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Established 1996
Friday 26 August 2016


Majority of UK employers lack employee health strategy

Barely a third of employers in the UK fully understand the impact of their employee health issues. This is the conclusion of Aon's annual study of employee health across the EMEA region, which also claims that UK companies are less likely than their neighbours to have a defined health strategy.

Emergency operations ongoing following Italy quake

Several aftershocks of between M4.1 and M4.9 have been reported in central Italy since a major M6.2 earthquake struck near the town of Norcia on 24 August. Emergency operations in the worst-affected areas (Rieti province in Lazio region and Ascoli Piceno province in Marche region) are ongoing.

Misdeclared cargo causing a third of incidents on ships

Data captured by the Cargo Incident Notification System (CINS) indicates that some 27% of incidents in terms of detected causation were attributable to cargo being mis-declared, second only to poor packaging. UK P&I Club risk assessor David Nichol says it is imperative for the safety of the ship and crew that all necessary steps are taken to handle and stow dangerous goods in such a way that reduces the risk of an emergency incident.

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Declining profits could impact reinsurers’ financial strength

Underwriting profits for the global reinsurance sector declined in the first half of this year, while recent profitability for several companies fell to levels that could diminish their financial strength. While the industry still reported an overall profit, profit levels were lower than in the first half of 2015. This is according to a new global reinsurance mid-year 2016 report from Fitch Ratings.

Insurance Act comes into force

The new regime for commercial insurance law comes into force today. Designed to increase professionalism in the placing of commercial insurance, the new Act aims to provide fairer outcomes for customers, and will also bring new considerations for brokers and businesses when arranging insurance

Regulatory reform in Asia expected to increase appetite for reinsurance

Asian regulators are in the process of implementing a range of measures that would alter the operating and business climate in the region, which could increase the region’s appetite for reinsurance. Fitch Ratings believes that these recent initiatives could lead indirectly to greater demand for reinsurance, as direct insurers rethink risk management strategies and appetite.

Global InsurTech attracts US$1bn investment in H1

The first two quarters of 2016 have seen over US$1bn in venture capital investment according to report carried out by KPMG and CB Insights.
VC investment into wider FinTech firms fell by almost 50% in Q2’16 but InurTech stands out as it continued to attract significant attention.

SMEs at risk of cyber protection gap

Nearly one in three SMEs see developing an online presence as a key opportunity for their business in the year ahead, but only one in 10 perceive cyber attacks as a threat to that growth. These are the findings of a survey of over 1,000 UK SMEs, carried out by Aon Risk Solutions, in which 24% of respondents saw online presence as key to their business, but just 3% have cyber insurance.

Business resilience
Business resilience

CIR speaks to FM Global’s Simon Baker-Chambers about business resilience in the waste-to-energy sector

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Industry News

Deborah Ritchie provides a summary of some of the latest stories in business risk, insurance and resilience

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