UK corporates face a growing risk of insurance claims not paying out, according to the consultancy Mactavish. Its data suggests that 45% of larger, more complex commercial claims are currently disputed by insurers, and that on average they take three years to resolve, with settlements of around 60% of the initial estimated values.
A recent Court of Appeal case has found that companies can be responsible for an employee's data breach even where the companies themselves are not in breach of data protection laws and have done all they can to prevent misuse. The class action, involving Wm Morrison Supermarkets plc, has wide implications for risk managers and the insurance market. This analysis was prepared by Greig Anderson, Rachelle Waxman and Sarah Irons of Herbert Smith Freehills.
Construction PI cover may be increasingly expensive and more difficult to obtain as a result of the Grenfell disaster and historic losses in the construction PI market, with insurers requiring increased information and imposing stricter policy terms and conditions.
Now that a hacker working in his bedroom can cause as much economic damage as a tropical storm, is the insurance industry keeping up with the changing needs of its corporate customers? The question provoked very different answers from the panel at Airmic's Academy Day.
The often-imperfect relationship between risk managers and the Information Security department is a concern - but it also presents an opportunity.
The Airmic Leadership Group held a summit to discuss measures being taken by the insurance market to mitigate the disruption caused by Brexit - and how risk managers can ensure their policies remain effective.
International co-operation is on the decline, posing unnecessary risk and uncertainty for countries and companies, according to the keynote speaker at next month's Airmic ERM Forum.
A second group of students have signed up for the Airmic leadership programme arranged in partnership with Cass London Business School.
That was the main question in a highly informative panel discussion on cyber governance at the Technology Academy Day.
The winning dissertation by this year's CASS leadership students asks why so few companies have yet to integrate risk management successfully into decision making or find a stable place for risk management in the corporate hierarchy.
Changes brought about by the Insurance Act 2015 in relation to basis clauses, warranties and other terms may have the knock-on effect of seeing the increased use of conditions precedent in policy wordings. Paul Lewis and Laura Moorhead of Herbert Smith Freehills LLP exp
Although Theresa May has said that "Brexit means Brexit", there is still a huge amount of uncertainty and debate about what it will actually look like. Ben Waterton of Arthur J. Gallagher urges risk managers to act now.
Exhibition stands for the 2017 Airmic conference in Birmingham are now on sale to non-sponsors, the association has announced. The exhibition hall is one of the highlights of the annual Airmic conference, offering delegates networking opportunities, food and drink and entertainment.
Cyber-attacks have become a fact of business life and being unprepared is no excuse. Sarah Hewitt of Arthur J. Gallagher offers advice on what an effective breach response plan should look like.
Airmic’s new website will be live in time for the annual conference with a different look and feel, greater ease of use, more member focus and compatibility with tablets and smart phones.