Saturday, 10 December 2016

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Laukkala named European Risk Manager of the Year at launch event with Ferma in Brussels

Heljo Laukkala, vice-president, corporate risk management at Metso Corporation, the Finland-based international industrial services company, was named European Risk Manager of the Year at the first European Risk Management Awards dinner in Brussels last night.

Kelly hails Liberty's $3bn Ironshore acquisition as "win win"

Liberty Mutual has agreed to buy Bermuda-based excess and surplus lines insurer Ironshore from Chinese conglomerate Fosun International for about $3bn.

Aon considers sale of $5bn employee benefits business

Aon is weighing up options for the sale of its $5bn employee benefits unit as the firm looks to refocus efforts on insurance and risk management services, according to news agency Reuters.

Buyers must be more demanding about service levels, say insurers

Insurers recognise that they need to improve service but risk and insurance managers must also demand greater service from their transfer partners before signing on the dotted line, according to an industry panel at this week's Commercial Risk Europe Risk Frontiers event in Brussels. The insurers advocated the use of a TripAdvisor style rating system of their performance or a checklist of questions that customers should ask before placing cover.

Buyers favour XL Catlin and Lockton

RIMS members have named XL Catlin and Lockton as their top performing insurer and broker in 2016.

Growing nationalism raises risk of $1tn economic shocks

The risk of a $1tn plus shock to the global economy is increasing from a growing risk of major conflicts and cyber attacks, according to research from the Cambridge Centre for Risk Studies (CCRS).

Italy earthquake losses low at €31m

Insured property losses from the series of earthquakes that struck central Italy in late October are estimated to cost €31m, according to initial estimates from PERILS AG.

ClimateWise urges risk and insurance industry to alter climate change response

The gap in funding climate risks and the cost of climate change events has widened to $100bn annually, according to two new industry reports from ClimateWise, a network of 29 global insurance organisations.

Corporate roundup

AXA to underwrite energy and chemical risks, Health cover offered to ship crew under new partnership, Markel International boosts political risk team, UK P&I Club appoints Devereese as loss prevention advisor, Verisk partners with Driveway to cut motor risk and Chubb creates new digital SME role.

Flood cover launched for UK SMEs

A new flood insurance scheme has been launched for SMES excluded from the UK government's Flood Re scheme that came into force in April this year for homeowners.

New technology partners with insurance to deliver risk solutions

The final 10 start-up companies promising new technology to improve risk management and insurance have been selected for the Startupbootcamp 2017 programme.

Trade outlook deteriorates in new political climate

Uncertainty created by the UK's vote to leave the European Union and protectionist measures expected under Donald Trump's US Presidency are adding pressure to trade growth, according to specialist insurer Atradius.

Private firms could fall under UK Corporate Governance Code as consultation launched

The UK government is seeking views on how to improve corporate governance and is considering extending its current standards and regime for public firms to large privately owned companies. It also want to tackle excessive executive pay and strengthen the connection between boards and their employees.

P&I clubs urged to reduce insurance costs for ship owners

Ahead of the annual P&I renewal in February, brokers are calling on protection and indemnity (P&I) clubs to support the struggling shipping industry by reducing the cost of insurance.

UK risk and insurance managers’ pay falls, finds Airmic survey

The average pay of UK risk and insurance managers has fallen over the last two years across nearly all age groups, according to Airmic's latest member survey.

Extortion attacks top cybercrime claims

Risk managers are warned that extortion has become the biggest cyber threat.