Rapid growth in containership size has brought industry concerns over the accumulation of value on mega container vessels (those with capacity of >10,000 Transport Equivalent Units or TEU), the concentration of value flowing through a limited number of ports and along just a few routes, and the potential for major losses impacting multiple lines of business. In this article we look at whether these concerns are supported by existing data and what the future direction of mega container vessel growth might mean for the London Marine Insurance Market.
Investment in intangible assets is growing rapidly, to the point where they have become the predominant source of economic value for global companies. Despite this, there is still a lack of awareness among the insurance and wider business community of the growing importance of intangibles, as well as the associated risks and how to mitigate against them.
The decisions made in the first few hours of an environmental incident often have a significant impact and will influence the extent of damage, the resulting financial loss and the impact on a company’s reputation. As such, having a Pollution Incident Plan in place helps companies to anticipate environmental incidents and prepare for how they would respond.
In the third quarter of 2021 the number of securities class actions (SCA’s) against non-U.S. based businesses increased, compared with the first two quarters of the year. During the quarter, there were 11 core class actions filed against foreign filers domiciled outside the United States (“non-US issuers”). In comparison to the total number of core SCA’s for the quarter (47), non-US issuers represent 23.4%.
The last decade marked the creation of specialist trade finance funds and establishment of trade finance as a distinct institutional asset class. As the demand for trade finance funding increased and banks retreated due to regulatory capital requirements, institutional investors stepped in to fill the gap, seeking enhanced returns on short duration assets.
Environmental risk is rarely top of the list for real estate investors but is something that should not be ignored. Property owners, developers and tenants face a range of exposures, some of which seem quite innocuous but can have expensive consequences.
The first half of 2021 saw a decline in the number of securities class actions against non-US based businesses, against the same period in 2020. The first half of 2021 saw a decline in the number of securities class actions against non-US based businesses against the same period in 2020. There were 14 class actions filed against foreign private issuers, or 14.6% of the total of 96 federal suits filed. This was a 40% decline in filings from the same period in 2020 (35). This is one of the lowest half-yearly number since the 28 cases filed in 2013 and well below the trailing 10-year H1 average of 36 cases.
On the 30 June 2021 the European Commission announced that the UK would be able to participate in the Green Card Free Circulation Area (GCFA), which comprises all 30 European Economic Area (EEA) countries as well as Andorra, Bosnia & Herzegovina, Serbia and Switzerland.
A quiet start to the first quarter of 2021, but too soon to speculate on class action numbers against foreign filers for the rest of the year. Over the last decade, and specifically in the last five years, the annual number of Securities Class Actions (SCA’s) against non U.S. companies significantly increased and remains at a consistently high level. AIG’s latest quarterly SCA bulletin for Q1 2021 shows a relatively quiet quarter with 7 core SCAs against non U..S. companies.
Transportation is a vital part of the industrial process but one where the environmental risks are often not adequately understood. As a result, there are some in the haulage industry who are operating with uninsured or underinsured exposures, leaving themselves – as well as the environment – open to significant damage if something goes wrong.
The claims landscape for Directors & Officers insurance is shifting. The cost of claims is rising, driven primarily by a combination of an increase in bribery and corruption investigations, US securities litigation against foreign-domiciled firms reaching an all-time high, and greater number of regulatory investigations.
As governments around the world look to steer their economies towards recovery from the worst recession in living memory, infrastructure investment is high on the agenda for many.
Environmental liabilities present a growing risk to businesses. Heightened levels of public awareness and developing regulation have made businesses more accountable for environmental damage. At the same time, cyber risk is an ever-growing threat to companies of all sizes. The point where the two converge is presenting new challenges.
Actions Against Foreign Filers at an Historical High. This past year has seen interesting and emerging activity arising in securities litigation in United States courts against foreign filers. Companies with headquarters or principal places of business outside the United States (“non-US issuers”) continue to be targets of securities class action lawsuits filed in the United States. In 2020, the number of securities class actions filed against non-US issuers reached a historical high.
#ChooseToChallenge. A catchy tagline, but what does it actually mean? Last weekend, I got first hand evidence. In yet another Zoom social with friends, I asked a toddler on the call “what do you want to be when you grow up?” and rather confidently, she answered with: “an astronaut”. This year’s call to action for International Women’s Day is all about this. The power of becoming alert. By slowly changing who we see in the media, the toys our children play with, and other small aspects of everyday lives, we are challenging the status quo. Little by little we are breaking down those unconscious biases that start with our children drawing girls as nurses and boys as astronauts.