News

Specialist insurer Beazley is to offer clients that opt in to Marsh’s Environmental, Social and Governance Risk Rating global access to additional capacity through its Lloyd’s of London Syndicate 4321.
Posted: 2022-06-27
Dairy Crest has been fined £1.5m by the Environment Agency – the largest such fine ever awarded in the South West. The UK’s largest dairy processing facility, and one of the biggest manufacturing sites in Europe, produces 57,000 tons of dairy products a year. Some 1.3 million litres of milk is brought to site daily from about 370 local dairy farms.
Posted: 2022-06-24
Miller has announced the appointment of Susana Bramwell to lead the broker’s expansion into media, TV and film.
Posted: 2022-06-24
Retrospect has launched its cloud storage offering, Retrospect Backup 19.
Posted: 2022-06-24
WTW and Solera Audatex have developed the inflation forecasting tool to help motor insurers more accurately allow for the future cost of motor repairs in their pricing.
Posted: 2022-06-23
With merger and acquisition deal values exceeding the equivalent of £815bn for the first time last year, brokers have a role in helping technology clients and their SME targets mitigate the unique risks they face when considering M&A, according to CFC.
Posted: 2022-06-23
Retail sales volumes fell slightly in the year to June, marking the third successive month in which volumes have failed to grow, according to analysis of 100 companies from the CBI. Stock levels in relation to expected sales were “too high” in June, and are expected to remain so in July.
Posted: 2022-06-23
The Food Authenticity Network has published a new online portal for professionals working in the food and drink supply chain, with information related to potential or actual disruption to supply chain resulting from the war in Ukraine.
Posted: 2022-06-22
JLT Specialty Limited has been fined £7,881,700 for financial crime control failings, which in one instance allowed bribery of over US$3m to take place, the Financial Conduct Authority has confirmed. JLTSL was part of JLT Group, which had a number of subsidiaries globally.
Posted: 2022-06-22
Interest in more sustainable smartphone devices is growing, with emerging brands leading the way.
Posted: 2022-06-22
A new UK-wide network of hydrological measuring equipment has been proposed to support the country’s research in, and resilience to, extreme weather events such as flood and drought. It is hoped that the government-led UK Research and Innovation will invest £38 million in the Floods and Droughts Research Infrastructure project, slated to start early next year.
Posted: 2022-06-21
The biggest rail strikes in 30 years will this week see 40,000 workers walk out on Tuesday, Thursday and Saturday, at a time when businesses are already struggling with post-pandemic recovery and ongoing supply chain disruption. The events and hospitality sectors are expected to suffer their latest disruptive blow, as staff are unable to get into work, and customers stay away.
Posted: 2022-06-21
The Government Actuary’s Department has worked with the Department for Education to extend its risk protection arrangement to include cyber incidents.
Posted: 2022-06-21
Intact Insurance Group has bought Tokio Marine Highland’s US construction division from Tokio Marine Kiln. The division provides primary and excess builders risk insurance in the US and employs around 40 people. It is headquartered in Naperville, Illinois.
Posted: 2022-06-20
QBE Insurance is to roll out a range of products from cyber risk analytics firm CyberCube.
Posted: 2022-06-20
Over half of UK employees polled by the Chartered Management Institute in March this year have reported having witnessed or experienced discrimination in the workplace.
Posted: 2022-06-20
It was a big night for CMAC and Royal Mail Group at the 2022 Business Continuity Awards. Find out who took home a trophy from the industry’s main event, hosted by the one and only Paul Sinha, at the London Marriott Grosvenor Square.

Congratulations to all our finalists and especially to...
Posted: 2022-06-17
Like 2021, 2022 has been a time of great change for our members and clients around the world. Global Insurance Law Connect recently published the fourth edition of our Risk Radar report, examining trends in members’ insurance markets. What is most striking from this edition is the rise of a group of megatrends that span every jurisdiction and by necessity, require a wholesale global response. Our members have been focused on cyber, climate risk, and the pandemic’s long tail – with an emphasis on the stability of the D&O market.
Posted: 2022-06-16
In a world where climate change is altering the substance of our physical environment, and new technologies are upending established norms, emerging risks are presenting novel challenges for businesses and insurers. As the global risk community deals with known risks, a new report calls attention to the less familiar emerging risks landscape.
Posted: 2022-06-16
Among the 200 largest worldwide insurers, fewer than 25% have truly digitalised the value chain, while more than 10% are not appreciably leveraging digital technologies within their current business processes.
Posted: 2022-06-16
Pine Walk Capital has launched its seventh MGA. Pernix Specialty specialises in political risk and non-payment risks and will be led by CEO Kade Spears and CUO Caroline Coulson.
Posted: 2022-06-15
The Investing and Saving Alliance has launched a Best Practice Guide to assist industry participants looking to complete the European ESG Template.
Posted: 2022-06-15
Zurich Insurance Group has announced plans to digitalise its international programmes business with the goal of providing stakeholders with a more efficient and sustainable service across insurance programme management, binding and renewals, and claims management.
Posted: 2022-06-15
A lack of awareness around the dangers of workplace slips, trips and fall persists in UK workplaces, with a significant impact businesses and their employees. This is among the findings of a new report into workplace STF, published today by accident prevention charity, The Royal Society for the Prevention of Accidents and insurer, RSA.
Posted: 2022-06-14
The destabilising potential of disrupted supply chains and the rising cost of living due to inflation could stir civil unrest, prompting risk specialists to warn companies to review business continuity and contingency plans. With confidence in leadership being concurrently undermined, the role of social media platforms in activating civil unrest is becoming increasingly influential, according to AGCS.
Posted: 2022-06-14
More than half of M&A dealmakers fear the impact of geopolitical uncertainty, with activity in Europe more likely to be significantly impacted than other markets. This is according to the latest Aon/Mergermarket Global M&A Risk in Review report, published today.
Posted: 2022-06-14
Recent geopolitical developments and economic turmoil have significantly altered business leaders’ perceptions of the risks they face and their resilience to those risks, which has fallen dramatically since 2021. The impact of inflation is a cause for particular concern, alongside the fear that global tensions are increasing the threat from external forces.
Posted: 2022-06-13
Losses at the top 100 UK restaurant groups grew 24% from £673m to £832m in the past six months, according to figures from accountancy group, UHY Hacker Young.
Posted: 2022-06-13
The Ghana Ministry of Finance, the United Nations Development Programme, the German government and the Insurance Development Forum have today announced the launch of a collaborative project to develop a sovereign risk transfer scheme for urban floods in Ghana, alongside long-term investments in the country’s capacity to leverage and integrate insurance and risk financing into their development strategies.
Posted: 2022-06-13
Allianz Trade is partnering with B2B e-commerce payments platform, Two, to develop the buy-now-pay-later finance market for SMEs and their clients.
Posted: 2022-06-10
Legislation was laid this week that will make monkeypox a notifiable infectious disease, compelling doctors to notify their local council or local Health Protection Team if they suspect a patient has monkeypox. The UKHSA has meanwhile detected 45 additional cases of monkeypox in the UK, bringing the total number confirmed to 366.
Posted: 2022-06-10
Most people who switched to homeworking during the pandemic plan to work in a hybrid capacity moving forward, according to data from the ONS’s Opinions and Lifestyle Survey.
Posted: 2022-06-10
Supply chain risk management organisation, CHAS, has joined forces with the Supply Chain Sustainability School to develop the Fairness, Inclusion and Respect Growth Assessment.
Posted: 2022-06-09
The British Insurance Brokers’ Association has announced a partnership with Travelers Europe.
Posted: 2022-06-09
A new group focusing on environmental, social and governance issues has been established by the International Underwriting Association. Among the issues discussed at the IUA committee’s first meeting were efforts to end modern slavery and forced labour and initiatives to measure ESG commitments in the insurance sector.
Posted: 2022-06-09
DXC Technology has won a multi-year contract to deliver network and security services to the European Space Agency. Pictured: Frame for Artemis IV. The fourth European Service Module structure to power astronauts on NASA's Orion spacecraft to the Moon is now complete. The structure is seen here at a Thales Alenia Space site in Turin, Italy.
Posted: 2022-06-08
Wefox has appointed Hanna Jacobsson as chief risk officer.
Posted: 2022-06-08
A large number of organisations have increased cyber security and data protocols over the past two years but still struggle with employee compliance. Whilst organisations have adapted security policies to accommodate hybrid work, they are still at risk due to lack of security awareness – particularly when data is on the move between work locations.
Posted: 2022-06-08
Investment in risk management appears to be paying off, as ransomware frequency data shows notable moderation, albeit from elevated levels.
Posted: 2022-06-07
The UK is well prepared to address climate-related risks, while the key manufacturing nations of India, Vietnam and some regions in China all rank poorly for both Climate Risk Exposure and Climate Risk Quality. This is among the findings of the 2022 FM Global Resilience Index, which examines climate vulnerabilities and resilience via 15 economic, risk quality and supply chain measures.
Posted: 2022-06-07
Airmic has launched a raft of new educational and thought leadership publications at its conference in Liverpool today, including the 2022 Annual Survey, and Explained Guides on general insurance, broker tenders and employee benefits.
Posted: 2022-06-07
Loss adjuster QuestGates is warning hospitality businesses that the accelerated use of QR codes is making them vulnerable to criminals looking to steal data and money. The warning follows an industry-wide uptake of the codes to facilitate trading during the pandemic.
Posted: 2022-06-06
WTW has today announced the enhanced capability of its Climate Diagnostic tool, which first launched just over a year ago.
Posted: 2022-06-06
Trust Payments has today announced a multi-year partnership with Feedzai’s cloud-based risk management platform, RiskOps.
Posted: 2022-06-06
Chief audit executives cite the war in Ukraine as the number one macroeconomic and geopolitical risk facing businesses today.
Posted: 2022-06-01
The UK Health Security Agency has this week published new guidance principles on how to effectively limit transmission of monkeypox. This includes advice and protocols for those testing positive for monkeypox, their close contacts and anyone involved in their treatment or care, including healthcare workers.
Posted: 2022-06-01
The percentage of UK exporters expecting turnover to fall this year has increased from 11% to 19% since the start of the Ukraine conflict, with fear of non-payment spiking since the invasion from 27% to 53%.
Posted: 2022-06-01
Zurich’ ESG rating has been upgraded to 'AAA' from 'AA' by MSCI. MSCI ESG Ratings aim to measure a company's resilience to long-term ESG risks. Companies are scored on an industry-relative AAA-CCC scale across the most relevant key Issues based on a company's business model.
Posted: 2022-06-01
The Chartered Institute of Internal Auditors has welcomed the government’s response to the audit White Paper consultation along with the commitment to publish a draft Audit Reform Bill, which, it said, was long overdue.
Posted: 2022-05-31
After six years of above-average seasons, catastrophe risk experts from AGCS and Allianz Re anticipate this trend to continue in the 2022 Atlantic hurricane season, which starts tomorrow. The 2022 season is expected to see 14 to 21 tropical storms and 6 to 10 hurricanes (including 3 to 6 major hurricanes).
Posted: 2022-05-31
F24 has widened its portfolio into the DACH region with the acquisition of Business-DNA Solutions, a provider of governance, risk and compliance tools.
Posted: 2022-05-30
The value of biometrically authenticated remote mobile payments may reach almost £1trn globally by 2027 (from £263bn in 2022), according to a new study from Juniper Research.
Posted: 2022-05-30
Like most children I was taught at an early age that lying is a bad thing. I should always tell the truth. As they grow up, children also learn that truth is a social construct. Some lies are acceptable when they spare another’s feelings, and not every truth, view, or opinion merits being shared. What my parents really meant is that I should be honest with them when they asked me a question about something I had done.
Posted: 2022-05-30
A report from broker Marsh and technology giant Microsoft has found the upheaval of recent workplace disruption and accelerated digital transformation has left most business leaders no more confident in managing their cyber risk than they were two years ago.
Posted: 2022-05-27
Beazley has launched an online incident response platform for US cyber policyholders. This new platform will serve as a central location to monitor and manage incidents, and centralise communications between the policyholder, Beazley and specialist service providers.
Posted: 2022-05-27
Cases of monkeypox continue to be confirmed and suspected in a number of non-endemic countries, in the largest recognised outbreak of this virus among people with no travel history to countries where the disease is endemic. As of 25th May, data from the Johns Hopkins Center for Health Security confirms 229 cases in 19 countries.
