- Mactavish: Brexit deal defeat piles pressure on liability risks
- Brexit deal defeat raises further concerns for businesses
- WEF: Geopolitical confrontation to continue to hamper progress in 2019
- IRM signs agreement with global certification partner Pearson
- Allianz study identifies top ten risks for 2019
Mactavish: Brexit deal defeat piles pressure on liability risks
A bad Brexit is likely to lead to heightened business interruption risks, and a surge in D&O claims, many of which will be rejected by insurers, according to Mactavish CEO, Bruce Hepburn. “Directors of listed UK companies face major liability risks for failing to prepare adequately for Brexit, especially if there is a ‘no deal’ outcome,” he said, reiterating his earlier warning that UK directors may have overlooked new liabilities that could leave them exposed personally to legal action because of traditional limitations applied to D&O insurance cover.
Brexit deal defeat raises further concerns for businesses
Business sentiment around the ongoing Brexit talks is somewhat frayed after the government lost last night's vote in Parliament on its proposed deal. Even if yesterday’s deal had been passed, our future relationship with the EU would still be unclear, and as it is, business are left with even more questions than they had before.
WEF: Geopolitical confrontation to continue to hamper progress in 2019
Economic confrontation between major powers is expected to continue to hamper progress throughout the year, with rising geopolitical and geo-economic tensions the most significant risk for 2019, according to the World Economic Forum’s latest Global Risks Report.
IRM signs agreement with global certification partner Pearson
The Institute of Risk Management has entered into a multi-year agreement with computer-based testing firm, Pearson VUE. The first certificates to move to the new system include the Digital Risk Management Certificate (from November 2019); the International Certificate in Enterprise Risk Management (June 2020), and the International Certificate in Financial Services Risk Management (June 2020).
Hiscox stages cyber attack simulation
Hiscox has collaborated with Brompton Bicycle to stage a ‘real world’ hack – simulating the effects of a cyber attack by constructing a complete clone of their east-London store overnight, hiring look-a-like staff and even stocking the shelves with counterfeit merchandise. Reactions of staff and passers-by were captured as the fake store - ‘3rompton’ - opened its doors to the public on the opposite side of the road and subsequently launched a series of cyber attack simulations on the genuine Brompton store in Shoreditch.
VisionTrack and Amber Assist in fleet safety solution JV
Accident aftercare and on-going mobility specialist, Amber Assist, has teamed up with VisionTrack to enhance its service offering to car and van fleets. Under the partnership the company will now be able to provide industry-leading vehicle CCTV and video telematics systems as part of its comprehensive accident management solution.
Multiple smaller nat cats drive average losses in 2018
Insured losses from major natural catastrophes in 2018 totalled roughly US$71.5bn, only slightly more than the annual average since 2011 but the third-highest total during the eight-year period, according to the latest figures from Willis Re. The average is driven upwards by peak annual losses of US$120bn in 2011 and US$143bn in 2017. In contrast to these previous peak years, where one or two natural disasters contributed a large percentage of the total insured loss, no such major event or events account for a large proportion of the 2018 losses. Instead, the total arises from a series of smaller and medium-sized loss events.
Allianz study identifies top ten risks for 2019
Cyber threats and changes in legislation and regulation, including concerns around Brexit are considered the top risks by UK risk experts – and rank joint first according to the latest Allianz Risk Barometer. Meanwhile, cyber incidents are neck-and-neck with business interruption as the top business risks globally. But what was the new entry in this year’s barometer?