Enterprise risk management teams could increase their efficiency and drive better risk insight and mitigation by using generative AI tools. Highlighting the ways in which typically resource-constrained ERM teams can increase efficiency, Gartner proposes that ERM professionals use GenAI as a communicator, notetaker, researcher, librarian and trainer.

UK business insolvencies totalled 26,708 in 2024 representing a drop of 5% on the previous year, bucking the global trend. They are forecast to drop by 3% this year and 7% in 2026. In contrast, global business insolvencies were up 10% in 2024 with increases of 6% and 3% expected this year and next, according to the latest Allianz Trade Global Insolvency Report.

Commercial property insurance group FM today began construction at its new Science and Technology Centre in Luxembourg. The new facility will serve as its central hub for research, innovation and client engagement in EMEA. Luxembourg has been home to the group’s European headquarters since 2017.

Howden Scotland has acquired the book of business of Edinburgh-based SKB Independent Insurance Brokers. Founded by CEO Satvinder Breeze, SKB provides insurance services to businesses throughout Scotland and the UK. SKB has been rebranded as Howden, and will be integrated into the existing Howden Scotland team based in Edinburgh.

Companies in the energy and natural resources industry are expected to spend over a third more on clean energy technologies in the next financial year, according to analysis by broker and risk advisory Willis. Against the backdrop of increased fossil fuel investment, the risk outlook is complex and interconnected, as companies balance conflicting priorities.

Ignite Specialty Risk, which specialises in litigation risk insurance, is to offer its products to insureds in the European Economic Area. This includes after the event, and single risk and portfolio capital protection insurance. The move builds on Ignites existing presence in the UK and the US.