Posted: 2022-05-27
WTW has launched a specialist ports and terminals cyber product. CyNav for Ports and Terminals is designed to address the specific cyber threats faced by port and terminal owners and operators, providing cover for BI losses, including those arising from IT service providers, property damage, wrongful delivery of cargo, regulatory actions and crisis management expenses.
Posted: 2022-05-24
Jobs that require abstract thinking, people engagement and soft skills are less likely to be automated in the future, according to research just published by the London School of Economics and Political Science.
Posted: 2022-05-24
HDI Global and HDI Global Specialty’s UK and Ireland branches are to be aligned under a common leadership structure responsible for over £1bn in GWP.
Posted: 2022-05-24
Global recovery from the impact of the pandemic has been thwarted by the Russia-Ukraine conflict, which is having a negative impact on global growth, according to a report from insurer Atradius. Growth momentum for emerging market economies is weakening too, as fiscal and monetary support from other markets is being rapidly withdrawn.
Posted: 2022-05-23
ICEYE has announced the start of a pilot activity with the European Space Agency to support the Copernicus Emergency Management Services team with flood insights.
Posted: 2022-05-23
Thirty-six more cases of monkeypox have been identified by UKHSA since 7th May, bringing the total number of cases confirmed in England to 56.
Posted: 2022-05-23
UK manufacturing output grew at its fastest pace in ten months over the quarter to May, but output still failed to keep pace with demand, according to the latest CBI monthly industrial trends survey.
Posted: 2022-05-20
In the wake of Russia’s invasion of Ukraine and the shift to hybrid working, the Institute of Directors has found that 72% of business leaders view cyber risk as a significant concern for their organisation, with 58% believing that the risk of a cyber attack on their organisation has increased.
Posted: 2022-05-20
The pandemic, global warming and now the war in Ukraine have forced organisations to rethink how they keep up with the speed of new risks emerging, the profile of risks changing, and how risk management practices must adapt as a result.
Posted: 2022-05-20
Public health experts worldwide are on alert over several outbreaks of confirmed and suspected monkeypox in the UK, Portugal, Spain, Canada and the US. The World Health Organisation has begun extensive contact tracing and viral sequencing of the confirmed cases, while European health authorities are monitoring for any other suspected cases.
Posted: 2022-05-20
The UK’s Health Security Agency confirmed Friday that eleven more cases of monkeypox had been identified, bringing the total number of monkeypox cases confirmed in England since 6th May to 20.
Posted: 2022-05-20
Insurers need to fundamentally change their business models if they are to achieve climate resiliency, according to a new report by Capgemini and Efma.
Posted: 2022-05-19
Risk modelling solutions firm RMS has announced four new high definition models, including Europe Windstorm, North America Winterstorm, North America Severe Convective Storm, and Terrorism.
Posted: 2022-05-19
The war in Ukraine could prove to be the tipping point that forces millions of people around the world into hunger, warns the UN secretary general António Guterres. The climate emergency, the economic shock of the Covid-19 pandemic, and now conflict in Ukraine have all contributed to a worsening outlook that he says has already pushed an estimated 500,000 people into famine conditions.
Posted: 2022-05-19
A new app has been launched which allows users of social media and professional networking sites to better identify the hallmarks of fake profiles used by foreign spies and other malicious actors.
Posted: 2022-05-18
Supply chain congestion is increasing the time cargo sits idle during its journey and is increasing the risk of theft, according to a report for 2021 from transport and logistics insurer, TT Club and global provider of supply chain intelligence, BSI.
Posted: 2022-05-18
The Architects Registration Board (ARB) has published new draft guidance on the insurance arrangements architects are expected to have in place to remain compliant with its code of conduct as it looks to address the issue of spiralling costs of cover.
Posted: 2022-05-18
The vast majority of businesses and consumers feel overwhelmingly positive about their insurance providers and most of the insurance policies they buy, according to research by legal firm DWF. It found that 93% of consumers and 94% of businesses are satisfied with the service they receive from their current insurers.
Posted: 2022-05-18
Despite ongoing efforts and activity towards gender equality, workplace gender equity remains elusive, according to analysis by the Chartered Management Institute (CMI). The research has revealed that passive and even active resistance to gender equality, particularly from male managers, is prevalent.
Posted: 2022-05-17
One in five businesses across eight countries said that a cyber attack almost rendered them insolvent, according to the latest cyber readiness report by Hiscox; an increase of almost a quarter (24%) compared to the previous year. The frequency of cyber attacks increased by 12% year-on-year – with 48% of businesses saying they suffered a cyber attack in the past 12 months.
Posted: 2022-05-17
Munich Re has launched its new CertAI validation service, aimed at enhancing the acceptance of artificial intelligence (AI).
Posted: 2022-05-17
Most employers have skills shortages in their workforce or expect to have shortages in the next five years, according to research by PwC. A third of respondents said they were experiencing a current shortage in core business skills such as teamwork, leadership, relationship-building and communication skills, while a further 41% expected to have shortages in the year ahead.
Posted: 2022-05-16
The water sector has been identified as the industry most resilient to future disruption, and retail as the least, according to a new survey from professional services company GHD.
Posted: 2022-05-16
Churches across the UK are being urged to remain vigilant amid fears of a rise in metal theft. The warning comes from specialist insurer Ecclesiastical, which saw a fall in theft of metal claims during the pandemic, but says criminal activity is likely to rise again over the coming months.
Posted: 2022-05-16
Cyber attacks and data loss are the top liability risks facing directors and officers, with cyber extortion and the growth of ransomware attacks also flagged up as a significant source of financial or reputational risk, according to a survey by WTW and law firm Clyde & Co.
Posted: 2022-05-13
Accountancy group KPMG has been given a £14.4m fine after a tribunal found it had deliberately misled regulators during the course of its work for construction firm Carillion.
Posted: 2022-05-13
The UK financial sector’s view of current key risks has shifted according to a new Bank of England survey, with cyber, geopolitical and inflation-related concerns topping the list.
Posted: 2022-05-13
GMB Union and Deliveroo have signed a union recognition deal covering the company’s more than 90,000 self-employed riders. The Voluntary Partnership Agreement will see GMB have rights to collective bargaining on pay and consultation rights on benefits, riders' health, safety and well-being. GMB will also be able to represent individual riders in disputes.
Posted: 2022-05-12
Trigo Group has acquired industrial AI start-up Scortex.
Posted: 2022-05-12
Howden has acquired the business and assets of Singapore-based Aegis.
Posted: 2022-05-12
The Health Claims Bureau Group is renewing its partnership with Healix Health Services. In the last six months, HCB Group has helped over three quarters (77%) of those who used the service to return to work through its Early Intervention programme, while achieving other positive outcomes, such as partial return to work or referrals to specialists, for a further 9% of cases.
Posted: 2022-05-11
The systems that underpin the UK’s critical national infrastructure are under increasing cyber threat, according to a report from cyber security services firm, Bridewell. Some 72% of cyber security decision makers at UK CNI organisations have reported a rise in attacks since the start of the Ukraine war.
Posted: 2022-05-10
Rising competition for supremacy over soil, sea, and space is expected to fuel future global geopolitical tensions as nations seek to stake their claims on sea-based borders, previously untapped mineral resources and the cosmos, according to a new report from Marsh Specialty.
Posted: 2022-05-10
Pool Re has today announced the most significant reduction in its reinsurance pricing for 20 years. The extent of the reduction will vary according to geographical location. Overall, reinsurance pricing will reduce by about 20% outside central London, and could reduce by more than 30% in non-urban areas.
Posted: 2022-05-09
Some 59% of SMEs are relying on credit to pay for their insurance, borrowing on average around £1,105. Nearly 9% of those report having borrowed over £3,000 to fund their cover.
Posted: 2022-05-09
A new report released by environmental disclosure system CDP and Planet Tracker suggests that financial institutions are exposed to significant and growing risks posed by depleted and contaminated water supplies.
Posted: 2022-05-09
A new report published today by the Alliance for Sustainable Building Products highlights the challenges faced by developers in their attempts to reduce carbon emissions in new building projects.
Posted: 2022-05-05
Research carried out by cyber security firm, ESET, shows that the media sector has been hit the hardest by cyber crime with 39 reported incidents in the first quarter of this year, followed by online technology and telecoms, retailers and manufacturers.
Posted: 2022-05-05
Catalina General Insurance has entered into an agreement with subsidiaries of QBE Insurance Group for a loss portfolio transfer of QBE’s legacy North American Excess and Surplus lines prior accident year liabilities.
Posted: 2022-05-05
The value of the opportunity provided by the global transition to net-zero could be large enough to double the size of the London insurance market, according to the London and International Insurance Brokers’ Association.
Posted: 2022-05-04
The global offshore energy and shipping sectors are under a greater than expected threat from climate change as extreme weather becomes more commonplace.
Posted: 2022-05-04
Castel Underwriting has launched a contingency underwriting cell, focusing on the sports, leisure and entertainment industries.
Posted: 2022-05-03
Sword GRC has released the latest version of its Active Risk Manager solution. The risk, compliance and governance software and services provider's flagship product, ARM 2022, now offers a range of new usability features for comprehensive project and enterprise risk management.
Posted: 2022-05-03
Howden has promoted Jenny Lim to the role of CEO of its Singapore operations, the broker’s largest retail operation in Asia, and home to its regional headquarters.
Posted: 2022-05-03
Coverys has announced the launch of Coverys International Insurance Company.
Posted: 2022-04-29
Global investment in insurtechs broke all records in 2021. Total funds invested, at US$15.8bn, was the highest annual capital inflow ever – more than in 2020 and 2019 combined. The year’s 564-deal total broke a further record. New highs were also seen for international participation, unicorn creation, IPOs, and single-deal size, with Integrity Marketing Group's US$1.2bn in December among these.
Posted: 2022-04-29
In the week that US President Biden’s chief medical advisor, Dr Anthony Fauchi, said that the US was "transitioning" out of the pandemic phase, and the EU declared an end to its "emergency phase", most regions of the world have indeed continued to report decreasing trends in cases of Covid-19; but the devil is, as ever, in the detail.
Posted: 2022-04-29
The Institute and Faculty of Actuaries has welcomed the government’s long-anticipated consultation on ‘Solvency UK’, which it says represents a "major opportunity to overhaul Solvency II to ensure it aligns with a post-Brexit world".
Posted: 2022-04-28
Legal expenses insurance and assistance provider ARAG has reported its twelfth profitable year in succession, during which the company’s GWP passed £50m for the first time.
Posted: 2022-04-28
Swiss Re Institute forecasts a “stagflation-like” economic environment for 2022 and 2023 – or an economy characterised by higher inflation and lower real GDP growth. However, the risk of a 1970s-style economic environment is unlikely, it contends, as, unlike the structural stagflation of that era, this stagflation will be cyclical, with the slowdown in economic growth leading to lower but still very high inflation in 2023.
Posted: 2022-04-28
Cambridge Mobile Telematics has announced the release of Advanced Risk, a new solution that allows insurers to analyse and measure driver risk using such new variables as contextual speed, advanced distraction and compound events.
Posted: 2022-04-27
Global commercial insurance prices increased by 11% in the first quarter of the year, according to the Global Insurance Market Index published today by Marsh, continuing a trend of moderating rate increases that began in Q1 2021.
Posted: 2022-04-27
Global specialty re/insurance group, Chaucer, has announced its commitment to achieve net-zero greenhouse gas emissions across all business operations by 2050 or sooner. This includes its global underwriting and investment portfolios.
Posted: 2022-04-27
Half of UK senior decision makers are prioritising growth in their organisation while one in five are prioritising the reduction of carbon emissions, according to the BSI’s annual Net-Zero Barometer Report.
Posted: 2022-04-26
The UK government has announced a range of measures designed to support Ukraine in its conflict with Russia by removing all tariffs covered by the existing UK-Ukraine trade deal and imposing the Putin government with fresh sanctions.
Posted: 2022-04-26
Geo-coding and property intelligence specialist, Addresscloud, has partnered with flood and climate risk data provider, Ambiental Risk Analytics to help insurer clients better understand and mitigate potential financial losses or other negative consequences of the rapidly changing climate on their Europe-wide portfolios.
Posted: 2022-04-26
EigenRisk is to incorporate ICEYE's flood insights for large-scale flood events into the EigenPrism catastrophe risk management platform.
Posted: 2022-04-25
Hitachi Vantara is leveraging Risk Solved’s global risk management platform to bolster its
insurtech capabilities.
Posted: 2022-04-25
The Lloyd’s Market Association has announced the appointment of Janine Powell as claims director.
