News in brief: week to 5th April 2013

SunGard Availability Services has published a report suggesting that steady and sustained growth over recent years in managed services adoption has led to an improvement in the UK’s business availability practices. Their believe organisations have made a shift in their approach to business continuity, building resilience into the business through investment in cloud and virtualisation technologies, as well as managed recovery programmes.

Insurers are bracing themselves for a flurry of last-chance professional negligence claims relating to the build-up to the financial crisis, according to law firm Reynolds Porter Chamberlain. RPC explains that normally claims for professional negligence have to be made within six years of the alleged negligence taking place. The window for the majority of claims relating to activity in 2007 (just ahead of the credit crunch) therefore closes this year.

According to a survey among its data recovery customers, recovery provider Kroll Ontrack says that while 60% of respondents had a backup solution in place at the time of data loss, the backup was not current or operating properly. These findings provide key insight into the importance of diligently monitoring and verifying that a backup is successfully operating and capturing a current, accurate snapshot.

EIOPA has released four consultation papers providing the detail of its proposed interim measures guidelines, which it proposes should be adopted by national supervisors from 1 January 2014. The consultation papers cover governance, a forward-looking assessment by insurers of their own risks (based on the ORSA principles), internal model pre-application process and submission of information to national competent authorities.

Jim Bichard has taken on the role of London Market Insurance leader at PwC. Bichard is a partner with 16 years’ experience at the firm including five years in their New York practice.

Arthur J Gallagher International has announced that Janice Deakin has been appointed UK commercial director, a new strategic role that spans its UK distribution, underwriting and affinity businesses. She will report directly to CEO David Ross and become a member of the AJGI executive committee.

Gallagher Heath has recruited Alan Sanderson and Peter Cooper to drive forward its expansion plans within UK schemes and affinities, having set its sights on doubling the division’s revenues to $100m by 2015.

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