Thursday, 02 October 2014


European companies to increase use of multinational programmes finds survey

A survey of 280 risk managers has found that 83% of European companies plan to increase their use of multinational programmes over the next three years because of concerns over rising exposure to emerging markets and the growing complexity of international regulations and compliance.

Swift action needed to contain Ebola and avert economic 'catastrophe' say UN and WHO

The international commitment to cope with the Ebola outbreak in west Africa has been stepped up in recent weeks as the United Nations and the President of the United States announced during a joint meeting that the virus has transformed from a medical emergency to a 'threat to global security'.

Employee error biggest cause of data breaches but hacker attacks most costly: Beazley

Analysis by insurer Beazley shows that employee error causes most data breaches but malware and spyware cases are more costly to deal with.

French market set fair for buyers in 2015 say Gras Savoye

French insurance buyers will enjoy a favourable insurance market in 2015 with only a few lines set for higher prices or tighter conditions, according to Gras Savoye.

Average 5% 2015 premium increase from P&I Clubs predicts Tysers

Lloyd's broker Tysers has estimated that P&I Clubs will raise premium by an average of 5% in 2015 on the back of a 'benign' 2013/14 year. Tysers also said that release calls from the International Group of P&I Clubs remain unjustified and warned of a deteriorating relationship and growing dissent within the group.

Business, government and insurance sector pledge commitment to manage climate change risk

Leaders from government and business across the globe have sent a clear message to the world this week that climate change is a risk that cannot be ignored and, importantly, that they are ready to work together to bring down emissions through carbon pricing, said the World Bank at the UN Secretary-General's Climate Leadership Summit on Tuesday.

Corporate round-up

AIG announces new UK Head of Sales, Allianz brings US commercial P&C business into AGCS, Willis launches overseas healthcare solution for firms with few expats, Software provider Eurobase makes new appointments, Willis Re boosts Turkish offering with Gras Savoye agreement and RFIB appoints Martin Pyrke as Deputy SEO, Middle East.

MENA rates fall as region continues to attract reinsurance capacity

Reinsurers in the Middle East and North Africa (MENA) are under increasing pressure as capacity flows into the market and insurers look to retain more risk, according to the latest MENA Reinsurance Barometer from the Qatar Financial Centre (QFC) Authority.

MENA IT security spend to hit $1bn as region wakes up to risk

Middle East and North Africa (MENA) spend on information security will reach $1bn in 2014, an increase of 8% over 2013, according to Gartner, the US-based information technology research and advisory firm.

Brokers falling short as client demands grow

Brokers need to up their game and take on a wider risk advisory role in order to meet the growing needs of clients that now expect more from their intermediary partners, according to new report by PwC based on a survey of insurance buyers at multinational organisations.

Talk of rate cuts dominate Monte Carlo but large reinsurers still positive

Rate reductions were again the talking point at this year's Monte Carlo Rendez-vous of the international reinsurance market in Monaco. Despite few signs of a long-awaited market hardening the large reinsurers are confident that they can ride-out the continuing soft market.

Reinsurers show increased appetite for casualty lines

Reinsurers that attended the Reinsurance Rendez-vous in Monte Carlo this week have indicated that they are willing to write more casualty business as traditional property catastrophe lines come under pricing pressure.

IRM revamps Diploma

The Institute of Risk Management (IRM) has revamped its International Diploma in Risk Management to ensure students are better placed to tackle the rapidly changing risk landscape and equipped with the skills needed to meet today's new challenges.

Better cooperation needed between risk managers and IT on cyber risk

Collaboration between risk managers and information security officers is vital in the fight against cyber risk that is still underestimated by many in top management, concluded a seminar on IT threats organised by a regional branch of AMRAE.

Reinsurers cautiously upbeat on cyber

Reinsurers at the Monte Carlo Rendez-vous have indicated an increased appetite for cyber risks but said they will maintain standard cyber exclusions that are widely used in property insurance policies.

New kid on the block aiming to develop risk management in Asia

The Pan-Asia Risk & Insurance Management Association (Parima) is the youngest of the major organisations around the world that aim to develop and serve the risk management profession, but has wasted no time in setting about this task with purpose and vigour in Asia.