Posted: 2022-04-22
A review carried out by the Financial Conduct Authority has found that challenger banks need to improve how they assess financial crime risk, with some failing to adequately check their customers’ income and occupation. In some cases, challenger banks were found to have no financial crime risk assessments in place at all.
Posted: 2022-04-22
Research published today suggests that a large number of insurance brokers don’t have the resource or knowledge to tackle the climate crisis by setting carbon reduction targets. And some have no interest at all in net-zero...
Posted: 2022-04-22
Business resilience professionals predict 'peak risk' in the coming months, with geopolitical, war and economic risks dominating thinking – even before the invasion of Ukraine. This is among the findings of Beazley’s annual Risk and Resilience research of firms in the UK, the US, Canada and Singapore – undertaken prior to the invasion of Ukraine.
Posted: 2022-04-21
The Chartered Insurance Institute is offering insurance professionals help to address stress, after 65% identified heavy workloads as the greatest cause of work-related pressure.
Posted: 2022-04-21
The Financial Conduct Authority has finalised its review of the rules requiring listed companies to report information and to disclose against targets on the specific representation of women and ethnic minorities on their boards and among executive management.
Posted: 2022-04-20
The Department for Transport and the Centre for Connected and Autonomous Vehicles
have published the findings of cognitive testing research into whether the revised Highway Code wording about automated vehicles is clearly understood by drivers.
Posted: 2022-04-20
Supply chain risk management organisation, CHAS has introduced a new solution designed to enables buyers and suppliers to demonstrate their regulatory compliance around health and safety, environmental issues, modern slavery, diversity, equality and inclusion across the supply chain.
Posted: 2022-04-20
French reinsurer SCOR has said it expects heavy losses – running to double digit millions – from the ongoing war between Russia and Ukraine. It said its Russian subsidiary SCOR PO had stopped underwriting business while the group expected significant losses in lines including political risks, credit and surety, and aviation.
Posted: 2022-04-19
Financial data belonging to some 42.2 million people in the UK was compromised last year, up a staggering 1,777% from 2.2 million in 2019-20. Law firm RPC says the huge spike likely reflects an increase in the amount of data compromised, due in part to ransomware attacks. These can potentially involve significant quantities of data being copied at the same time as encrypting the target’s data.
Posted: 2022-04-19
Swiss Re has this week closed a multi-year stop-loss transaction, with financing provided by JP Morgan, among other institutional investors. The transaction, which covers underwriting risks across the entire Swiss Re Group, is understood to be the first of its kind in combining bank financing and insurance-linked securities.
Posted: 2022-04-14
Kenyon International Emergency Services has managed the evacuation for a large financial services firm of around 300 people from Ukraine following the Russian invasion. Kenyon supported employees and their families by providing remote mental health support to the company’s employees ahead of the invasion.
Posted: 2022-04-14
Bosch Service Solutions, app developer Sfara, and digital solutions provider eDriving have together developed a new driver risk management tool for fleet operators.
Posted: 2022-04-14
Risk management society, RIMS, has modernised its Risk Maturity Model Available online for organisations around the globe, the completely revamped RIMS RMM guides strategic risk professionals in identifying their risk programme’s maturity level, in targeting areas for improvement.
Posted: 2022-04-13
Optimism in UK financial services has fallen at the quickest pace since September 2019, according to the latest CBI/PwC Financial Services Survey. Operational resilience emerged as a key theme amongst respondents, with 92% at least citing resilience as the key priority for future business strategy and transformation plans.
Posted: 2022-04-13
Kennedys is to receive government funding to develop software that aims to identify and assess reputational risk. Awarded through the Innovate UK programme, the law firm will work with a consortium of academics and industry professionals to develop a real-time index of any risk relating to an organisation’s ‘corporate citizenship’, measured through ESG elements and practices.
Posted: 2022-04-13
The Lloyd’s building at London’s Lime Street was closed this morning after around 70 protesters from Extinction Rebellion blocked the entrances from 0700, preventing staff from entering, with the intention of shutting the Lloyd’s market for the day.
Posted: 2022-04-12
The Risk Management Awards 2022 are open for entries.
Posted: 2022-04-12
Tokio Marine Kiln has launched IP abatement insurance for clients in the US. The product will be available for SMEs with revenues under US$100m, in particular start-ups holding intellectual property rights. The abatement add-on product will cover legal representative’s fees and legal expenses incurred by organisations seeking to protect their filed intellectual property rights and will feature coverage limits of up to US$3m.
Posted: 2022-04-12
The Office for Product Safety and Standards has launched a new product safety alerts, reports and recalls site to help the British public, businesses and consumer groups identify unsafe products.
The new service helps users to search for previously recalled or reported products; filter pages by product category, risk level, measure type, date and type of alert; and subscribe to instant, daily, or weekly updates
Posted: 2022-04-11
Lime Global has launched a modular healthcare subscription service.
Posted: 2022-04-11
UN Secretary-General António Guterres has launched the High-Level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities to provide scrutiny of corporate and non-state net-zero target standards and reporting.
Posted: 2022-04-11
The pandemic has spurred a behavioural reset when it comes to digital transformation, with the biggest investments made in machine learning (60%), artificial intelligence (50%) and document-centric process automation (50%).
Posted: 2022-04-08
Communities in the UK are being urged to share their experiences as part of a major independent review into the impacts of extremism. Dame Sara Khan, Independent Adviser for Social Cohesion and Resilience, launched the 8 week call for evidence to help examine the impact, harm and response to extremism at a local level.
Posted: 2022-04-08
The British Insurance Brokers’ Association has launched a new guide to the benefits of trade credit insurance.
Posted: 2022-04-08
The UK government’s new energy strategy sets an ambitious bar for a more resilient, low carbon energy system, but does not go far enough to address the current crisis, business group the CBI has said. Nuclear will provide clean and stable power for consumers and businesses, as will renewable technologies, and a commitment to planning reforms and rapid approvals.
Posted: 2022-04-07
The Industry and Regulators Committee has written to the economic secretary to the Treasury, John Glen (pictured), to outline the concerns about a lack of proportionality in the regulation of the London Market by the Financial Conduct Authority and the Prudential Regulation Authority, which was described as “overly demanding and burdensome”.
Posted: 2022-04-07
Live flood alert insurtech, Previsico, has today announced a partnership with flood resilience solutions provider, Watertight International.
Posted: 2022-04-07
The risk management community anticipates that travel and working patterns may stabilise by the end of 2022, according to a report published today. Working practices and employee expectations have changed radically as a result of the pandemic, as WFH has become entrenched, and 9 to 5 in the office is only for the few.
Posted: 2022-04-06
Matterport has released a motorised mount for smartphones, designed for use with the Matterport Capture app. The app creates 3D digital twins of any physical space to help useres operate, document, manage and measure properties virtually.
Posted: 2022-04-06
Verisk has formed the Verisk Climate Advisory Council, whose members will provide strategic guidance and feedback on the company's climate change solutions in development, such as the climate conditioning of the company’s extreme event models; and present research, specific to each members’ specialty area, regarding the evolving state of climate change.
Posted: 2022-04-06
Fines totalling almost half a billion pounds were handed out to UK companies during 2021, according to data published today by law firm, BLM. These include fines from four major UK regulators, including the Serious Fraud Office, the Financial Conduct Authority and the Information Commissioner’s Office.
Posted: 2022-04-05
Healix Health Services has launched its new digital health solution, providing employers with access to digital health support services.
Posted: 2022-04-05
The pressure to manage energy transition risk is being accelerated by the need to seek alternative sources of energy to oil and gas following events in eastern Europe, according to WTW’s latest annual Energy Market Review. The report reflects a volatile energy sector, with commodity prices surging to record levels, and growing concern around higher inflation rates.
Posted: 2022-04-05
Inigo has issued its inaugural catastrophe bond, less than 18 months after the firm began writing its portfolio of specialty insurance and reinsurance. Montoya Re, launched on 1st April, is a US$115m transaction covering earthquake and windstorm risk in the US, Canada and Japan. The risk period will be three years and the coupon is 6.75% above money market fund returns. The bond was structured by Aon Securities and fronted by Hannover Re.
Posted: 2022-04-04
Howden has further expanded in Italy, growing its footprint there with the acquisitions of Nord Est Insurance Broker and ASI. Since establishing its operations in the country one year ago, the broker has made five acquisitions, including the largest independent insurance broker in Italy, Assiteca, and the specialist brokers Andrea Scagliarini and Tower.
Posted: 2022-04-04
HSB UK and Ireland has announced the completion of its purchase of the MD Group of companies, including its managing general agent, MD Insurance Services Ltd and its Premier Guarantee and LABC Warranty brands.
Posted: 2022-04-04
Some Long Covid claims are starting to emerge in certain life insurance morbidity product claims, particularly disability income in the US, with more widespread claims likely to follow. This is according to a Sector Comment published this week by Moody’s Investors Service.
Posted: 2022-04-01
Fusion Risk Management has enhanced its compliance offering for the financial services and insurance sectors, with the integration with Unified Compliance's Framework.
Posted: 2022-04-01
Zurich Insurance Group is bringing forward its net-zero target by 20 years, aiming to reach the goal by 2030. After implementing plans announced last year to achieve deep cuts in absolute emissions this decade, the insurer has signed carbon removal agreements with several suppliers of nature-based solutions.
Posted: 2022-03-31
Marsh McLennan has announced its intention to set and execute low-carbon transition strategies that chart a path to net-zero across its operations by 2050 and reduce its emissions by 50% by 2030. The company will also set an emission reduction target aligned with the Science Based Targets initiative’s criteria.
Posted: 2022-03-31
TCO Development has announced a new international collaboration with the Sustainable Digital Infrastructure Alliance, SDIA, with the goal of supporting progress towards more sustainable datacentre solutions and helping organisations to select and purchase IT products responsibly.
Posted: 2022-03-31
The Data Council and its Technical Group have unanimously agreed that ACORD will be the market’s chosen data standards methodology, with the content of the Core Data Record set to align with that.
Posted: 2022-03-30
Robin Smith, Head of Cyber and Information Security at Aston Martin; and Dr. Gianluca Pescaroli, Lecturer in Business Continuity and Organisational Resilience, and Director of the MSc in Risk, Disaster and Resilience Institute for Risk and Disaster Reduction, University College London are among the latest speakers added to the roster at CIR’s upcoming one-day Resilience Series event.
Posted: 2022-03-30
The number of ransomware attacks reported to the Information Commissioner’s Office increased 100% from 326 in 2020 to 654 in 2021, according to analysis of data conducted by law firm RPC.
Posted: 2022-03-29
Castellan Solutions has released its latest SaaS platform, with expanded capabilities for supporting enterprise organisations with resilience management.
Posted: 2022-03-29
Aon’s Impact Forecasting catastrophe model for severe convective storm is to be enhanced to incorporate the latest climate science.
Posted: 2022-03-29
Changes being made to remove eligibility for the use of red diesel and rebated biofuels will increase the risk for environmental incidents, hazards and property damage, according to environmental experts at Sedgwick.
Posted: 2022-03-28
Clyde & Co and BLM are to merge, following a vote in favour by partners at both firms. Scheduled to go live in July 2022, the new entity will be known as Clyde & Co, and will have a global revenue of over £700m a year, 5,000 staff and offices in 60 cities.
Posted: 2022-03-28
Cyber provider Acronis has become West Ham United Football Club’s official cyber protection partner, providing integrated data protection and cyber security solutions for the English Premier League Football Club.
Posted: 2022-03-28
Specialist insurance provider CFC has unveiled new policies for tech and media companies to minimise the need for multiple policies. The wordings include cover for products and services liability, IP infringement and defamation, cyber cover, and sub-contractors’ vicarious liability.
Posted: 2022-03-25
Allianz Global Corporate & Specialty covered five of the total of 10 nominations in the Best Picture category of the Oscars, the world's most coveted film awards.
Posted: 2022-03-25
WTW has announced the release of the newest version of its pricing software Radar, which features a fully integrated capability with programming language Python. This enables Radar to work more effectively with open source software.
Posted: 2022-03-24
MS Amlin Underwriting has confirmed the business will achieve net-zero by 2050, for all aspects of its operations. This would include Scope 1, 2 and 3 emissions, and apply across all investments and underwriting operations.
Posted: 2022-03-23
Data consultancy Dufrain has launched a tool designed to support businesses with GDPR-compliant management of unstructured data, such as emails, PDFs or MS Teams documents.
Posted: 2022-03-23
Marsh has announced the launch of its Environmental, Social, and Governance Risk Rating assessment tool.
