Ferma will formally launch its Risk Management Certification Programme at the Ferma Forum in Venice on 5 October, 2015 when the Founder Certified Risk Managers will be given their certificates on stage at the event.
A new report published by the UK government and broker Marsh and supported by Lloyd's has announced a new set of joint initiatives between government and the insurance sector to tackle cyber risks.
Good news for Europe's risk managers accompanied Lloyd's' full year 2014 results that comprised a pre-tax profit of £3.2bn–the same as in 2013–and a return on capital of 14.7% compared with 16.2% the year before.
It was not a happy day for the Talanx top management. On the morning of 23 March, when it was due to announce its 2014 results, the firm’s share price crashed by 10%. It later recovered, but was still down 6% for the day.
Directors' and officers' exposure to cyber risk is growing because they need to demonstrate that appropriate steps have been taken to mitigate the risk–steps that will go some way to reducing liability and allay the growing concerns of D&O underwriters.
Dr Jürgen Kurth will replace AXA Corporate Solutions' (ACS) Patrick de La Morinerie when the unit's deputy CEO and board member retires in May.
Shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year in shipping for 10 years, according to Allianz Global Corporate & Specialty (AGCS). But the insurer pointed to a few serious areas of concern for potential claims development such as the risks posed by so-called mega-ships and cyber attacks on ports and ships that increasingly rely on IT navigation systems.
Corporate risk managers in Europe, the US and worldwide are increasingly looking to the capital markets to help transfer their emerging risks that the standard insurance market finds difficult to cover, according to Marc Paasch, newly appointed Global Head of ART Solutions at Willis.
Insurance and reinsurance market experts welcomed the announcement by UK Chancellor George Osborne in his annual budget statement on Monday that the government would 'explore options' to attract Insurance-Linked Securities (ILS) business to London.
Despite 2014 witnessing a record 189 nat cat events, insured losses from such incidents and man-made disasters were well below average at $35bn, according to Swiss Re figures.
Leading figures in the London insurance market are stepping up efforts to rally the troops in a market-wide effort to secure its long-term position in an increasingly competitive global market.
Efforts are underway at leading insurance buying associations to support efforts to improve business interruption and supply chain insurance. They are looking to work with brokers and insurers to ensure companies can more easily provide accurate information, better calculate exposures and secure improved cover.
AMRAE has warned that a proposed French law that aims to make large corporations accountable for labour and environmental conditions across their supply chains would affect the ability of French companies to compete with foreign rivals.
As the French risk management and insurance market gathered for the annual meeting of AMRAE in France last month, talk on stage, in the exhibition halls and during interviews inevitably turned to capacity and consolidation in the French, European and international insurance markets.