Political violence, Iran war losses mount
The Iran war is causing significant losses for political violence and marine insurers, and driving sharp rate increases in some of the most exposed specialty classes, while potential claims from trapp
Latest News
Digital health market accelerates AI adoption amid governance concerns
The global digital health and wellness industry is courting potential risk as it accelerates adoption of AI at a rate that outpaces the appropriate governance, according to research from Beazley. Publ
GDV warns against ‘false sense of security’ after lower cat losses
As Germany struggles with continued drought and historically low water levels on the Rhine, five years after the devastating floods in Germany’s Ahr Valley, the German insurance association GDV has wa
Chevron, insurers settle over Iran tanker seizure
Zurich American and other insurers have settled a dispute with Chevron over a $57m claim following Iran’s seizure of a crude oil tanker in the Gulf of Oman in 2023. Judge Jacqueline Scott Corley of th
Allianz UK expands financial lines coverage
Allianz UK has announced an expansion of its financial lines digital trading coverage in order to help brokers place a wider range of more complex risks online. As financial technology has advanced, m
GVNW urges members to get behind ORDA data exchange
The Open Risk Data Association (ORDA) platform, which was created by risk and insurance managers to try to make the German industrial insurance market more efficient through better data exchange, has
GVNW calls for renewed effort on state-backed nat cat scheme
The discussion about how best to address systemic risks such as natural catastrophes and a potential mandatory insurance scheme continues to rumble on in Germany, with no clear conclusion in sight. Th
Dutch insurer joins flood research initiative
Dutch insurance group Nationale-Nederlanden and the Amsterdam School of Economics (ASE) are collaborating on a new research initiative designed to map flood risks and their consequences for the financ
‘Polluter pays’ rules for cosmetic and pharma firms should be annulled: ECJ
Europe’s pharmaceuticals and cosmetics sectors say rules that require them to pay for the majority of clean-up costs to remove toxins from urban wastewater are “on the brink of collapse” following a r
German risk managers demand insurers recognise ‘massive’ investments in climate risk resilience
The topic of climate change, its impact on German society, the economy and businesses, as well as the nation’s willingness and ability to invest in mitigation and resilience, is a hot topic currently.
Most firms report financial losses from climate-related disruption
Almost all (94%) senior business leaders admit climate-related disruption caused their firm financial losses in the past two years, according to a report by Capgemini and sustainability platform Sweep
GDV urges more cyber protection in wake of Berlin hack
Cyberattacks on German businesses and government agencies are on the rise and investment in cyber protection needs to be stepped up, says German insurance association the GDV. It follows attacks on pa
German market ‘decisively soft’ with no signs of turning: Marsh
The German commercial insurance market has moved “decisively” into a soft phase, with strong insurer competition and abundant capacity creating increasingly favourable conditions for large buyers, Tys
German government organises crisis management exercise to tackle drought
The German Federal Office of Civil Protection and Disaster Relief (BBK) is organising a large-scale training and crisis management exercise from 4 to 6 November to help mitigate rising drought risk fa
Role of German risk manager undergoing ‘profound transformation’
The board of the German risk and insurance managers’ association (GVNW) said the role of the risk manager is undergoing a “profound” transformation in Germany currently. Historically seen as insurance
GVNW focuses on broker remuneration as smaller firms lose out with commissions
German risk and insurance management association GVNW is concerned that smaller member firms may be at a disadvantage to their larger peers under the commission-based broker remuneration system preval
German risk managers face rising state-backed cyber threat: Bitkom
German companies are increasingly being targeted by cyberattacks that they suspect are linked to foreign intelligence services, a study by digital industry association Bitkom showed in late August. Th
After the heatwaves: How risk managers should prepare for an uncertain nat cat future
Europe’s recent heatwaves may be fading from the headlines, but the risk environment they reveal is not. Consequently, says BELFOR’s Martin Schachtschneider, risk managers face a future in which yeste
Chemical and pharma giants face supply chain crisis as Rhine hits record low
The Rhine is currently carrying less water than since records began in Germany and the Netherlands, bringing a serious threat to shipping and supply chain headaches, alongside higher costs for core in
Mixed market for German buyers with carriers more data driven: Fiedler
GVNW president Patrick Fiedler reported a mixed industrial insurance market for members at the association’s Symposium, as lines split in different directions and insurers increasingly distinguish bet
Follow & Subscribe
Get the latest updates on Facebook and Telegram
Follow on Facebook
Scan with your phone
Scan with your phone Join on Telegram
Scan with your phone
Scan with your phone