Business interruption
Firms underestimate cyber risk, according to Allianz survey
Economic risks, business interruption and destructive natural catastrophes are among the biggest risks to companies in 2012, according to a study conducted by Alianz Global Corporate & Specialty.
Survey finds concerns with supply chain insurance
Commercial insurance buyers generally want better insurance products to cover their supply chain risks, a survey by the Federation of European Risk Management Associations has found.
Scor expects €140m in Thai flood losses
French reinsurer Scor estimates its losses from the floods in Thailand at €140m net of retrocession and before tax.
Direct Line in Germany implements new business continuity infrastructure
German insurer, Direct Line Versicherung AG, has implemented Datacore's business continuity and disaster recovery architecture.
Zurich calls on government for clearer winter advice
It is not just the responsibility of businesses to prepare ahead of extreme weather, but a “necessity” of government to support businesses, communicate clearly and provide advice, according to Zurich.
Editor's comment: Impacting the market
Market-turning they may not be but market-impacting they evidently are. Revised loss estimates for the 1500 industrial units hit by the Thai floods have reached $20bn.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
Claims club: Industry warned over 'slow and amateurish' police riot response
The insurance industry has been told to brace itself for “slow and amateurish” responses from police authorities to riot-related claim submissions.
6 December: Driving into trouble
Following an accident involving a lorry driving through the window of a bric-a-brac shop, Mr Policyholder got in touch with his insurer, who then passed on the enquiry to their loss adjusters.
Helping retailers to have a merry Christmas
Given the precarious state of the European economy and the threat of a double dip recession a real possibility, retailers across Europe need a good Christmas shopping season more than ever this year.
Post Intelligence Benchmarking - Loss adjuster insight: Hitting the bullseye?
Insurance 360 takes another look at the performance of loss adjusting firms to reveal who is performing well and who needs to raise their game.
AM Best warns of Thai floods hitting BI
AM Best has warned that Thailand’s ongoing flood disaster will trigger significant commercial and business interruption losses to manufacturing and supply chains in global markets.
The Cypriot fall out from Vassiliko
In July Cyprus saw its largest insurance loss caused by man and despite doubts as to its quality the insurance industry stood tall according to Konstantinos Dekatris.
Law report: Environcom appeal rejected over disclosure dispute
This law report has been contributed by national law firm Berrymans Lace Mawer.
Insurance Insight weekly update live - 28 October
Insurance Insight's weekly update is live with an article on Pan-European and Global business interruption cover; and a View from the Top on how insurers must be as global as the firms they work with.
Pan-European and global business interruption cover
As businesses become increasingly global Roger Potts explains that brokers must make sure their knowledge of their clients is detailed enough to ensure the correct business interruption cover is in place should the worst happen.
Japan - Post-earthquake: Aftershocks of the earthquake
New insurance legislation in Japan is set to be extensively tested six months after the devastating earthquake and tsunami that hit the country.
From the archives - 9/11 Terrorism: Ten years later...
A decade has passed since the attacks on the World Trade Center in New York. How has the market for terrorism policies responded and recovered in that time?
Business interruption - recessionary impact: Predicting the unpredictable
An uncertain economic climate is making the quantification of business interruption claims even more problematic. Tony Levitt explains.
Sterling: policy excesses to be reclaimed from police
Sterling Insurance has said it will not deduct policy excesses from riot claims and will reclaim the full costs from the police on behalf of policyholders.
Riot Act: pressure mounts for repeal as police cost burden deepens
Prime Minister David Cameron’s announcement that those suffering losses as a result of the recent outbreaks of violence, destruction and looting across England will have 42 days — rather than the 14 prescribed by statute — to claim compensation from the…
Riot update - Legal implications: Rioters without a cause?
The dust may now be settling on the riots across England, but the debate about legal implications for the insurance market will continue to rage on. Ros Jones and Alex Booth assess the main coverage issues from the perspective of insurers, reinsurers and…
Bournemouth's streets cracked by floods
More than 60mm of rain fell in Bournemouth between 6am and midday on Thursday last week, and the average rainfall for the whole of August is less than 54mm, according to GAB Robins.
Cutting down on carbon – mitigating the effects of climate change.
Climate has a profound impact on property-related assets and as scientific evidence of a change in climate becomes more compelling Dr Cliff Warman asks how prepared the European insurance industry is now and for the future.