policy to further reduce the use of carbon fossil fuels, which will see the insurer underwrite fewer risks that contribute to climate change. Zurich said its new commitments plan to reduce carbon emissions within its own business, at those of its clients and the companies in which it invests. The move is in line…
Globalisation has reduced the distances and barriers between countries, allowing corporations to perform business in multiple markets, which has driven the need for international insurance. Insurance companies should have capabilities around the globe to be able to offer a comprehensive insurance solution for global customers and to deal with the complexities of different regulations and market practices. Global insurers such…
Risk managers are facing many risk management challenges, not least in the international programme space where there are increasing regulatory pressures and complex networks to deal with. But ultimately, the biggest challenge is the sheer amount of information available and the complexity of the risk management requirements, from multiple jurisdictions, each with their own unique compliance and regulatory challenges, to…
Supply chains have become much more complex and this not only means greater vulnerability, but also makes it much harder to manage the risk. But with the help of new IT capabilities, together with risk engineering expertise, organisations can be better prepared for supply chain disruptions, mitigate or prevent the effects, or even gain a competitive advantage.
Cyberspace has become a dangerous source of crime and disruption. Data breaches are increasing both in terms of size and frequency, and companies need to rethink their risk strategies, especially when it comes to cybersecurity and insurance protection. Businesses can no longer simply rely on existing traditional insurance coverages such as general liability or property, and should be looking at…
Changing regulation and new approaches by regulators are a challenge for risk managers, both in terms of keeping up with the evolving regulatory environment, and the impact on the cost of risk. Zurich’s global leaders of claims for property, casualty and specialty business examine the way in which regulation is changing and how it affects companies operating globally. Change is…
Zurich Insurance Group is focusing on accident and health (A&H) business, with the appointment of a new head of A&H underwriting. Drazen Jaksic has been appointed to the role within Zurich’s commercial insurance business. He is based in London and according to Zurich, he will help drive greater consistency and growth across the globe in Zurich’s global A&H portfolio. Zurich…
Multinational companies often operate in highly volatile risk environments across the globe and one of their biggest challenges is to understand and manage the various risks they face across countries and regions. Hence, sourcing relevant and reliable data on country risks, analysing this data and then utilising it as part of corporate risk management and strategy-setting processes is of utmost…
Zurich has appointed Jason Meador as head of group captives in alternative markets for Zurich North America, effective 1 January 2019. He will be responsible for the operational management of Zurich’s group captives business, including member-owned, agency and fronted captives, and ensuring strong relationships with captive consultants and captives boards. He will continue to report directly to David Putz, head…