Commercial Risk

Organisations that use a captive consistently outperform peers without a captive when it comes to ESG, according to Marsh. Research based on data from Marsh’s ESG Risk Rating tool revealed that companies with a captive were, statistically, performing significantly better in all categories of ESG. Marsh said that one way that... https://ow.ly/fqXC50Uw6Mn #captives #sustainability Marsh

Political instability has overtaken extreme weather to become the top risk for businesses in a poll of 500 risk and security leaders worldwide by healthcare and risk management solutions firm Healix. Almost all respondents (94%) said the world is becoming more dangerous, with 35% naming political instability as their top risk for the year ahead, followed by pandemic and disease (34%), and governance, regulation and sanctions (32%). 👉https://ow.ly/SMkI50Uw6HW #politicalinstability #politicalrisk #riskmanagement Healix

Aircraft lessor Dubai Aerospace Enterprise said it has settled with insurers of jets stranded in Russia for a further $201m over the past three months. This adds to previous settlements, including a $118m payment from the insurer of Russian airline Aeroflot in December 2023, taking cumulative payments from insurers to $319m. The lessor said the settlements have been agreed with insurance companies of aircraft leased to airline carriers in Russia, which were left stranded in the country when Russia invaded Ukraine. 👉https://ow.ly/xI1q50Uw6C3 #dubaiaerospacve #aviation #LeasedAircraft Dubai Aerospace Enterprise

Companies face the threat of having their long-term risk management ambitions hampered by their senior executives’ focus on short-term economic risks. This is the warning issued by Zurich’s chief risk officer for commercial insurance Stephan Unterberger, who spoke to Commercial Risk Europe on the back of the recently released World Economic Forum (WEF) executive opinion survey. 👉https://ow.ly/QMzK50Uw68s #riskmanagement #risk #economicrisk Zurich Insurance

The UK data protection body has warned Google it risks regulatory action when it allows organisations using its advertising products to employ fingerprinting techniques from February 2025. The Information Commissioner’s Office (ICO) said Google has u-turned on its policy, which had previously prohibited organisations from using the technology, exposing Google to potential regulatory action. 👉https://ow.ly/N9gb50UuTtC #Google #Cyber #RiskSpecialty

Aon has enhanced its Climate Risk Monitor solution with a collaboration with flood expert Fathom. Aon said it will assist clients to better understand the influence of a changing climate on flood perils worldwide. The new collaboration with Fathom utilises high resolution data to bolster Climate Risk Monitor’s functionality across flash flooding, river flooding, coastal flooding and.... 👉https://ow.ly/HeNJ50UuTm5 #Aon #ClimateRisk #Flooding #ClimateRiskInsurance Aon

Conditions are generally benign in the airline insurance market and look likely to continue into 2025, according to WTW. The broker adds that organisations that engage proactively and transparently are likely to get the best out of their carriers. WTW’s Airline Insurance Market Renewal Outlook: Q4 2024 notes exposure growth has been a key topic of... 👉https://ow.ly/l2P650UuTce #airlineinsurance #aviationinsurance #aviation WTW

Tropical Cyclone Chido, which hit the French overseas department Mayotte this week, is set to cost between €650m and €800m in insured losses, with at least half covered directly by the French nat cat scheme CCR. The initial estimates from CCR, which allows insurers to benefit from its coverage against natural disasters backed by an unlimited state guarantee, counts the financial cost from one of the first cyclones in the South-West Indian Ocean cyclone season. 👉https://ow.ly/kKVS50UuTx1 #CycloneChido #PropertyInsurance #RiskSpecialty

A severe geopolitical shock would trigger a near-100 percentage point drop in the solvency of Europe’s insurers and wipe more than €270bn from their capital, according to analysis by Eiopa, insurance regular and adviser to the European Commission. More... https://ow.ly/1AIh50UuT7z #insurancerisk #riskmanagement #geopolitical European Insurance and Occupational Pensions Authority (EIOPA)

Zurich Insurance wants more focus on the rising number of litigation funders setting up in the EU and is concerned that these moves mean legal firms think mass class actions will spread to the region, despite efforts by law makers to avoid this scenario. Executives from the insurer warned risk managers that... 👉https://ow.ly/8w6m50Uuou8 #RiskManagement Zurich Insurance @LegalInsurance