Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
UPDATE: Driver under Investigation after Spain Train Crash Kills 80
Jul 26 2013 // The driver of a Spanish train that derailed, killing at least 80 people, was under police guard in hospital on Thursday after the dramatic accident which an official source said was caused by excessive speed. The...
PERILS Issues Maximum Flood Footprint Map for Central Europe
Jul 25 2013 // PERILS AG, the independent Zurich-based company providing industry-wide catastrophe insurance data, has released its final Maximum Flood Extent Map for the floods which affected Central Europe in June 2013. The bulletin...
Political Risk Insurance: Certainty for CEOs in Uncertain World
Jul 22 2013 // Except for Egypt, political risk insurance has been growing Tourism, manufacturing and resources companies surveying an unpredictable world are increasingly having to consider insurance against political risks, and the...
Europe Insurer Trade Group Criticizes Listing Companies as G-SII’s
Jul 19 2013 // Europe’s insurers criticized the approach taken by international regulators which named firms considered systemically important as they try to reduce financial risks from the sector. Two global financial watchdogs...
Ratings Roundup: ACE Seguros, SOVAG, Polish Re, CCR (Algeria)
Jul 19 2013 // A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating of “a” to ACE Seguros S.A., which is based in Panama. Its ultimate parent is ACE Limited, now...
India Grants 3 Month Extension to Iranian Underwriters for Non-Oil Shipments
Jul 18 2013 // India has extended a temporary approval to Iranian underwriters Kish P&I Club and Moallem Insurance Co for covering container and tanker vessels calling at Indian ports, in a move that should clear a backlog of...
FERMA Urges EC to Respect ‘Freedom of Choice’ for Cat Coverage
Jul 18 2013 // The Federation of European Risk Management Associations (FERMA) announced that it has told the European Commission that “any new insurance solutions for catastrophe risks should be market based and respect freedom of...
Best Places Torus Insurance and Subs Ratings under Review/Negative
Jul 12 2013 // A.M. Best Europe – Rating Services Limited has placed under review with negative implications the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of...
Best Europe Affirms ‘A+’ Ratings of Allianz SE and Subsidiaries
Jul 11 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Germany’s Allianz Societas Europaea...
Europe’s Floods Top Aon Benfield’s List of June’s Catastrophes
Jul 11 2013 // The latest report from Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, which reviews the natural disasters that occurred worldwide during June 2013, highlights the $22 billion in...
‘Commercial Ties,’ ‘Economic Growth’ Top EU/U.S. Trade Talk Agenda
Jul 11 2013 // Marjorie Chorlins, the U.S. Chamber of Commerce Senior Director for Europe, issued a statement itemizing the Chamber’s views on the opening round of negotiations between the U.S. and Europe for the Transatlantic...
As Political Risks Proliferate, Insurers Increase Coverage Options
Jul 10 2013 // Could it happen to us? Tourism, manufacturing and resources companies surveying an unpredictable world are increasingly having to consider insurance against political risks, and the insurance industry is gearing up to...
Lloyd’s Says High Taxes, Regulation Burden European Firms
Jul 10 2013 // High taxation and new regulations are among the most pressing concerns for senior European company executives, according to a survey by Lloyd’s of London. The Lloyd’s Risk Index survey also found executives...
U.S. EU Launch Free Trade Talks Despite Spying Concerns
Jul 9 2013 // The United States and the European Union began talks on Monday on a landmark bilateral free trade agreement, despite European concerns about U.S. spying that had threatened to delay the start after nearly two years of...
Flood Losses Dominate Disaster Count in 1st Half of 2013: Munich Re
Jul 9 2013 // Floods caused billions of dollars in losses and dominated the natural catastrophe statistics for the first half of 2013, according to a study released by Munich Re. “Around 47 percent of the overall losses and 45...
Retailers Plan Bangladesh Factory Inspections under Safety Pact
Jul 9 2013 // A group of mainly European retailers has finalized a plan to conduct coordinated inspections of factories in Bangladesh in an attempt to prevent a repeat of the Rana Plaza disaster that killed 1,129 people in April. The...
Swiss Re Estimates Europe Flood Claims at $300 Mn; Overall Losses $3.5-$4.5 Bn
Jul 8 2013 // Swiss Re has estimated that its claims burden from recent flooding in central and Eastern Europe is approximately $300 million, net of retrocession and before tax. Industry-wide insured losses are estimated to be between...
In Past Decade, World Experienced Unprecedented Climate Extremes: WMO
Jul 3 2013 // The world suffered unprecedented climate extremes in the decade to 2010, from heatwaves in Europe and droughts in Australia to floods in Pakistan, against a backdrop of global warming, a United Nations report said on...
Markel Promotes Richardson to European Retail Claims Manager
Jul 2 2013 // London-based specialty insurer Markel International Limited has appointed Mike Richardson as European retail claims manager. Previously claims manager for Markel International’s UK retail division, a position he held...
U.S. Suspends Trade Benefits for Bangladesh Over Workplace Safety
Jun 28 2013 // President Barack Obama on Thursday cut off longtime U.S. trade benefits for Bangladesh in a mostly symbolic response to dangerous conditions in that country’s garment industry that have cost more than 1,200 lives in...
