Companies face “a critical impact” if they fail to address cyber and climate risks, the CEO of Allianz Global Corporate and Specialty has warned.
Pool Re has expanded its definition of SMEs to include firms with assets up to £5m, increasing the number eligible for its business interruption cover at no extra cost.
The idea of a Flood Re Plus scheme has been mooted by Airmic as a solution for those businesses that struggled to obtain flood cover
Mark Harris has joined loss assessor Harris Balcombe as head of cyber risks, Post can reveal.
Graham Smart has replaced Luke Exford as president of the Chartered Institute of Loss Adjusters. He spoke to Hiriyti Bairu about how loss adjusting has evolved over the years and the challenges facing the sector.
Although cyber takes the headlines, machinery breakdown can be equally damaging to businesses, according to Owen Lewis, group manager for account engineering at FM Global's London operations, with a recent analysis of the company's client losses…
With almost 3000 dams supplying drinking water to towns and cities they are a common feature in the UK countryside. However, when heavy rain in August threatened the integrity of the emergency spillway at Toddbrook Reservoir an emergency evacuation of…
The size and complexity of cyber perils are constantly increasing and pose a major challenge to insurers and insureds alike as they attempt to assess potential cyber losses.
Insurance firms could face further disruption, after Extinction Rebellion activists shut down roads around the City of London yesterday in a bid to raise awareness of climate “inaction”.
Developments in geopolitics, climate and technology are increasingly putting supply chains under strain, the Association of Insurance and Risk Managers in Commerce has warned.
Gross premiums written in London by the company market increased 6.7% in 2018, reaching £19.56bn, according to the International Underwriting Association.
Today’s terror attacks come in many forms – from homemade bombs to suicide bombers, knife and acid attacks to vehicles ramming pedestrians. Chris Parker, head of Beazley’s terrorism, political violence and kidnap & ransom underwriting team argues all are…
A rise in the volume of UK businesses that have cancelled at least one type of insurance cover over the past few years has served to highlight the importance of the broker’s role in the insurance buying process
Non-damage business interruption terrorism insurance became available through Pool Re recently. And while Aston Lark's CEO Peter Blanc believes this is good he argues that once again the insurance profession has managed to make the whole topic pretty…
This month’s dam breach at Whaley Bridge brought a small community to a standstill, with many businesses unable to trade for a full week due to the enforced evacuation of the town and its surroundings writes Sarah Baker, head of business interruption, UK…
Brokers have warned policies may include exclusions for strikes, riots and civil commotion, as insurer risk appetites in the region wane amid continued protests in Hong Kong.
It might be the name, but this week I’ve spotted some similarities between Gibraltarian unrated insurer-facing-liquidation Lamp Insurance and an angler fish, sparking some strange and slippery debate in the office.
Terrorism has been a constant threat in the UK for more than half a century and has proved hard for security forces to keep up with, so it is hardly surprising that the insurance market too has found itself trying to repair gaps in cover as they emerge
More than one in five employees say their employers are stockpiling as a contingency against Brexit-related disruption, with these businesses at risk of being underinsured unless they ensure their cover is brought into line with the value of their…
Company directors could face legal action if they fail to prepare adequately for a no-deal Brexit, with limitations to directors and officers cover meaning they could find themselves personally liable.
Smashing targets for Shelter, resourcing research and taming the tides
A changing risk landscape is creating new challenges for SMEs and those tasked with providing the sector with insurance. But SMEs need to evolve as newer risks such as cyber attacks and data protection – along with the raft of uncertainties around Brexit…
With the nature of cyber attacks constantly changing Madeleine Shanks, associate partner at Clyde & Co, explains that dialogue between customers and their insurers has never been more important to ensure that cover is proportionate.
Mactavish has warned that the majority of specialist cyber insurance policies contain significant flaws that could precipitate disputed claims and lower-than-expected settlements.