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Regulation

Global Climate Regulation Looms on the Horizon. Are Banks and Insurers Ready?

Many of the world’s leading banks and insurers are busy finalizing their response plans to the Bank of England’s innocuous-sounding supervisory statement number SS3/19. It sets out the regulator’s expectations for how banks and insurers should manage the financial risks of climate change, including modification of governance and risk management frameworks, development of scena ... 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 »

U.S. Terrorism Risk Backstop Up for Renewal in 2020

The federal backstop created by the Terrorism Risk Insurance Act (TRIA) and reauthorized as TRIPRA - along with similar public-private mechanisms that exist in other countries - remains crucial to the continued stability and health of the property terrorism insurance market. As TRIPRA's expiration on December 31, 2020 approaches, Marsh & McLennan Companies colleagues ... Continue Reading »

Advancing Cyber Risk Management – From Security to Resilience

In an increasingly digital economy, cyber threats and vulnerabilities evolve fast. But despite growing anxieties around cyber, traditional security strategies and investments continue to lag. For organizations focused on balancing their growth plans and cyber security priorities both challenges and opportunities remain. The new report from Marsh & McLennan Insights, ... 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 »

Evolving Regulatory Pressures Signal Potential Turning Point in Cyber Risk Management Strategies

Siobhan O'Brien, Head of the Cyber Center of Excellence for International and Global Specialties Contact Cyber risk presents an exciting opportunity for re/insurers, but as one of the most dynamic perils in the industry, regulators are formalizing capital requirements and quantitative and qualitative measurements of risk appetite. In the United Kingdom, the Prudential ... Continue Reading »

Evolving Regulatory Pressures Signal Potential Turning Point in Cyber Risk Management Strategies

Siobhan O'Brien, Head of the Cyber Center of Excellence for International and Global Specialties Contact Cyber risk presents an exciting opportunity for re/insurers, but as one of the most dynamic perils in the industry, regulators are formalizing capital requirements and quantitative and qualitative measurements of risk appetite. In the United Kingdom, the Prudential ... Continue Reading »