EU adopts €673bn Recovery and Resilience Facility

Latest News

EU adopts €673bn Recovery and Resilience Facility

By Mark Evans 2021-02-12

The European Council has agreed the regulations that creates its Recovery and Resilience Facility and will make €672.5bn in grants and loans available for public investment and reforms in the 27 member states to help them address the impact of the COVID-19 pandemic, and to “foster the green and digital transitions and to build resilient and inclusive societies”.

Under the new regulation, member states will need to set out in their national recovery and resilience plans a coherent package of reforms and investment projects, covering six policy areas of European relevance including green transition, sustainable and inclusive growth.

At least 37 per cent of each plan’s allocation has to support the green transition and at least 20 per cent the digital transformation.

Financial institutions were early adopters of cyber security and insurance. Are they still on top of the game?

Managing huge amounts of sensitive data online makes financial institutions a prime target for hackers. As such, the sector was an early cohort for insurers in creating cyber cover. Since then, the market has evolved almost beyond recognition. It continues to challenge itself to this day, complying with rigorous regulatory demands and implementing avant-garde enhancements to keep abreast of the ever-changing risks. Published June 2021

Manufacturing: An industry at risk amid great technological change

Of the many sectors of business, manufacturing companies are among the most at risk from cyber threats. How has the sector evolved to make it so vulnerable and what does the task of managing cyber exposure in a manufacturing company look like? CIR’s latest podcast with Tokio Marine HCC sought to answer all these questions and more. Published April 2021