Aon’s latest “Political Risk Map” focuses on the implications of the uprisings in the Middle East, collectively referred to as the “Arab Spring,” and the political transitions they have produced, which “raise concerns for businesses around the world.” Aon points …
Carnival Corp, whose luxury cruise liner Costa Concordia capsized off the coast of Italy last week, said on Thursday it will conduct an audit and review of safety and emergency response procedures at all of its cruise lines. Carnival Chief …
The liability risks facing company directors and officers are intensifying in the wake of the economic crisis. At the head of the list are “regulatory investigations and enquiries,” which pose the greatest perceived threat to companies and their directors. The …
Amidst all the turmoil in the euro zone, the implementation of the Solvency II regulations, governing the 27 members of the European Union, including the UK, grinds inexorably forward. It is a fact of life for British insurers, and their …
Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain isolated. Twenty-three …
The Federation of European Risk Management Associations (FERMA) announced that it has sent “specific recommendations to the Brazilian insurance regulator SUSEP to limit the impact of regulations 225 and 232 on market capacity and security in the interest of business …
The United States criticized China on Monday for failing to fulfill World Trade Organization commitments to open its financial services market, while the European Union and Japan pressed for answers on specific areas of Beijing’s regulations. “While we welcome China’s …
UK Prime Minister David Cameron announced plans to amend British law to allow UK registered vessels to employ armed guards as security, when they are transiting dangerous waters – mainly those off the coast of Somalia. Cameron’s initiative marks a …
Stefan Holzberger, A.M. Best’s managing director-analytics, recently moved to London from the U.S. He is well placed to analyze the impact of the European Union’s Solvency II regulations, not only on the Europeans, who are directly affected, but also on …
Dr. Josef Ackermann’s keynote speech to delegates at the Risk Management Forum of the Federation of European Risk Management Associations (FERMA) basically described the global financial system as broken and in need of a “fundamental reassessment.” As the Chairman of …
