SMEs Reap Benefits from Trade Credit Insurance as Economic Risks Rise: UK’s ABI

Nearly £36 million ($52.6 million) was paid in insurance claims to small businesses last year, due to customer insolvency or late payment, according to figures released by the Association of British Insurers (ABI). With the Bank of England recently cutting …

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Munich Re Plans to Spend $1.1B by 2020 to Restructure Primary Insurance Unit

Munich Re, the world’s second-biggest reinsurer, plans to spend 1 billion euros ($1.1 billion) by 2020 restructuring operations at its loss-making primary insurance unit in Germany. The plan for ERGO’s German operations includes cutting 1,835 jobs, or about 13 percent …

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Chipotle Serves Up Lessons for Restaurant Brokers, Insureds

The Centers for Disease Control and Prevention (CDC) estimates that one-in-six Americans gets sick every year from contaminated food or beverages. Those in the restaurant industry cannot ignore the risks. The recent chain of events that roiled Chipotle Mexican Grill …

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Sompo Canopius Hires de Haldevang as Global Head of Specialty

Sompo Canopius AG announced that Bernie de Haldevang is joining the group as global head of specialty. He will be responsible for further developing the group’s political risks lines and its accident & health and casualty lines, as it looks …

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EU Members Should Run Stress Tests for Banks’ Cyber Risks: EU Banking Chief

Domestic authorities in European Union member states should stress-test their financial institutions for cyber risks, a top EU supervisor said, saying banks might be required to hold extra capital as a buffer against what is an emerging threat. Speaking to Reuters in …

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EU Guidelines Seek to Rein in Crackdown on Uber, Airbnb

European Union governments should not ban services like home-rental site Airbnb or ride-hailing app Uber except as a last resort, the EU says in new guidelines, seeking to rein in a crackdown on the “sharing economy.” In guidelines seen by …

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Canada ‘Needs to Do More’ to Mitigate Climate Disasters Such as Wildfires, Flood

The Canadian government needs to do more to mitigate climate disasters such as floods and wildfires, a top green watchdog said on Tuesday as the Alberta town of Fort McMurray struggled to recover from a huge inferno. Environment Commissioner Julie …

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