Marsh has agreed a set of principles with a major carrier to help ensure that UK insurance contracts work more favourably for buyers.
Airmic has welcomed changes to terrorism reinsurer Pool Re that it believes will benefit risk managers despite the reported hike insurers will have to pay the UK government to remain as the facility's ultimate backstop.
The UK government has moved to ban the reimbursement of terrorist-related kidnap and ransom payments by insurers. The insurance industry has however downplayed the impact of the change on the kidnap and ransom insurance market.
Bowring Marsh, the dedicated specialist international placement broker for Marsh, has launched a UK terrorism insurance facility to offer insurance buyers an alternative to Pool Re. Marsh says the new facility can also complement the offering of Pool Re and be tailored to individual company needs.
A survey commissioned by the Institute and Faculty of Actuaries (IFoA) finds that companies are yet to fully get to grips with the Financial Reporting Council's (FRC) revised Corporate Governance Code and new guidance on risk management and internal control. The majority of firms believe the two documents will have little or no impact on their risk management approach.
UK risk managers can typically expect to see rate reductions of up to 10% at forthcoming renewals as insurers post healthy results and competition remains fierce, according to Tim Pritchard, Head of Corporate Placement at Marsh UK & Ireland.
The British Standards Institution (BSI) has published a new standard to help organisations build resilience.
China Re gets approval for standalone Lloyd's syndicate, New sales executive for AXA Corporate Solutions Germany, Aon appoints Lindqvist as head of power in Nordic region, Cooper Gay creates Latin America energy practice and Argo International appoints Georgia Tsiakki as head of risk management.
Members of the UK terrorism reinsurer Pool Re have today voted in favour of a new retrocession arrangement following last minute concessions by its government over potential changes to the pool’s structure.
The spotlight placed on captives under Solvency II will likely lead to the vehicles becoming more important risk management tools that garner increased attention from boards and top management on risk, according to a leading expert speaking at Commercial Risk Europe's latest Risk Frontiers seminar.
The delivery of secure and affordable power across Europe is under threat because regulatory uncertainty is reducing investment in infrastructure, according to new research by Marsh.
Experts have welcomed new guidance from the Financial Reporting Council (FRC) on risk management, internal control and related financial and business reporting that forms part of the updated UK Corporate Governance Code (the code) as a major boost for risk management.
The use of transactional risk insurance to mitigate risk in mergers and acquisitions is on the rise, according to new figures from Marsh.
The European Commission this week adopted emergency measures to help contain an outbreak of avian influenza in Holland, the UK and Germany.
Open networks in the digital age have created huge cyber vulnerabilities for the power industry, Marsh warned this week as it released a survey showing that nearly three quarters (72%) of European power industry professionals are concerned about cyber risk.
Following the publication of the Institute of Risk Management’s (IRM) Extended Enterprise: Managing Risk In Complex 21st Century Organisations report, Commercial Risk Europe spoke to Richard Anderson, the institute’s chairman and principal consultant at AndersonRisk, for his take on its key findings and recommendations.