To avoid the worst impacts of climate change, global temperature rise must be limited to no more than 1.5°C, requiring global carbon emissions to decline to net-zero by the middle of the century. Accordingly, the European Union (EU) has set a new target to reach net-zero emissions by 2050. Most of the low-carbon investment needed to achieve this goal must come from the private ... Continue Reading »
Europe
Cyberattacks Are Top Concerns Among Business Leaders in the Largest EU Economies
Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that concerns about “cyberattacks” are top among business leaders in the four largest European Union (EU) economies: Germany, France, Italy and the United Kingdom; and rank first in another six countries across the continent. In late 2018 and throughout 2019, European countries have experienced cyber ... Continue Reading »
Baden Baden: GC@BB Commentary Roundup
Here we highlight the most popular stories among our GC@BB series, which featured our review of critical issues shaping the reinsurance industry. These were the focus of discussions at the recent Baden Baden Reinsurance Symposium, which was hosted by Guy Carpenter. ... Continue Reading »
Climate Resilience: Opportunities for the Insurance Industry
The potential impact of the effects of climate change is requiring multiple stakeholders to re-think their approach to climate resilience. In recent years we have witnessed heightened weather volatility, and according to the majority of scientific opinion, this trend is expected to continue, according to Ruth Lux, Head of Public Sector EMEA, Placement Solutions Group. ... Continue Reading »
Motor Insurance in EMEA: Evolving at Speed
Motor insurance is the most widely purchased property and casualty product in Europe and represents an important platform in the region for both traditional and non-traditional products, managing general agents, captives and other affinity and distribution platforms, according to Federico Camera, Managing Director, Guy Carpenter and Pawel Koszorek, Senior Vice President, Guy ... Continue Reading »
Terrorism Risk in Europe
The threat of Islamist extremism remains high in Europe, driven in part by radicalized individuals returning from fighting in Iraq and Syria. Religious extremist attacks in the E.U. will likely target the entertainment and hospitality sectors and public spaces frequented by tourists, according to the 2019 Terrorism Risk Insurance Report, from Guy Carpenter affiliate, Marsh. ... Continue Reading »
United Kingdom Will Face Labor Shortages in a Post-Brexit World
Profound demographic shifts are shrinking the global supply of workers with surprising speed. Post-Brexit, a points or quota system seems likely to control migration to the United Kingdom. Coupled with the demographic changes, this could create significant challenges for the U.K. labor force. The peak migration demographic of 20- to 34-year-olds has been falling within the ... Continue Reading »
One-Year Anniversary of the GDPR: A Look Back and Ahead
When the European Union’s General Data Protection Regulation (GDPR) took effect in May 2018, it signaled the start of more aggressive privacy oversight and enforcement in an era of rapidly advancing technology. The diversity and scope of enforcement actions, and the intersection of data privacy regulation with technology, are likely to pose increasing challenges for regulators a ... Continue Reading »
One-Year Anniversary of the GDPR: A Look Back and Ahead
When the European Union's General Data Protection Regulation (GDPR) took effect in May 2018, it signaled the start of more aggressive privacy oversight and enforcement in an era of rapidly advancing technology. The diversity and scope of enforcement actions, and the intersection of data privacy regulation with technology, are likely to pose increasing challenges for regulators ... Continue Reading »
Sir Richard Dearlove plays down Brexit but warns insurers of risks posed by “new international order”; MMC Young Professionals’ Global Forum 2019
The impact of Brexit on the London insurance market will be minimal, according to Sir Richard Dearlove, OBE, Non-executive Chairman of Ascot Underwriting, describing Brexit as "a sideshow." Addressing delegates at the MMC Rising Professionals Global Forum, Mr. Dearlove said: "The London insurance industry is a global industry, not a European industry, so the effect of Brexit ... Continue Reading »
