As the world grapples with the worst economic downturn in decades and the possibility of a flu pandemic, a growing body of research suggests the complexity of the modern global economy may make us more vulnerable than ever to catastrophe. …
According to a report from Willis Group Holdings, “over the last three months, London market insurers reported an average premium reduction of eight percent on renewal business for the commercial sector’s Directors & Officers’ (D&O) liability.” In addition Willis said …
Standard & Poor’s Ratings Services has issued a new report, – “Europe’s Insurers Feel The Strain, But The Sector Retains Its Strength” – which indicates that for many insurers, market conditions over the past 18 months have “eroded the headroom …
Last Thursday, April 23, the Willis Research Network (WRN), which is supported by Munich Re, Risk Management Solutions and Swiss Re, held a conference at the General Assembly of European Geosciences Union (EGU) in Vienna. The meeting “marks a major …
Risk Management Solutions announced that Munich Re and Tokio Marine Nisshin Fire have closed a private catastrophe swap based on its industry loss index, Paradex-Europe Windstorm. “This transaction now brings the total notional amount of risk transferred using Paradex-Europe Windstorm …
Marsh has appointed Flavio Piccolomini as CEO of Marsh Italy and Emanuele Cordero di Vonzo as General Manager. Piccolomini joins Marsh after 18 years with Willis, where, after holding a number of different positions, he was CEO for Continental Europe. …
The Bermuda-based Max Capital Group announced the appointment of two senior underwriters – Clive Hatto and Hugh Sprowson – by Max at Lloyd’s Ltd, the Lloyd’s managing agent for Syndicates 1400, 2525 and 2526. Chairman and CEO W. Marston (Marty) …
The Federation of European Risk Management Associations (FERMA) has issued a bulletin welcoming the vote of the European Parliament approving the Solvency II Directive, the new supervisory regime for EU insurance companies [See IJ web site – https://www.insurancejournal.com/news/international/2009/04/23/99857.htm]. FERMA said …
European Union foreign ministers agreed on Monday to launch talks on a trade pact with Canada worth over $27 billion per year, EU diplomats said. “The ministers gave the green light,” one diplomat told Reuters. The agreement was subsequently confirmed …
The governors and senators of North Dakota and Minnesota plan a meeting in Washington to promote permanent flood protection in the Red River basin. North Dakota Gov. John Hoeven and Sen. Byron Dorgan, D-N.D., said in a joint statement that …