Posted: 2022-03-23
Over half of senior executives working in the insurance industry say that over the last two years, they have experienced increased pressure from stakeholders on ESG matters. This is according to a poll conducted by law firm, DWF, which shows that, when compared with other industries, insurers are under greater pressure to examine ESG strategies.
Posted: 2022-03-22
HSB has launched two new specialist engineering and technology products on its UK e-trade platforms.
Posted: 2022-03-22
Tokio Marine HCC International has restructured its Transaction Risk Insurance division, amid record M&A activity across the globe. The insurer has created two new units: TRI North America and TRI International.
Posted: 2022-03-22
Pool Re has announced the appointment of Tom Clementi as chief executive officer. Currently a strategic advisor at Lane Clark & Peacock, he has many years of insurance industry experience, specifically with MS Amlin where he was most recently CEO of MS Amlin Underwriting.
Posted: 2022-03-21
RMA has joined the Global Earthquake Model Foundation, an international public-private partnership that develops and shares open-source earthquake hazard and risk assessment software, models and data.
Posted: 2022-03-21
Howden Broking has extended its partnership with cyber risk management provider, Kynd, to include its Kynd Signals and Kynd Ready tools.
Posted: 2022-03-21
The glimmer of hope for a move to a more positive post-pandemic world for consumers has been hit with growing economic uncertainties in the past few months, shrinking consumer confidence once again, according to the latest EY Future Consumer Index.
Posted: 2022-03-18
Allianz Insurance has signed up as the first insurance member of solar and energy storage trade association Solar Energy UK. With 256 members across various sectors, the association aims to play a part in trebling the UK’s solar capacity to 40GW by 2030.
Posted: 2022-03-18
The Chartered Insurance Institute has produced good practice guidance to help insurers establish and manage their customers’ intellectual property rights.
Posted: 2022-03-17
The OECD estimates global economic growth will be more than 1% lower this year as a result of the conflict in Ukraine, while inflation, already high at the start of the year, could rise by about a further 2.5% on aggregate across the world.
Posted: 2022-03-17
The UK’s largest ferry operator P&O has sacked all 800 of its crew members and replaced them with agency staff after halting all sailings on Thursday 17 March. The company, which is owned by Dubai-based DP World, said that the move was necessary to “secure the long-term viability" of the business.
Posted: 2022-03-17
The Federal Office for Information Security (BSI) in Germany has warned organisations against the use of anti-virus software from Russian-headquartered firm Kaspersky. It says that the technology firm could be spied on or forced to launch cyberattacks.
Posted: 2022-03-16
Three quarters (74%) of board directors named insolvency as their most significant personal liability risk, although just a third see insolvency as the biggest risk exposure to their business, according to new research from reinsurance broker McGill and Partners.
Posted: 2022-03-16
Lloyd’s of London has fined Atrium Underwriting a record £1m for bullying and misconduct, the largest fine given for misconduct. It issued a notice of censure in response to misconduct that took place at the syndicate, with a fine that Lloyd's says reflects both how unacceptable these circumstances were, and the seriousness with which it is treating this issue.
Posted: 2022-03-16
Analysts have warned of a severe impact on investor confidence since Russia’s invasion of Ukraine and as worries increase over renewed Covid lockdowns in China.
Posted: 2022-03-15
Environmental law group ClientEarth has begun legal action against the board of directors of Shell, arguing that their failure to properly prepare the company for net zero puts them in breach of their legal duties.
Posted: 2022-03-15
The UK government will remove the remaining restrictions on international travel for all passengers ahead of the Easter holidays, with restrictions lifted from 4am on Friday 18 March.
Posted: 2022-03-15
Loss adjuster QuestGates has launched a new cyber incident response line, with support from partner CyberClan.
Posted: 2022-03-14
The Financial Conduct Authority has warned operators of crypto ATMs in the UK to shut their machines down or face enforcement action.
Posted: 2022-03-14
Reinsurance firm Ariel Re has selected the Portfolio Manager cyber risk analytics platform from CyberCube. The platform is a scenario-based data-driven offering designed to enable risk professionals to develop insights for their senior leadership and teams.
Posted: 2022-03-14
Russia’s invasion of Ukraine has altered the emerging risk landscape, requiring enterprise risk management (ERM) leaders to reassess previously established organisational risk profiles in a number of key areas according to a new report from Gartner.
Posted: 2022-03-14
In 2022, the Chartered Insurance Institute will mark the 125th anniversary of local institutes coming together to form the federation that would evolve into the professional body of today. The CII has published a special edition of The Journal and a CII Radio podcast exploring the power of that collaboration in 1897.
Posted: 2022-03-11
Product recalls in Europe increased by 25.5% in 2021 to 9,415 recall events, as numbers returned to pre-pandemic levels. Pharmaceuticals saw the greatest rise in events - with France the source of most recalls. Electronics and medical devices followed. Clothing recalls were up marginally. Toy recalls - mostly of plastic dolls - fell.
Posted: 2022-03-11
An array of influential resilience experts will be speaking at the upcoming CIR Resilience Series event, taking place on Wednesday 25th May at the DoubleTree by Hilton London - Tower of London.
Posted: 2022-03-11
The winners of the 2022 National Insurance Awards were announced last night at a gala dinner and awards ceremony at the London Marriott Hotel, Grosvenor Square. Hosted by comedian Zoe Lyons, and attended by 350 people, the awards highlight the very best in general insurance provision and management.
Posted: 2022-03-10
The British Insurance Brokers’ Association has secured Mayor of Greater Manchester, Andy Burnham to deliver the keynote address at its 2022 Conference in May.
Posted: 2022-03-09
Sedgwick has acquired the business of UK Assistance247, a provider of home emergency repair fulfillment services in the UK.
Posted: 2022-03-09
Whilst the recent tightening of economic sanctions on Russia could trigger retaliatory cyber warfare and drive up claims, European and North American re/insurers are anticipated to be shielded from large volumes of claims due to exclusion clauses, reductions in limits, and product diversification, according to forecasts from DBRS Morningstar.
Posted: 2022-03-09
Insurance market Lloyd’s has appointed Sara Gomez as chief people officer with immediate effect. She joined Lloyd’s in July 2021 and was appointed interim chief HR officer and a member of Lloyd’s executive committee on 1st December 2021. As chief people officer, she will focus on developing Lloyd’s talent, leadership and inclusion strategy.
Posted: 2022-03-08
The transactional risk insurance market has surged amid record M&A activity, as private equity firms, corporations and strategic investors around the world increasingly turned to the cover 2021 to reduce deal risk. Transactional risk insurance limits placed globally by Marsh Specialty in 2021 totalled US$81.1bn – an increase of 73% over the previous year.
Posted: 2022-03-08
Allianz Engineering Inspection Services is launching a new returners programme for engineering inspection workers, to help surveyors return to work after time out.
Posted: 2022-03-08
TotalEnergies is being taken to court over claims that it greenwashes with misleading advertising to convince consumers it can become carbon neutral by 2050, despite continuing to promote and sell fossil fuels.
Posted: 2022-03-04
The Russia-Ukraine conflict, climate-related losses and legacy coronavirus issues weigh heavy on the outlook for reinsurers in 2022. Market volatility resulting from the ongoing conflict in Ukraine is already affecting equity market valuations, according to DBRS Morningstar.
Posted: 2022-03-04
Re/insurers holding large books of East European business are being urged to re-evaluate their exposures by stress testing portfolios against the threat of cyber attack.
Posted: 2022-03-04
Gallagher has launched a voice-operated risk assessment tool for business. RiskTalk helps businesses cut down on the time and expense of undertaking workplace safety assessments, and benefit from increased reporting reliability.
Posted: 2022-03-03
Rokstone, the specialty re/insurance MGA which is part of Aventum Group, announced a binder agreement with Slovenian insurer Zavarovalnica Triglav, to provide the MGA with an additional line of approximately £840,000 for Facultative Property worldwide. The deal was brokered by Howden RE, part of Howden Group.
Posted: 2022-03-03
Zurich Insurance has partnered with Celonis to accelerate the group’s digitalisation programme across customer onboarding, customer service, collection management, financial reporting and procurement efficiency.
Posted: 2022-03-03
Pool Re has completed placement of its retrocession programme with more than 50 international reinsurers. Providing £2.5bn of cover, increased from £2.475bn, the placement is led by Munich Re with Hannover Re and Fidelis providing significant capacity. The retrocession covers property damage arising from CBRN, cyber-triggered terrorist losses, and conventional terrorist acts.
Posted: 2022-03-02
Global firms are failing to prioritise environmental, social and governance risks, creating risky gaps in their evaluation and mitigation of the mounting hazards, according to research published today by Marsh.
Posted: 2022-03-02
Chelsea Football Club’s charitable arm has reported Roman Abramovich’s proposal to transfer the ‘stewardship and care’ of Chelsea FC to the Charity Commission – a proposal that raises a number of serious governance concerns.
Posted: 2022-03-02
Riskonnect has acquired Sword GRC, the UK-based software company that specialises in project and enterprise risk management solutions, from Sword Group.
Posted: 2022-03-01
Ongoing supply chain issues and operational disruptions are the main concerns across the global construction industry, according to a new report from Allianz. The insurer’s 2022 Risk Barometer ranks business interruption as the top threat for construction companies worldwide, with the consequences of a natural catastrophe event ranking a very close second, and fire and explosion third.
Posted: 2022-03-01
With unhealthy corporate culture regularly in the spotlight, new research seems to corroborate that boards are not taking culture seriously, despite the visible impact it can have on reputation, public trust and damage to long-term sustainability.
Posted: 2022-03-01
RiverStone International, an acquirer and reinsurer of legacy and discontinued insurance business, has announced that it has struck a deal with MS Amlin Underwriting Limited to undertake a split reinsurance-to-close transaction of its UK property and casualty portfolio for the 2019 and prior years of account of MS Amlin’s syndicate 2001.
Posted: 2022-02-25
Insured losses due to wind from Winter Storms Dudley/Ylenia and Eunice/Zeynep will range between EUR3bn and EUR5bn, with Germany, the UK and the Netherlands bearing the brunt. These estimates, calculated by Verisk Extreme Event Solutions (formerly AIR Worldwide), reflect wind damage to commercial, industrial, agricultural and residential properties, and vehicles.
Posted: 2022-02-25
Government plans to end all Covid restrictions from 1st April are short sighted, and take no account of the 30% of people who may develop PASC, or Long Covid, according to Covid-19 testing expert, Dr Quinton Fivelman.
Posted: 2022-02-24
Home Secretary Priti Patel convened and chaired a virtual meeting with her Five Eyes alliance counterparts yesterday to discuss developments in and around Ukraine. Ministers from the UK, US, Canada, Australia and New Zealand discussed ways in which they might work together to protect domestic resilience and homeland security, and coordinate their response.
Posted: 2022-02-24
The current situation on the Russia-Ukraine front and subsequent employment of sanctions will have far reaching effects, as a major decision has been the shuttering of the controversial Nord Stream 2 gas pipeline.
Posted: 2022-02-23
Economic Secretary to the Treasury John Glen this week set out plans to reform Solvency II, a move he said would unlock “tens of billions of pounds of investment by slashing red tape”. Speaking at the ABI's annual dinner this week, Glen promised the changes would “unlock growth and unleash investment in UK infrastructure”, adding that the plans would “further deliver the benefits of Brexit”.
Posted: 2022-02-23
Public sector bodies involved in digital transformation projects in the EU may soon find themselves having to answer some awkward questions about data protection law.
Posted: 2022-02-22
From 1st April 2022, the government is removing the current guidance on voluntary COVID-status certification in domestic settings and will no longer recommend that certain venues use the NHS COVID Pass. Health and safety requirements that compel employers to explicitly consider COVID-19 in their risk assessments will also be removed.
Posted: 2022-02-22
Kynd has launched a new feature that allows organisations to view their cyber risk history, allowing them to measure activity and spot patterns that might better prepare them in the future.
Posted: 2022-02-22
UK Government Cyber Essentials Partner, IASME, has selected Rizikon Assurance as the core platform to support a new maritime security certification.
Posted: 2022-02-21
After several days of disruption following Storms Dudley and Eunice, hundreds of people have been evacuated from homes as a further named storm brought flooding and gales back to the UK. The low-pressure system is expected to bring high winds today for much of the UK, although wind gusts from Storm Franklin are expected to be lower than Eunice, which triggered two Red Weather Warnings.
Posted: 2022-02-21
Towergate Insurance Brokers is urging businesses and homeowners to carry out fresh property valuations as soaring rebuilding costs mean that most properties are “substantially” underinsured. A recent study conducted by the broker suggests that more than 90% of commercial properties in the UK are incorrectly covered.
