Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
EU, IMF Agree on $147 Billion Greece Bailout; PM Warns of ‘Sacrifices’
May 3 2010 // European finance ministers triggered a record €110 billion ($147 billion) bailout for debt-stricken Greece on Sunday, May 2, when Athens committed itself to years of painful austerity. After weeks of tough talk and...
EU Climate Chief Says Financial Crisis Threatens Vital Innovation Risk
Apr 30 2010 // Innovation vital for Europe’s future is at risk, because the global financial crisis has turned once-challenging emission reduction goals into easily achievable targets, the European Union’s top climate...
EU Says Volcanic Ash Cost $2 to $3.3 Billion; Plans Airline Aid
Apr 28 2010 // Last week’s volcanic ash cloud cost European Union airlines €1.5 to €2.5 billion ($1.98 to $3.3 billion), the European Union executive said as it proposed a series of actions to help the cash-strapped...
FERMA Comments on EU’s New Block Exemption Regulations
Apr 26 2010 // The Federation of European Risk Management Associations has welcomed the adoption of the new European Union insurance block exemption regulation (BER) by the European Commission with reservations. “The entry into...
Why Economic, Market Risks of Ash Cloud Are Hard to Measure
Apr 21 2010 // Policymakers and markets trying to react to the volcanic gas cloud paralyzing air travel in Europe face a host of variables, unknowns and hard-to-measure risks that make modelling almost impossible. No one can accurately...
Flights Pick Up in Europe As Ash Risk Is Lowered
Apr 21 2010 // European airports started to return to life on Tuesday after five days cut off from the rest of the world by a volcanic ash cloud, but some countries were more cautious after reports a new cloud might be on its way. The...
Flights Resume in Parts of Europe
Apr 20 2010 // Flights from large parts of Europe are set to resume on Tuesday under a deal agreed by the European Union to free up airspace closed by a cloud of ash hurled into the sky by an Icelandic volcano. However, with the cloud...
European Trade Chief Warns On Volcanic Ash Economic Impact
Apr 19 2010 // The European Union’s economy will face serious consequences if a volcanic ash cloud that has disrupted flights across the continent continues for a long time, its trade chief said on Monday. “If this were to...
If Ash Cloud Lingers, Economic Impact Could Rise Sharply
Apr 19 2010 // The economic impact of the volcanic cloud halting flights across Europe will increase sharply the longer disruption continues, forcing holiday cancellations, delaying deliveries and reducing jet fuel demand. African...
European Insurers Expect Little Hit from Volcano Fallout
Apr 16 2010 // Airlines which stand to lose millions of euros from a cloud of Icelandic volcanic ash disrupting flights and closing airports across northern Europe are expected to have little recourse to recoup losses from insurance...
Italy’s Mt. Vesuvius Ranked as Europe’s Most Dangerous Volcano
Apr 15 2010 // A major eruption of Italy’s Mount Vesuvius could result in 8,000 fatalities, 13,000 serious injuries and total economic losses of more than $24 billion, says a new study. According to the Willis Research Network...
Report: Q1 Catastrophe Bond Market Sees Sustained Improvement
Apr 14 2010 // Catastrophe bond issuance conditions saw sustained improvement in the first quarter of 2010, reflecting the increase in prominence of the insurance linked securities (ILS) asset class. Despite the continued improvement in...
Legal Uncertainty, Prisoner Releases Making Piracy Problem Worse
Apr 9 2010 // Piracy off the coast of Somalia is getting worse, partly due to the legal limbo that has led some countries to release captured suspects, Russia’s U.N. envoy said this week. Over the past year and a half, the U.N....
Risk of Aging Europe Falls on Small Group of Pension Providers
Apr 9 2010 // The aging of Europe may open opportunities to sell savings products, but it also spells a real threat to parts of the financial services industry. Pensions experts call it the “toxic tail.” Like the subprime...
Business Moves
Apr 5 2010 // ISU, Webb, Ken Hargis, Cox & Kimball, Darlage ISU International added four new member agencies in the Midwest: ISU Insurance Services The Webb Agency of St. Charles, Mo.; ISU Insurance Services Ken Hargis Agency of...
FERMA Survey Polls Commercial Buyers for Feedback to Insurers
Apr 1 2010 // The Federation of European Risk Management Associations (FERMA) announced that it is presently conducting, “a wide-ranging, risk management benchmarking survey,” aimed at compiling data to let insurers know...
EU Trade Chief Says U.S. Must Make First Move to Restart Doha Round
Mar 23 2010 // The European Union cannot make more concessions on farm trade to restart stalled world trade talks and the United States must make the first move, the EU’s new trade chief said on Monday. The ball was not in the...
Growing Skepticism Ignores Climate Change Facts; Max Merges with Harbor Point; Terrorist Pirates Threaten the Malacca Strait
Mar 22 2010 // The Climate Change debate rolls on, but real decisions and effective actions remain elusive. Hardly a week goes by without a new report or study on the changes affecting the atmosphere, but the general public appears to be...
UK Risk Managers Warn of Harm to Business in New Solvency II Proposals
Mar 22 2010 // The Solvency II reforms, as currently proposed, “would reduce the amount of insurance capacity available to UK businesses and put up the cost of cover,” according to the UK’s AIRMIC (the Association of...
Marsh: Environmental Liability Concerns Top Risk Management Agenda
Mar 19 2010 // “The heightened environmental liabilities created by recent European Union (EU) and UK environmental legislation were among the top risk management concerns raised by delegates at this week’s Base conference in...
