Saturday, 02 July 2016

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UK and European business left in the lurch by Brexit as uncertainty mounts

The UK's decision to leave the EU is a seismic political event that will have far reaching consequences for businesses across Europe and lead to an indefinite period of uncertainty with increased risks, experts warn.

Rating agents warn of Brexit risks to UK and Europe

Two of the main credit ratings agencies have downgraded the UK's sovereign debt rating, warning that Brexit has significant economic and political implications for both the UK and Europe.

UK risk and insurance managers have battle ahead following Brexit

UK-based risk and insurance managers will need to deal with material changes to their companies' risk profiles and strategy, market volatility, regulatory and legal challenges, plus potential upheaval in the insurance market following Brexit, according to Marsh.

London and European insurance market calls for decisive action from government over Brexit

The London and European insurance market has urged the UK government to act with speed and decision in its negotiations with the European Union over Brexit to restrict uncertainty.

No need for London and UK insurers to panic over Brexit

The UK insurance sector and many international firms that use London as their European base will likely be less affected by the historic Brexit vote than other financial sectors. A mass exodus of firms and premiums from London to continental Europe is not expected overnight.

Risk managers urged to plug Brexit mitigation gap

Airmic is concerned that many UK companies have not made contingency plans for Brexit and said the issue must now become a priority. It has laid out key steps to help risk managers and their firms tackle the UK's withdrawal from the European Union (EU). 

Analysts warn of political risk contagion across Europe from UK vote

Political risk experts warn that Brexit raises the potential for further political upheaval in Europe as discontent spreads.

Insolvencies to rise in several European countries following UK referendum result: Atradius

Fallout from Brexit is likely to cause an uptick in insolvencies over the short term in the UK and across several European countries with close trade and investment ties to the country, according to trade credit insurer Atradius. Outside the UK, firms from Ireland, Belgium and the Netherlands are most at risk, it said.

Ferma names first accredited education providers for certification scheme

Ferma has named the first six education bodies to receive accreditation for its professional risk manager certification rimap as the federation moves a step closer to delivering the scheme.

Risk managers and auditors key to meeting proposed EC financial reporting rules

Risk managers and internal auditors will need to forge strong partnerships to ensure their companies are able to deliver on proposed EC country-by-country financial requirements, according to Ferma.

Ferma names new board

Ferma has elected three new board members from Denmark, the Netherlands and the UK, while re-electing its Swedish member.

RIMS announces first 90 holders of its certification

The first risk managers have been awarded the RIMS-Certified Risk Management Professional (RIMS-CRMP) certification.

Zurich to roll out globally aligned wording during 2016

Zurich Global Corporate is looking to roll out its globally aligned multinational insurance wording for property damage and business interruption to 60 countries by the year-end.

Corporate round-up

Paul O'Neil set for chief underwriting officer role for specialty at AGCS, XL Catlin to launch global M&A business, CICA president to step down next year, Chubb enhances casualty wording for UK and Irish firms and AIG Europe teams with Ascot to deliver high net worth insurance solutions.

European insurance industry warns against Brexit

The European and UK insurance industry is urging voters to keep the UK in the European Union (EU) when they go to the polls today.

Ferma unveils new strategic vision and mission statement

Ferma has unveiled a new strategic vision and mission statement to help deliver what members want and need over the coming years.


European Risk Management Awards 2016