Posted: 2022-02-21
WTW has announced the availability of an affirmative cyber coverage product for cargo and stock throughput risks. The result of a collaboration with Falvey Cargo Underwriting, the solution is thought to be the first standalone cargo cyber solution of its kind.
Posted: 2022-02-18
Flights in and out of many of the UK’s airports have been grounded after Storm Eunice made its dramatic landfall in the early hours of Friday. Travel chaos on train and road networks, and power cuts have also been reported throughout the morning. London has been hit by gusts of up to 100mph - more than enough to rip off swathes of the London O2 Arena roof.
Posted: 2022-02-18
This week’s incidents on the Felicity Ace cargo/ro-ro ship and the Euroferry Olympia passenger ferry off the coast of Greece demonstrate the continuing risk of fire onboard vessels.
Posted: 2022-02-18
Insurer Hiscox has appointed Jon Dye as its new UK CEO, effective September 2022. In his new role, Dye will be responsible for leading Hiscox’s retail business in the UK. He has held a number of senior roles within the industry, most recently as CEO of Allianz UK for eight years – leading businesses with a collective nine million customers.
Posted: 2022-02-17
Despite a widely reported rise in cyber attacks, some businesses deprioritised cyber security at the height of last year’s supply chain disruptions resulting from the pandemic, port closures, HGV driver shortages and challenges associated with Brexit.
Posted: 2022-02-17
Geospatial data provider GeoX is partnering with Sompo Holdings, Sompo Japan and Sompo Risk Management to support the development of the insurer’s AI-powered underwriting methodology
Posted: 2022-02-17
WTW has today announced a new engagement with specialist SME insurance provider, Aurora. The collaboration will see WTW’s Radar Live and Aurora’s digital insurance platform deliver real time commercial quotations directly to SME businesses as well as through intermediaries via an omni-channel distribution mechanism.
Posted: 2022-02-16
The Environment Agency has today issued a warning for people living and working along the north coast of Cornwall, Devon and Somerset to prepare for flooding from a forecast tidal surge caused by Storm Eunice this week.
Posted: 2022-02-16
Critical event solutions provider Everbridge and broker Brown & Brown have teamed up to develop a new product that aims to enable property and casualty insureds to benefit from advanced alerting of events that may impact their insured properties.
Posted: 2022-02-16
Sompo International Holdings has moved its German operations from Dusseldorf to its new headquarters in Cologne.
Posted: 2022-02-15
Aviva is rolling out Storm Guidance’s Cyber3 assessment tool to help eligible insureds strengthen their resilience to cyber attacks, and at the same time increase its understanding of the risk across its books.
Posted: 2022-02-15
Verisk has entered into an agreement to make a strategic investment in German insurtech, Rocket Enterprise Solutions.Verisk’s investment will enable the property claims and underwriting technology provider to expand its offering across key European and Asia-Pacific markets.
Posted: 2022-02-14
Some 418 mergers and acquisitions completed worldwide in the insurance market throghout 2021, up from 407 the previous year. Driven by a particularly strong second half, which saw 221 deals, up from 197 in the first six months, the Americas remained the most active region, according to figures released today by law firm Clyde & Co.
Posted: 2022-02-14
Pressure to act ethically and sustainably is having a sizeable commercial impact on the retail industry’s supply chain, according to new figures, with more than £7.1bn of supplier contracts cancelled in the past year alone as retailers seek to improve their credentials.
Posted: 2022-02-11
Howden has announced the launch of a new Wildfire Excess Liability Lineslip for contractors and subcontractors operating in wildfire-prone areas in the US, such as California, Washington, Oregon and Arizona.
Posted: 2022-02-11
A new study has uncovered a considerable lack of confidence on the part of global executives in their own organisations’ approach to reputational and ESG ‘risk readiness’, with many reporting that only a moderate amount of assessment has gone into these areas, according to a report published by WTW.
Posted: 2022-02-11
Markel International has entered into an agreement with AEGIS to provide expanded reinsurance capacity for onshore renewable energy projects in North America.
Posted: 2022-02-10
The global threat of cyber attack is more common, more dangerous and more destructive than ever before, according to a report published today. Tokio Marine HCC International’s second annual Cyber Incidents Report shows that the vast majority of the incidents listed in this year’s top ten involved large institutions where cyber security plays an integral role in operations. But this hasn’t prevented their sophisticated defence systems from coming under attack.
Posted: 2022-02-10
The Institute of Risk Management has this week launched the Armed Forces Community Group. The AFC Group will bring together like-minded individuals working in risk management and who have specifically been involved with any aspect of the armed forces.
Posted: 2022-02-10
DeNexus has announced the latest release of its DeRISK Platform.
Posted: 2022-02-09
Whilst COVID-19 has contributed to a significant number of deaths, overall mortality is similar to the pre-pandemic level for the time of year, according to the Institute and Faculty of Actuaries’ Continuous Mortality Investigation data.
Posted: 2022-02-09
Insurance companies in the UK posted over 23,000 new jobs in 2021, a rise of 74% year-on-year and 31.7% higher than in 2019, according to figures published today. The data, compiled by analytics firm Vacancysoft, represents a record for vacancies in the industry as it recovers from the impacts of the pandemic.
Posted: 2022-02-09
ICEYE and Tokio Marine have reached an agreement to collaborate on a series of initiatives designed to facilitate the digital transformation of nat cat claims using satellite data.
Posted: 2022-02-08
Global technology company TIW Group is this week launching its new document sharing application, Spinnii.
Posted: 2022-02-07
E-scooters must face stricter safety rules and a licensing system similar to other motorised vehicles if they are legalised for use on the UK’s roads. This is according to a survey carried out by YouGov for Keoghs, one of the UK’s largest defendant law firms specialising in motor insurance.
Posted: 2022-02-07
Howden has announced the appointment of industry veteran Nicolas Aubert as CEO of its France division. After holding roles in various countries, notably in the UK market where he held major positions at AIG and Willis, Mr Aubert is returning to France to lead operations in this key market for the broker.
Posted: 2022-02-07
The Lloyd’s Market Association has announced a cross-market consensus on underwriters’ ‘at the box or in the office’ availability. Underwriters will generally be physically present for in-person trading with brokers on Tuesdays, Wednesdays and Thursdays – either in Lloyd’s Underwriting Room or in their offices.
Posted: 2022-02-04
A number of European oil transport and storage companies have fallen victim to a series of coordinated cyber attacks following this week’s breach at Oiltanking in Germany. It is understood that IT systems were disrupted at SEA Invest in Belgium and Evos in the Netherlands.
Posted: 2022-02-04
Beazley’s new global digital trading division, Beazley Digital, is up and running as of this morning.
Posted: 2022-02-04
Catalina Holdings has announced the appointment of Ian Parker as its new group chief executive. Mr Parker succeeds Bruce Hemphill, who stepped in as interim CEO from the role of non-executive chairman in February 2021.
Posted: 2022-02-03
CFC has appointed Dr Richard Ward as non-executive chairman, subject to regulatory approval.
Posted: 2022-02-03
One in four properties in the UK are at risk of flood, new analysis has this week revealed. The estimated annual cost to UK residential properties from flood is £527m, a figure that rises to £1.9bn without flood defences.
Posted: 2022-02-02
The team that launched Fortress Availability Services has rolled out its enterprise grade remote-working resilience solution, Reskube.
Posted: 2022-02-02
Global commercial insurance prices increased by 13% in Q4 2021, according to Marsh’s latest Global Insurance Market Index, continuing a trend of moderating rate increases that began in Q1 2021.
Posted: 2022-02-02
Increased volumes of tank containers used to trade chemicals and other liquids on the primary east-west trades have altered the risk profile of damage to such units, according to TT Club, which insures over 50% of the global tank container fleet.
Posted: 2022-02-01
TrueNorth Companies is rolling out CyberCube’s Broking Manager, the cyber risks analytics platform for insurance intermediaries.
Posted: 2022-02-01
Aviva has entered into a partnership with SimpliSafe to provide commercial insureds with a wireless security system.
Posted: 2022-01-31
Insurtech Stubben Edge Group has secured £10m in investment following a doubling of business since its first round in December 2020. The investment enables ambitious growth and selective M&A activity, with cornerstone investors including a number of Lloyd’s Names, Nigel Wray, Nick Leslau and institutional investors.
Posted: 2022-01-31
Allianz Holdings has achieved its 2023 goal of powering all its UK offices using renewable sources. In the UK, Allianz directly controls the energy supply at some properties and relies on landlords at others. These renewable sources include solar, hydro and thermal energy, as well as biomass and wind.
Posted: 2022-01-31
International SOS has rolled out a new risk management tool to provide personalised information and advice on how to plan travel amid COVID.
Posted: 2022-01-28
ARAG has created a bespoke commercial legal protection solution for DUAL Oliva.
Posted: 2022-01-28
AXA XL Risk Consulting has today announced the launch of a new risk assessment service designed to help companies identify and mitigate pollution and environmental risks. Available in Europe and the UK, the solution leverages ML and AI to turn environmental and climatological data into actionable risk insights.
Posted: 2022-01-27
The top challenge currently facing London Market companies is climate risk, a new International Underwriting Association survey has revealed.
Posted: 2022-01-27
A new McKinsey report has taken an holistic view of the global transition to net-zero by 2050 across all sectors of the economy, with the consultancy predicting that it would mean a fundamental transformation of power, industry, mobility, buildings, agriculture, forestry and other land use, and waste.
Posted: 2022-01-27
The House of Lords Industry and Regulators Committee will tomorrow open its inquiry into the regulation of the commercial insurance and reinsurance market. With initial evidence from LIIBA and the London Market Group, the committee will explore whether regulatory policy is suitably designed and proportionately applied.
Posted: 2022-01-24
In a recent book review for this magazine, we took a look at a guide to crisis management, which, I assured readers, would help them to sleep at night – safe in the knowledge that they would be prepared to weather any storm.
Posted: 2022-01-24
The CBI has welcomed the latest round of changes to international travel rules – a welcome step forward for the sector as it looks ahead “with hopeful eyes” for a return to normal this year
Posted: 2022-01-24
Consumer concerns over the spread of the Omicron strain impacted on retail sales during December as the buoyant early Christmas shopping figures of November fell by 3.7% the following month.
Posted: 2022-01-21
The FCA has warned European firms wishing to remain in the temporary permissions regime (TPR) that they need to meet the authority’s standards to continue operating in the country.
Posted: 2022-01-21
UK company bosses are approaching a tipping point on environmental, societal and governance (ESG) related activity, with an increased transparency and personal accountability on issues such as climate change and inequality, according to PwC’s 25th Annual CEO Survey.
Posted: 2022-01-21
The UK government has proposed wide-ranging new laws aimed at strengthening the country’s cyber resilience. The move comes after a rise in incidents targeting national infrastructure around the world. Among the measures outlined are improvements in the way organisations report cyber security incidents, and new laws to drive up security standards in outsourced IT services used by almost all UK businesses.
Posted: 2022-01-20
Marsh has announced a new collaboration with Risilience to support clients globally in understanding their climate change risks and meet their obligations under the Taskforce on Climate-related Financial Disclosures (TCFD).
Posted: 2022-01-20
The Institute of Directors has published a policy paper setting out some of the key environmental, social and governance (ESG) priorities for UK companies.
Posted: 2022-01-20
Congestion in ports is prompting a rise in reported cases of cargo theft from storage facilities according to new data. Freight insurance specialists TT Club and the supply chain services and solutions team at BSI have highlighted the increased risk of theft from storage facilities seen over the past few months in the US.
Posted: 2022-01-19
The London Market Group has welcomed the recent announcement that The House of Lords Industry and Regulators Committee is launching an inquiry into the regulation of the London insurance market.
Posted: 2022-01-19
The UK government has announced an end to all Plan B restrictions in England on 26 January. The measures, which were brought in to combat the spread of the Omicron variant of Covid-19, include compulsory wearing of facemasks on public transport and shops, guidance for employees to work from home, and vaccine certification for some public venues.
Posted: 2022-01-19
Small and medium sized firms have been urged to take extra steps to address the risk of scams targeting their companies. In a survey from UK finance, 80% of SMEs said they had received an unsolicited text or email request for money and personal information, and 64% had received unsolicited phone calls.
Posted: 2022-01-18
Cyber perils are the biggest concern for companies globally in 2022, according to the Allianz Risk Barometer. The threat of ransomware attacks, data breaches or major IT outages worries companies even more than business and supply chain disruption, natural disasters or the Covid-19 pandemic, all of which have had a huge impact on organisations during the past year.
