German insurers demand more information to achieve innovation
The German insurance industry has strengthened its call for more information about risks from corporate clients to help deliver more innovative solutions following last week’s demand for a more imaginative approach from leading German risk manager Jurand Honisch of Bertelsmann.
Lawyers prepare for battle over Concordia victims as toll mounts
Salvagers began to pump fuel from the stricken Costa Concordia that ran aground on January 13 off the coast of Giglio, an Italian island, on Tuesday as it was felt the vessel is now stable enough.
EC steps up pressure on maritime safety following Concordia disaster
Siim Kallas, European Commissioner for Transport, has asked that the ongoing review of EU passenger ship safety legislation take ‘fully’ into account any lessons from the recent Costa Concordia tragedy.
Marsh forecasts rising rates for loss hit EMEA risks
Insurance rates for businesses with exposure to natural catastrophe risk and supply chain perils are expected to continue to rise in 2012 across Europe, the Middle East and Africa (EMEA), according to a report published yesterday by broker Marsh.
Gras Savoye's new organisation strengthens Willis ties
French broker Gras Savoye has announced a structural organisation that aims, among other goals, to further develop its partnership with the global network of Willis.
HDI continues expansion as parent swoops on Poland’s Warta
Talanx, the parent of the HDI industrial insurance group, has announced further expansion in Europe with the intention to acquire 100% of the shares in TUiR WARTA (Towarzystwo Ubezpieczen i Reasekuracji Warta) for €770m from the Belgian KBC group.
Further sharp increase in UK product recalls in 2011
UK product recalls have increased by 27% in 2011 to a record 291, compared with 229 in 2010, according to law firm Reynolds Porter Chamberlain (RPC). This is the second year in a row to see record breaking increases.
Unplanned IT and telecom outages is leading threat to business
A survey by the Business Continuity Institute (BCI) has found that the leading threat to business is unplanned IT and telecom outages.
Fitch sees Bermuda market as ‘fundamentally resilient’
Fitch Ratings has said that Bermuda-domiciled reinsurers are well positioned to benefit from an improved underwriting and somewhat better pricing environment this year, following a very difficult 2011.
Commission launches debate on corporate restructuring
The European Commission has launched a Europe-wide public debate on corporate restructuring and anticipating change.
ACE opens Ukrainian office
ACE has opened a representative office in Ukraine, based in Kiev. ACE has appointed Yuriy Shustyk, previously Executive Director at Aon Risk Solutions, Ukraine, to manage the new office.
BI problems spark fresh call for innovation from top German risk manager
A strong call on insurers to develop 'ready to use' products in business interruption was made by Jurand Honisch, Risk Manager at German publishing giant Bertelsmann, at this year's New Year's reception of the German operation of Spanish insurer, Mapfre.
Insurers braced for over €500m in claims from Costa
The grounding of the cruise vessel Costa Concordia, which was damaged when it hit a rock off the Italian island of Gilio and capsized, will cost the global insurance market more than €500m, German insurance sources said this week.
Guernsey captive numbers up as Fitch stresses Solvency II threat
Fitch Ratings has warned that Solvency II poses 'significant challenges' for the European captive market in the same week that Guernsey, which will not apply the new capital rules, announced a strong increase in captives registered, partly because of its decision not to join the new regime.
The captive question
Tony Dowding asked a group of leading captive managers and other experts what they believe will be the key considerations for captives as Solvency II nears implementation. The fog is clearing but captive owners still face a few big unanswered questions.