Posted: 2022-01-18
Lloyd’s has published a new report to help insurers and risk managers navigate the significant overlap between geopolitical risks and climate change. Shifting powers: Climate cooperation, competition or chaos? is the second in Lloyd’s series of reports produced in partnership with the Cambridge Centre for Risk Studies, and uses potential but plausible scenarios to identify geopolitical risks associated with climate change.
Posted: 2022-01-18
The National Cyber Security Centre has added its support to new advice from international partners on countering Russian state-sponsored cyber threats targeting critical infrastructure.
Posted: 2022-01-17
A new research consortium backed by companies including Pool Re has been launched with the aim of protecting society from future systemic risks. The research from the Cambridge Centre for Risk Studies (CCRS) at the University of Cambridge Judge Business School will look to support the creation and extension of private-public market institutions and develop new risk transfer products and advisory services.
Posted: 2022-01-17
More than half (55%) of employees and leaders from companies around the world believe that standards of corporate integrity have stayed the same or worsened over the last 18 months, according to a survey by EY.
Posted: 2022-01-17
Allianz Insurance has reshuffled its commercial business to put a greater regional focus on its engineering propositions. It has combined responsibility for EC&P (engineering, construction and power) with its commercial broker market offering under four regional managers. The aim is to expand its regional presence, while making its services more accessible to local brokers.
Posted: 2022-01-14
Cyber security is now the main driving force for digital transformation globally, with mining and storage also among the list of priorities. This is according to Baker McKenzie’s latest Digital Transformation and Cloud Survey, which suggests shows that cost savings and greater efficiencies are being realised amid a new, pandemic-led 'business as usual'.
Posted: 2022-01-14
Anita Punwani CFIRM has been appointed chair of the Institute of Risk Management’s new ESG Special Interest Group.
Posted: 2022-01-14
WTW has merged its special contingency risks and terror and political violence teams to form a combined crisis management unit.
Posted: 2022-01-12
NHS Digital recorded a total of 393 lost or stolen devices in the year to September 2021, including 52 mobile phones, 19 laptops and 3 tablets. A further 319 laptops were recorded as lost due to having no record of their disposal. The Ministry of Justice revealed a total loss of 184 mobile phones, PCs, laptops and tablet devices in the same period compared with 161 during the prior 12 months.
Posted: 2022-01-12
The UK Health Security Agency has issued a warning to people travelling to China of the risk of avian flu.
Posted: 2022-01-12
Climate risks are the most dominant long-term global risk concerns, with societal divides, livelihood crises and mental health deterioration of most significance in the short-term, according to the World Economic Forum’s latest Global Risks Report. The annual report reflects a pessimistic outlook for the next three years, forecasting a volatile and uneven global economic recovery.
Posted: 2022-01-11
NFU Mutual has announced a partnership with Risk Solved whereby the software provider will support the insurer's loss control and health and safety services for its policyholders, agents and brokers.
Posted: 2022-01-11
Flood Re is planning to launch a new property data service with the help of Addresscloud, whereby the geo-coding specialist will build and manage a new Property Data Hub providing property-specific information to enable insurers to make rapid and accurate ceding decisions at risk level.
Posted: 2022-01-11
The Society of Insurance Broking has urged the market to step up to help clients cope with a challenging year ahead, as labour shortages, increased materials costs and regulatory risks abound. Society chair, Kevin Hancock, said the dominant theme will be ensuring that cover and the sums insured are under regular review.
Posted: 2022-01-10
Cyber analytics specialist CyberCube has designed three cyber-specific scenarios to be used as part of Lloyd’s of London’s annual Realistic Disaster Scenarios exercise.
Posted: 2022-01-10
As the ESG liability landscape continues to shift, requiring ever greater accuracy to manage greenwashing and reputational risk, we will need to build closer and more responsive insurance partnerships that focus as much on risk management and mitigation as on traditional risk transfer.
Posted: 2022-01-10
Brit has appointmed Bilge Mert as chief technology officer. Mert has 18 years’ experience in technology, joining from InsurTech iptiQ, Swiss Re’s start-up where she most recently held the position of senior director. She also has experience from outside of the insurance industry, with a career that has spanned FMCG, pharmaceuticals and consultancy. Prior to joining iptiQ in 2019, she previously worked at British American Tobacco, Mondelez and Accenture UK.
Posted: 2022-01-07
The Health Security Agency has confirmed that a case of avian influenza has been found in a person in the South West of England.
Posted: 2022-01-07
Specialty re/insurance group Chaucer has appointed Raj Nanra as CEO of SLE Holdings, known in the market as SLE Worldwide Australia.
Posted: 2022-01-07
Specialist insurer CFC has merged its healthcare and medical malpractice teams.
Posted: 2022-01-06
As he begins his presidency this week, the Chartered Insurance Institute’s Peter Blanc is calling on the profession to address the unmet needs of society and show the true value of advice. Blanc is group CEO of one of the UK’s largest – and most acquisitive – brokers, Aston Lark.
Posted: 2022-01-06
The UK government is testing a new online service for employers which provides advice and guidance on managing health and disability in the workplace.
Posted: 2022-01-06
Skuld has joined the Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping..
Posted: 2022-01-05
The CBI has called on the government provide clarity on the route map out of ‘Plan B’, after current restrictions are rolled back. "It’s welcome that government is taking extra steps to get tests to critical workers and easing PCR requirements, and it’s now vital that wider testing supply challenges are gripped,” said Matthew Fell, chief policy director of the business group.
Posted: 2022-01-05
Businesses that rely on warehousing space are currently under a huge amount of pressure. The pandemic-triggered boom in e-commerce sales is one of the issues. In 2021, Adobe forecast that global e-commerce sales would grow in 2021, reaching a staggering US$4.2trn. This boom has created an increased demand for warehouse space, as businesses have turned to e-commerce to match consumer habits. This situation has also been compounded by simultaneous worker shortages.
Posted: 2022-01-04
The global credit market outlook for 2022 embraces a variety of risk factors. By actively monitoring the most relevant macro market economic scenarios, one common theme is that the impact of inflation is a global reality. As the year came to a close, supply chain disruptions, higher energy prices and Omicron variant uncertainty contributed to the likelihood that the risk of high inflation will spill well into 2022. As a result, surprise rate hikes between the US UK and EU could occur in 2022 in response to worse than expected inflation trends.
Posted: 2022-01-04
The National Security and Investment Act requires businesses and investors to notify the government of acquisitions across 17 sensitive areas of the economy, including AI and civil nuclear.
Posted: 2022-01-04
Climate change has rarely been out of the news in 2021 – whether due to reports of devastating floods and wildfires, coverage of COP26, climate change protests in many countries, or discussions around the flood resilience of new housing projects.
Posted: 2021-12-23
2021 has been a record year for cyber security. We’ve surpassed 2020 in terms of the number of reported cyber events and with ransomware attacks seemingly making the headlines daily, there’s no sign of things slowing down. Constantly evolving in scale and sophistication, cyber criminals are set to persist into 2022 – with an extra bite.
Posted: 2021-12-23
Regulators have been far more open in recent months as to initiatives they have planned for the year ahead, and what they expect from the companies they regulate. In particular, 2022 will be a truly defining year in terms of the way in which the UK treats its regulation of appointed representatives.
Posted: 2021-12-22
We’ve all experienced a high degree of uncertainty since COVID-19 became a pandemic and Brexit became a reality. This has led to a period of ongoing change to ways of working and living – and this is set to continue well into 2022. However, being adaptable to customer needs and trading conditions will present many with significant opportunities.
Posted: 2021-12-22
Addressing the insurance protection gap in lower-income countries was a key theme during the COP26 talks, and the announcement of a number of government initiatives to help bridge the gap and tackle climate change risks will further highlight the key role parametric solutions have to play in financing a greener future.
Posted: 2021-12-22
A report has revealed that more than half of UK charities believe that they are likely to suffer a cyber attack but 27% admit that they do not have a plan in place in the event of a breach.
Posted: 2021-12-21
Businesses in the hospitality sector are warning that continued uncertainty over potential pandemic restrictions looks set to make December a trading disaster. With scientists warning that the rate of transmission of the Omicron strain of the Covid virus are very high, concerns remain over whether events over the New Year period will be able to proceed as planned.
Posted: 2021-12-21
A ransomware attack on one of the biggest workforce management software companies has left employers in a number of industries struggling to process staff pay at one of the most critical times of the year for many households.
Posted: 2021-12-21
The FCA has published two policy statements confirming final rules and guidance to promote better climate-related financial disclosures.
Posted: 2021-12-20
Around 20% of large organisations will use digital currencies for payments, stored value or collateral by 2024, according to a new report.
Posted: 2021-12-20
Almost half (42%) of senior business leaders have said they are worried they could be found personally liable for their business failing to deliver on environmental initiatives or by reporting climate related exposures, according to a study from QBE Insurance.
Posted: 2021-12-20
Fraud prevention group Cifas is urging businesses to regularly screen staff following statistics from the Internal Fraud Database revealing dishonest staff actions to be the greatest insider threat to organisations.
Posted: 2021-12-15
A coalition of leading food and farming businesses has warned that the UK faces a deepening food supply chain crisis unless the government takes urgent action to fix the structural issues facing the industry. The call came as the National Farmers’ Union (NFU) convened a summit of food organisations this week to address food supply issues.
Posted: 2021-12-15
A significant perception gap exists between businesses and consumers on the control of digital technologies, underlining the potential dangers that firms could face from tech complacency.
Posted: 2021-12-15
NatWest has been fined £264.8m following convictions for three offences of failing to comply with money laundering regulations. In a case brought by the FCA, the charges covered NatWest’s failure to properly monitor the activity of a commercial customer, Fowler Oldfield, a jewellery business based in Bradford, between 8 November 2012 and 23 June 2016.
Posted: 2021-12-14
With significant new customs arrangements set to be introduced on imports from the EU from 1 January 2022, 3 in 10 importers admit they are “not at all prepared” for the changes, according to a survey of nearly 600 business leaders by the Institute of Directors (IoD).
Posted: 2021-12-14
Businesses could be at greater risk of data security issues during the holiday season partly as a result of workers using company-owned devices for personal use.
Posted: 2021-12-14
Allianz Insurance has announced the addition of legal services to its Complete Directors’ & Officers’ product for policies incepting or renewing on or after 4th December.
Posted: 2021-12-13
A new paper from insurance group, ClimateWise, examines the ways in which insurance underwriting can support insureds in their climate transition plans, and enable the strategic, operational and underwriting practices conducive to their climate goals.
Posted: 2021-12-13
RMS is working with global specialty re/insurer Canopius to enhance its climate change risk analysis with the adoption of RMS Climate Change Models.
Posted: 2021-12-13
In May 2021, President Biden signed an executive order designed to tackle the nation’s cyber security issues head-on, including supply chain security, incident detection and resilience to threats. But arguably, the most important order of business is the call for federal agencies to adopt a zero trust approach.
Posted: 2021-12-13
Insurance risk and commercial law firm BLM is calling on the Irish Government to consider a review of the flood insurance market in the country to provide home owners the same level of protection offered in the UK.
Posted: 2021-12-10
Businesses in the technology sector have identified overcoming the talent crunch and supply chain upheaval as the two big priorities for the year ahead, according to a report by EY.
Posted: 2021-12-10
Pool Re has published advice for high street and hospitality businesses on managing the risk of terrorism in the run-up to Christmas.
Posted: 2021-12-10
The UK government has announced a move to Plan B in England, making face masks compulsory in most public indoor venues (other than hospitality) from tomorrow, and asking people that can to work from home, from Monday. The NHS Covid Pass will also become mandatory in large, crowded venues.
Posted: 2021-12-09
The fallout from COVID-19 has included widespread closures, business disruptions, a rollercoaster of restrictions and supply chain interruptions causing economic recession and a shift in global trade trends over the course of another tumultuous year for businesses.
Posted: 2021-12-09
A new study from the Nature Conservancy and Marsh McLennan oulines how nature and community-based approaches to wildfire risk can reduce losses and insurance premiums by at least 40%.
Posted: 2021-12-09
Willis Towers Watson has secured the insurance placement of the Hambros Perks Acquisition Company, the first listing of a SPAC on the London Stock Exchange.
Posted: 2021-12-08
Whilst many storm events are considered geographically seasonal, the global supply chain as a whole must take adequate steps to prepare for isolated severe weather events all year around. Typically wind strength is most ferocious in coastal areas. However, it is often the surge and flood risk that can cause greater problems, both on the coastline and further inland, according to data from TT Group.
Posted: 2021-12-08
In 2021, businesses experienced greater public scrutiny of their environmental, social and governance policies, with growing public concern over climate change, human rights abuses linked to business activities and the socio-economic impact of COVID-19 perpetuating associated risks. Corporate decision-makers will need to consider strengthening the integrity of their organisations by aligning their stated intentions and actions with the concerns of internal and external stakeholders.
Posted: 2021-12-07
MetLife UK has seen an increase of 250% in Long-COVID claims in Q3. An estimated 1.2 million people in the UK have reported suffering with Long-COVID in the past four weeks – up from 1.1 million in October, representing a jump of nearly 10%.
Posted: 2021-12-07
Allianz Engineering Inspection Services has said it will reduce plastic waste by around 1.8 tonnes per year, with an environmentally friendly method of tagging equipment.
Posted: 2021-12-07
The return of the company Christmas party after cancellations in 2020 calls for extra caution from employers, in the face of still high COVID-19 case numbers, and the recently discovered Omicron variant.
Posted: 2021-12-06
Zurich Insurance Group has joined some of the world’s largest companies in enhancing its support to people with disabilities, under The Valuable 500 disability inclusion initiative.
Posted: 2021-12-06
It was great to see how so many companies showed incredible adaptability during COVID-19. While initially, we thought a lot of the insurance market would be at a loss as to what to do next, instead they were able to show resilience relatively quickly and technology was the enabler of that.
Posted: 2021-12-03
Willis Towers Watson has this week launched a dedicated risk forum for the ports and terminals sector.
Posted: 2021-12-03
Sedgwick has acquired ABESIM BV, a Belgium-based engineering consultancy focused on soil contamination diagnostics and management.
Posted: 2021-12-03
A lack of standardisation for risk assessments is leaving the wind industry exposed to fire risk, according to a new report from Firetrace. It says there is a general reluctance among wind industry stakeholders to conduct fire risk assesments due to a number of factors, including an assumption that insurance will cover fire related cost; a lack of resource, owing to the continued impact of COVID-19; and a misunderstanding of the costs of repairing or replacing turbines damaged by fire. Finally, there is no legal requirement for operators to conduct such assessments.
Posted: 2021-12-02
It is at least a step in the right direction.
Posted: 2021-12-02
The 2022 Business Continuity Awards are open for entries. Back for their 24th year, the awards are free to enter and, with 25 categories to choose from this year, represent a number of opportunities for entrants to showcase their best people, products and projects. This year we have introduced three new categories...
Posted: 2021-12-01
In 2021 we saw a large increase in remote working and reduced face-to-face interactions. This naturally resulted in increased traffic into call centres. One surprising effect of this was the reduction in fraudulent calls to the agent due to increased waiting times. However, it seems that fraudsters are starting to return to normal working habits just like the rest of us. The last couple of months have shown a steady increase in fraudulent calls. Based on this observation and past experience, in 2022 we can expect fraudsters to return to targeting call centres at the high rates of the pre-pandemic years.
Posted: 2021-12-01
Specialist insurance provider, CFC, has today launched its new ransomware calculator, designed to help insureds understand the potential cost of a ransomware attack.
Posted: 2021-11-30
Allianz has expanded its renewable energy offering to cover for Short Term Operational Reserve technology, which allows energy providers to tap into extra power sources dependent on their specific commercial demands.
Posted: 2021-11-30
Castellan Solutions has announced the release of its new crisis management module, designed to help organisations to act quickly and confidently in the critical moments following the onset of a business disruption.
Posted: 2021-11-30
Supply chain risk management organisation, CHAS, is urging members of the built environment sector to sign up to the Building a Safer Future Charter, a UK-wide scheme that was launched in response to Dame Judith Hackitt's review of building regulations and fire safety.
Posted: 2021-11-29
Masks have once again been made mandatory in shops and on public transport, as the government responds to the arrival in the UK of a new COVID variant of concern, Omicron. In place from this week, the new measures will not apply to any hospitality setting.
Posted: 2021-11-29
A new bill introduced this week will allow the government to ban universal default passwords in connected devices, will force firms to be transparent to customers about what they are doing to fix security flaws in connectable products, and create a public reporting system for vulnerabilities.
Posted: 2021-11-26
Product recalls remain high in Europe as regulators enforce new legislation and examine and respond to ESG-related challenges.
Posted: 2021-11-26
A survey by the Chartered Body Alliance has found that 33% of the 1,637 respondents working in financial services considered themselves to have been 'vulnerable' in the past 12 months. It also highlighted that although 80% of organisations had policies around treating customers in vulnerable circumstances, only 42% had received structured training on this topic in the past six months.
Posted: 2021-11-25
Willis Towers Watson has partnered with CodeEast to develop a digital transformation solution for insurance companies and MGAs.
Posted: 2021-11-25
For years the beating heart of the global supply chain, Asia’s future hangs in the balance as pandemic-induced economic woes and political rivalry combine to alter the international trade landscape. This is the conclusion of a report published this week by trade credit insurer Atradius.
Posted: 2021-11-25
Marsh McLennan businesses Guy Carpenter and Marsh will combine their South African facultative reinsurance operations into a single business, as of 1st January 2022. The new unit will operate under the Guy Carpenter brand, supporting its aim to expand across the region.
Posted: 2021-11-24
US-based software developer, IncubEx, has announced the acquisition of EY-owned insurtech platform, Insurwave.
Posted: 2021-11-24
British Airways owner IAG, Easyjet, Ryanair and Wizz Air have all taken a hit on the markets this week as soaring COVID infections in Europe intensify. Rolls Royce was also dragged down on the news, given its exposure to the sector.
Posted: 2021-11-24
The Lloyd’s Disaster Risk Facility has launched the first retail parametric cyclone insurance product in Northern Australia. Led by Beazley with initial reinsurance support from AXA XL, Hiscox and RenaissanceRe, Redicova, is a parametric product that provides pay-outs in relation to windspeeds from a severe tropical cyclone.
Posted: 2021-11-23
Continued fallout from COVID-19, including further lockdowns or disruptions to day-to-day business operations, is considered by SMEs in the UK to be the most critical external risk they face. For this segment, managing this risk is even more of a priority than improving IT security or responding to economic pressures.
Posted: 2021-11-23
Pool Re CEO Julian Enoizi is to leave the business in the spring of 2022 following 8 years at the mutual. The terrorism reinsurer has undergone significant change under Enoizi’s leadership, most notably doubling the buffer between the UK taxpayer and terrorism loss from £5bn in 2013 to £12bn today. Cover has also been extended during this time to include cyber and NDBI.
Posted: 2021-11-22
New homes and buildings will from next year be required to install electric vehicle charge points, under new legislation announced today.
Posted: 2021-11-22
Bureau Veritas and BESSÉ have launched a combined cyber security and insurance solution for shipowners, to help manage the rising risks, and comply with IMO and IACS requirements.
Posted: 2021-11-19
Specialist insurance provider, Hotspot Cover has become the official insurance partner of the TRIP Group.
Posted: 2021-11-19
From May next year, US banks will be required to notify regulators within 36 hours of any significant cyber incident that could threaten national financial systems, under new rules announced by the US Federal Reserve.
Posted: 2021-11-19
The Guernsey International Insurance Association has signed up to the SME Climate Hub’s Climate Commitment. Signatories commit to taking action to halve their greenhouse gas emissions before 2030, achieve net-zero emissions before 2050 and disclose their progress on a yearly basis.
Posted: 2021-11-18
The global insurance industry is forecast to reach a new record in global premiums by mid-2022, exceeding US$7trn, supported by heightened risk awareness in wake of COVID19, as well as continued strong rate hardening in commercial lines.
Posted: 2021-11-18
Staff well-being, increased productivity, cheaper overheads and reduced carbon emissions are behind the continued home and hybrid working trend in the UK, according to offical ONS data. Some 18% of businesses said they intended to use homeworking permanently. Around 17% of people were hybrid working in late October, rising to a fifth in larger businesses. In early November, just half of businesses said their workforce had returned to their normal place of work.
Posted: 2021-11-18
Research published this week shows that nearly three out of four corporates and large companies are planning to strengthen cash reserves so they’re in better shape for future crises. The study was carried out for Investec among 100 UK senior executives at corporates with total cash deposits of more than £6.17bn and average reserves of around £62.3m.
Posted: 2021-11-17
Sompo International has expanded its partnership with Praedicat to include the risk analytics company’s emerging risk framework, its probabilistic liability catastrophe model and a new litigation tracking capability.
Posted: 2021-11-17
National law firm Weightmans has launched a data and analytics tool for the handling of large loss insurance claims. PREDiCT, which has been developed by the firm’s in-house data scientists, uses sample data from more than 1,000 individual claims, harvested over a 10-year period, to deliver optimum reserving for new claims.
Posted: 2021-11-17
Canopius Group has signed a deal with minority shareholder Samsung Fire and Marine Insurance to underwrite US business on its A++ rated paper. Initially, the ocean marine and management and professional lines teams of Canopius Underwriting Agency will write admitted business using SFMI’s paper. This complements Canopius USA’s existing ability to write non-admitted business through Canopius US Insurance, and Canopius Lloyd’s Syndicate 4444.
Posted: 2021-11-16
For decades, D&O insurance was seen as a relatively stable and popular class of cover, and discounting was common. But from 2018 onward, stress was obvious in D&O pricing and 2019-2020 became notorious for cost increases. The smaller markets of Latin America suffered just as badly as the US and Europe, while in Asia, markets such as China, which were growing, also began to see increased claims and price rises.
Posted: 2021-11-16
Following COP26, most responsible leaders will be thinking about what they need to do to make their organisations part of the response to the climate emergency and the resulting collective action to address environmental and social challenges.
Posted: 2021-11-16
Mitsui Sumitomo Insurance Group has selected Swiss Re Corporate Solutions’ PULSE platform to structure and manage its clients’ multinational insurance programmes. The PULSE platform will help MSIG streamline its technology landscape and overcome inefficiencies and data discrepancy challenges that come from managing multinational insurance programmes across multiple applications.
Posted: 2021-11-15
The COP26 UN Climate Summit concluded on Saturday with nearly 200 countries agreeing the Glasgow Climate Pact, following two weeks of negotiations. Participating countries agreed to revisit and strengthen their current emissions targets to 2030, known as Nationally Determined Contributions, in 2022. This will be combined with a yearly political roundtable to consider a global progress report, followed by a further summit in 2023.
Posted: 2021-11-15
Following yesterday’s incident in Liverpool, the Joint Terrorism Analysis Centre has today taken the decision to raise the UK National Threat Level from ‘substantial’, meaning an attack is likely, to ‘severe’, meaning an attack is highly likely.
Posted: 2021-11-15
Motor insurer Admiral is to use advanced driver assistance systems data in its pricing and underwriting. The data will come from LexisNexis Vehicle Build, a system developed by LexisNexis Risk Solutions to help insurance providers identify the specific standard and optional ADAS fitted to a particular vehicle.
Posted: 2021-11-12
Firetrace has launched XD Tubing, a fire detection product designed to mitigate the risk of fire and total loss in offshore and near shore wind turbines.
Posted: 2021-11-12
Satellite imagining and flood hazard data specialist ICEYE has signed an agreement with McKenzie Intelligence Services to support its delivery of property loss numbers to the Lloyd’s market via its MIS Global Events Observer platform.
Posted: 2021-11-11
The UK Supreme Court has handed down its decision in Lloyd v Google and blocked a multi-million-pound lawsuit brought by Richard Lloyd, a former director of consumer rights group Which?, against tech giant Google. The case related to search-engine data collected by Google and whether consumers had suffered damage and could claim compensation.
Posted: 2021-11-11
The British Insurance Brokers’ Association has welcomed publication of the latest levy requirements from the Financial Services Compensation Scheme, which will see its members no longer being asked to provide a significant contribution to the retail pool for the 2021/22 financial year.
Posted: 2021-11-11
Researchers led by the University of Manchester will work with the Natural Environment Research Council and other partners including the Data and Analytics Facility for National Infrastructure to create a digital hub to enable organisations to respond better to climate change and to improve public health.
Posted: 2021-11-10
Specialist re/insurance group Chaucer has teamed up with parametric insurance start-up Yokahu to launch a microinsurance product that provides cover for losses following hurricane events in the Caribbean. The policy pays out when pre-agreed wind speeds and atmospheric pressures are recorded.
Posted: 2021-11-10
GCube has today launched a new smart insurance offering. Supported by analytics company, CLIR, the new service leverages AI-led analytics and data sets to enhance terms and ultimately reduce premiums for wind and solar operating companies.
Posted: 2021-11-10
The lengthy and contracted approval process for wind farms is underpinning demand for insurance cover against the costs created by disputes over permits, although awareness of the available insurance is low, according to research of wind farm developers.
Posted: 2021-11-09
The newly launched Disaster Resilience Framework for Climate-Vulnerable Countries aims to pair public and private investment with insurance in a bid to improve disaster resilience in low- to middle-income countries that are most at risk from climate-exacerbated extreme weather events.
Posted: 2021-11-09
Posted: 2021-11-09
Andy Bord, chief executive officer of Flood Re, has called for new homes to be built in the right place and in the right way to prevent housing stock becoming less resilient to flooding in the years ahead. Speaking at COP26 in Glasgow, Bord said there also needed to be a continued long-term commitment to flood defences including the role of natural flood management.
Posted: 2021-11-08
Restoration service provider Rainbow International has developed a new workflow, which is supported by claims handling solutions from data analytics provider Verisk. The workflow will help track and deploy team members, enable customer-led damage assessments and use artificial intelligence to identify property damage.
Posted: 2021-11-08
The LMA has today issued guidance on the new FCA Pricing Practices rules and associated Product Reviews. The updated guidance includes a template, with notes and examples to facilitate the exchange of required information and is the result of a cross-market collaboration led by the LMA.
Posted: 2021-11-08
The winners of the 2021 Risk Management Awards were revealed at last night's gala dinner and ceremony. Hosted by The Chase's Paul Sinha and attended by 300 guests, the Awards took place at the London Marriott Hotel in Grosvenor Square. More...
Posted: 2021-11-05
International SOS has partnered with Salesforce and AOKpass to roll out a digitally integrated testing and vaccination solution that securely manages COVID-19 testing, vaccine administration, monitoring and health certification.
Posted: 2021-11-05
PCS has expanded its specialty loss lines reporting platform to include worldwide aviation industrywide insured loss events.
Posted: 2021-11-05
Insurance broker body LIIBA has welcomed the Chancellor’s net zero plans, announced at the COP26 summit this week, underlinining the vital role brokers have to play in decarbonisation efforts.
Posted: 2021-11-04
The London School of Economics and Political Science has become the first organisation in the UK to be verified by BSI against PAS 2060:2014 Specification for the demonstration of carbon neutrality.
Posted: 2021-11-04
Insurtech Concirrus has acquired analytics specialist Spark Insights to enable it to develop its AI, machine learning and data analytics capabilities and help insurers to make better risk selections, develop more efficient claims processes and boost product innovation.
Posted: 2021-11-03
Sustainability experts are urging policymakers, regulators and industry to expand risk sharing systems to tackle the climate emergency. If applied, it will enable a radical global transformation to protect lives and livelihoods, now and in the decades ahead, according to academics at the University of Cambridge Institute for Sustainability Leadership.
Posted: 2021-11-03
A coalition of over 50 humanitarian charities and the Insurance Development Forum have today announced the formation of a new partnership to support the development of a new global financial service for the humanitarian sector to help communities to get ahead of escalating climate risks.
Posted: 2021-11-03
As COP26 gets underway in Glasgow this week, a new partnership has been established to examine the impact of climate change on terrorism. Pool Re Solutions, START and IFTRIP will together examine both the current and contemporary threats and global regional outlooks.
Posted: 2021-11-02
A significant disconnect between risk perception and insurance cover has been highlighted by Willis Towers Watson it its latest survey of the luxury brand sector.
Posted: 2021-11-02
Guidewire has today unveiled Guidewire Live, a suite of analytics apps to equip insurers with real-time insights embedded in core systems across the insurance lifecycle.
Posted: 2021-11-02
QBE’s Risk Solutions practice has devised an ESG framework and template sustainability policy to help SMEs identify, monitor and manage ESG issues that may affect their business. QBE said the new tool is to help smaller companies that are worried about growing ESG exposures but have limited resources to commit to the issue.
Posted: 2021-11-01
The insurance industry is grappling with a variety of changes brought about by the pandemic, and faltering economic growth could provide yet another challenge. To help define the issues and support insurers with their planning for the months ahead, Global Insurance Law Connect and Capital Economics have published a joint report analysing the impacts of the global energy crisis, climate change vulnerabilities, supply chain bottlenecks and high inflation – which together are hampering economic bounce back.
Posted: 2021-11-01
A confluence of challenges, including sustained supply chain issues, extreme weather, large-scale cyber attacks, the global energy crisis and ongoing issues relating to the COVID-19 pandemic have exposed vul-nerabilities in the UK’s resilience arrangements that could be addressed through increased coordination between business and government.
Posted: 2021-11-01
TP ICAP Group and Speedwell are launching the Climate Index that will use global weather data to track climate change, allowing financial risk related to the rate of climate change to be traded.
Posted: 2021-10-29
Dual North America has launched a standalone political violence and terrorism programme that will offer coverage for property damage, liability and business interruption with limits up to US$150m.
Posted: 2021-10-29
BIBA CEO Steve White welcomed Rishi Sunak’s decision to leave the rate of Insurance Premium Tax untouched in his Autumn Budget this week – saying it would be a comfort to insurance customers already facing premium increases.
Posted: 2021-10-28
Global commercial insurance pricing increased by 15% in Q3, according to Marsh’s latest Global Insurance Market Index. This is the sixteenth consecutive quarter of rises, although the broker said the rate if increases continued to slow.
Posted: 2021-10-27
Global catastrophes are expected to cause about £77bn in insured losses on an annual average basis, according to calculation from AIR Worldwide. The firm estimates that the five percent aggregate exceedance probability insured loss is approximately £148bn, and the one percent aggregate exceedance probability insured loss is about £233bn.
Posted: 2021-10-27
Global risk advisory, Inherent Risks, has today announced its official launch. The risk advisory, medical assistance and crisis management firm brings together a team of insurance, claims and medical assistance experts
Posted: 2021-10-26
Apex Group has been appointed by BMS to deliver carbon footprint assessment and reporting services.
Posted: 2021-10-25
Marsh has today announced the launch of a new directors’ and officers’ liability insurance initiative that will recognise US-based clients with superior ESG frameworks. Participating carriers include American International Group, Berkshire Hathaway Specialty Insurance, Sompo International and Zurich North America.
Posted: 2021-10-25
Origami Risk has announced the availability of its new online global vendor risk management solution. The single platform for managing insured and uninsured risks offers risk intelligence and industry best practice resources to help risk professionals obtain detailed vendor solvency and cyber security governance information and conduct extensive risk assessments.
Posted: 2021-10-25
Concerns about supply shortages in the next quarter escalated further this month, according to the CBI’s latest Industrial Trends Survey. Almost two-thirds of firms cited availability of materials and components as a factor likely to limit output next quarter – the highest share since January 1975, according to the group.
Posted: 2021-10-22
Recognising that some companies may not have the resources to implement a complete system in one go, ISO 50005, Energy management systems – Guidelines for a phased implementation, provides guidance for a step-by-step process, helping organisations to more easily allocate the appropriate resources and priority levels based on their needs and capacities.
Posted: 2021-10-22
With just ten days until the COP26 UN Climate Summit kicks off in Glasgow, the two bodies are urging audit committees and directors to make better use of their internal audit functions in identifying, managing and mitigating the risks and opportunities associated with climate change.
Posted: 2021-10-22
Tokio Marine Kiln has joined forces with CarbonChain to measure greenhouse gas emissions as part of the underwriting process. The two companies began exploring the partnership in the summer of 2021 as part of a project within the Lloyd’s Lab. The first phase of the project looked at a portfolio of approximately 2,000 companies.
Posted: 2021-10-21
CFC has today announced a major investment from European private equity firms, EQT and Vitruvian Partners.
Posted: 2021-10-21
BMS has announced its acquisition of Seoul-based insurance broker, Value-add Insurance Broker. As part of the acquisition, VIB will become a newly-licensed entity called BMS Korea, operating under the wider BMS Asia team, and will provide specialist M&A insurance solutions to the Korean market.
Posted: 2021-10-21
Castel has today launched a new underwriting cell for US clients. North American Professional Liability is now writing both primary and excess layer coverage for larger risk managed clients including law firms, accountants, architects and engineers.
Posted: 2021-10-20
Offering a range of customised reinsurance broking, advisory and analytical services for carriers and MGAs, the InsurTech COE will provide market entry analysis, portfolio construction, actuarial support, rating advisory and capital modelling. Guy Carpenter’s own Max Aronchick will lead the team.
Posted: 2021-10-20
Risk and reinsurance specialist Guy Carpenter has launched a wildfire risk score to help European businesses manage their exposures to this increasing peril. The score offers clients an assessment of their existing risk and can then be modelled to predict future changes given different climate scenarios.
Posted: 2021-10-19
Some large businesses will need to set out their green credentials to potential investors under new reporting rules outlined by government today. The new Sustainability Disclosure Requirements will compel pension schemes, investment products and asset managers and owners to disclose their environmental impact.
Posted: 2021-10-19
Digital transformation and technology rank as the biggest concern for global banks and insurers in the 2021 operational risk scenarios report published risk association, ORX.
Posted: 2021-10-18
Specialist insurer, Beazley has received in principle approval from Lloyd’s to establish Syndicate 4321 from 1st January 2022. Led by Will Roscoe, head of the market facilities division, the syndicate will offer capacity to businesses that perform well against ESG metrics.
Posted: 2021-10-18
Canopius Group has appointed Kate Roy as chief operating officer.
Posted: 2021-10-15
The Chartered Insurance Institute has today launched its member consultation on the professional body’s future strategy.
Posted: 2021-10-15
Fully vaccinated passengers and most under 18s arriving in England from countries not on the red list will, from 24th October, be able to show lateral flow test results instead of a PCR test, on or before day two of their arrival into the UK.
Posted: 2021-10-15
The British Insurance Brokers’ Association, the Association of British Insurers and Flood Re have opened registration for the new Flood Insurance Directory. The organisations are calling for intermediaries and insurers who can provide cover for residential buildings and/or contents insurance for consumers who are struggling to obtain flood insurance to register to be part of the service ahead of its launch.
Posted: 2021-10-14
Cybereason is partnering with Aon to offer a combined cyber threat mitigation and incident response service.
Posted: 2021-10-14
Malware attacks that encrypt company data and systems and demand a ransom payment for release continue to surge globally. The increasing frequency and severity of ransomware incidents is driven by several factors: the growing number of different attack patterns such as ‘double’ and ‘triple’ extortion campaigns; a criminal business model around ‘ransomware as a service’ and cryptocurrencies; the recent skyrocketing of ransom demands; and the rise of supply chain attacks.
Posted: 2021-10-14
Broker Howden has acquired Oslo-based intermediary Aneco Forsikringsmegling, increasing its presence as a non-marine broker in Norway. Aneco manages around £25m in premiums and focuses on property and casualty and employee benefits business.
Posted: 2021-10-13
Howden has reached an agreement to acquire Aston Lark, marking the broker's largest acquisition to date, and creating a UK business managing over £6bn of GWP for more than 1.7 million policyholders.
Posted: 2021-10-13
The global supply chain has several vulnerable spots and is currently creaking under the pressure of high demand. Continued container shortages, port delays, congestion, increased freight costs, logistics equipment in the wrong place, and a lack of haulage options has ultimately resulted in delays being widely reported.
Posted: 2021-10-13
A former CEO of Tesco has been appointed as the government’s supply chain adviser. David Lewis will also co-chair a new Supply Chain Advisory Group, consisting of external experts in the field, and a new Industry Taskforce, to ensure those on the ground have the opportunity to voice their concerns and advise on the most efficient resolutions.
Posted: 2021-10-12
Cyber exposures accumulating in the US property insurance market could lead to US$12.5bn in non-physical damage losses, as well as a deterioration in capital adequacy ratios for up to 18 carriers, according to analysis published today.
Posted: 2021-10-12
Howden has acquired Belgian insurance broker, Sarton & Associés, representing an investment in property, casualty and employee benefits for large corporates, mid-sized businesses and SMEs in Belgium and Luxembourg.
Posted: 2021-10-11
Besso Insurance Services has formed a new property and speciality team, with the appointments of Matthew Sinclair and David Pratt-Sinclair, who join as director and executive producer, respectively. Based in London, Gemma Barnes and Joe Marston also join the team as senior broker and broker.
Posted: 2021-10-11
Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.

Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.