Insights

Our 2023 annual Year in Review magazine is now live and can be read here: Year in Review 2023 - CNA Hardy Events (cnaeurope.events)

The third and final article in this series examines the implications underinsurance can have on the brokers advising the affected insureds.

Personal injury claims costs have surged since 2018, with more upward pressure expected in the months to come. The second instalment of this three-part series explores the impact of personal injury claims inflation on liability limits.

The perfect storm battering the UK’s construction industry has sent claims costs soaring and vastly increased the risk of insureds finding themselves with a liability limit shortfall. The first instalment of this three-part series examines how construction claims inflation is threatening liability limits.

We invite you to experience the life of our Risk Control Team through the perspective of DR. Soondus Moorhead, one of our Risk Control Consultants.

In the ever-evolving world of life sciences, adaptation is key. In his article with Insurance Journal Christopher Thompson, UK Life Science Segment Leader at CNA Hardy delves into the intricate relationship of collaboration and competition within this dynamic sector.

In this engaging piece, Brian Rainbow, UK Property & Package Segment Leader at CNA Hardy, explores the implications of the circular economy on the insurance industry in his article for Insurance Post.

In this insightful piece on Insurance Age, Mark Armstrong, the UK Technology Segment Leader, reveals how the constantly evolving world of technology is attracting the attention of cyber hackers.

Joe Wornham, Senior Technical Underwriter at CNA Hardy, analyses the insurance implications of this new legislation and the impact on the UK broker community.

Natalie Boardman, Underwriting Manager Professional Indemnity at CNA Hardy, talks to Insurance Post about the need for rigorous risk management and insurance that addresses UK construction firms’ numerous challenges.

Shipping companies, their customers, insurance brokers and insurers are hoping for calmer waters in 2023 after several years of high seas.

With the ever-evolving global landscape from post-pandemic consequences to the cost of living crisis, war in Ukraine and natural catastrophes, international businesses with exposures in multiple countries face a variety of unique challenges.

As a new year dawns, we are excited to share with you our very first Year in Review.

Cyberattacks are becoming increasingly common and healthcare providers are lucrative targets.

Having a robust, fit-for-purpose business continuity plan (BCP) should be a central part of risk mitigation at any major organization, yet far too often companies don’t give enough consideration to the matter, and don’t update them on a regular basis.

Insurance Day recently published an article penned by Lauren Bates, Excess Liability Portfolio Lead at CNA Hardy, around the important role excess-of-loss cover has in managing evolving construction risks.

Today, almost every single company creates, produces, and/or markets content to clients. Whether they do so through traditional means like advertisements, articles, videos, photographs, and broadcasts, or they use newer avenues like social media, podcasts, and other web-based platforms, all companies that engage in any marketing and communication have media liability exposures.

In the years following the Brexit referendum, the construction industry has had to face a number of challenges, including the fallout from the collapse of Carillion, skills shortages, and COVID-19. It would be an understatement to say the construction industry has been hit hard.

Bringing life-changing drugs and medical devices to market involves a number of specialist life science companies working together to research, design, trial, manufacture and distribute new products.

Clinical trials are an essential stage of bringing life-changing drugs and medical devices to market

Telemedicine has become a valuable medical technology and resource during the COVID-19 pandemic. Medical professionals and patients recognise that telemedicine is no longer solely about convenience. 

COVID-19 has presented many new challenges to law firms, from shelter-in-place orders to temporary closures to a remote workforce. 

CNA Hardy is an integral part of the global supply chain. We are dedicated to providing freight  forwarders and 3PL contract logistics companies with innovative, customised products and services, offering certainty and security.

With the holiday season fast approaching, card designers will be busy producing the latest festive greetings. As it can be one of the busiest times of the year, stress levels can be higher and mistakes can easily happen.

At a time when some insurers are reducing their primary limits, many businesses are demanding greater protection against larger liability claims. 

At the same time as many insurers are reducing their primary limits, businesses are demanding greater protection for larger liability claims. Consequently, there is a growing demand for Excess of Loss cover.

As a charitable organisation you bring people together to make a difference. Helping in many different ways, charities can often find themselves giving information, raising awareness; or even providing financial assistance. However, many charities often don’t understand that even they have liability exposures.

While most people know the basics of ransomware, the details of this threat – like all aspects of cyber security – are constantly evolving. In this post, we’ll discuss recent changes we’ve seen in the tools, tactics and procedures used by ransomware attackers, and share new information on detection avoidance, decryption tools and industries that may face the highest risk.

The sudden transition to remote working has left many businesses with an increased vulnerability to cyber attacks. 

As governments begin to ease business closure orders in the wake of the COVID-19 outbreak, employers face the task of reopening their physical workplaces. Download our guide which lists strategies to help employers navigate the re-entry process.

Being prepared gives your organisation the ability to adapt to all market conditions – including the challenges related to working remotely. View the key exposures we’ve identified, along with actionable solutions to enable effective work outside the office.

One of the best parts of being a landscape gardener is working with clients on their dream project. They can create functional, beautiful and relaxing gardens for all kinds of clients, from local councils and universities to private companies and residential gardens. Using their talent for design, landscape gardeners are responsible for designing the outdoor space, as well as executing the project on time and on budget.

Being a sports agent, is an all-consuming, 24/7, stressful job. It’s a role that demands professionalism, specialist knowledge and responsibility for the careers of often, young, inexperienced clients, who they have to nurture, manage and protect.

Coronavirus has brought unprecedented times to the world causing large scale business interruptions. We have prepared this guidance note to aid the user in the restarting of business premises and business operations.

Shutting down equipment and systems for extended periods of time can present the potential, if not done properly, to result in equipment failures and loss of containment of hazardous contents upon start up.

For marketing consultants, advertising agencies, multimedia broadcasters, PR advisors, publishers, brand designers and many others; the media industry is exciting, fast paced and constantly evolving.

During a disaster or other emergency event, businesses may elect – or be required – to shut down.

To maximise flexibility and convenience for policyholders, CNA Hardy is among the first carriers to offer a Remote Onsite risk assessment without an in-person visit.

Vacant and idle facilities present a higher level of exposure for fire, theft and vandalism, water damage and many other perils. Here are some tips to protect your business and reduce the risk before, during and after idle periods.

When working remotely, it is important to ensure that your workspace is set up for optimal comfort and productivity. These suggestions can help you work outside the office safely and successfully.

Everyone aims to deliver the best possible products and services to their customers, however if things go wrong, it pays to have cover.

In these unprecedented times; companies of all sizes are enabling their employees to work remotely. Unfortunately, some organisations are not fully prepared for this sudden switch to a remote workforce, which could potentially put the company at increased risk of a cyber attack. 

Our Risk and Confidence research appears to suggest that cyber fatigue is occurring.  In May ’18 a quarter of UK business leaders questioned cited cyber as their biggest risk concern.

The Risk and Confidence survey uncovered the risk perceptions and confidence levels of business leaders across the globe.    

The 4th industrial revolution is bringing great promise to solve many business problems, enabling tasks to be accomplished faster, more efficiently and more economically.

Part of our Cyber Security Basics series, watch Dr Danny Steed from cyber security consultancy, Resolve Cyber, as he explains how criminals target humans (instead of the technology) to get past verifications systems and access business systems. He gives real life examples of social engineering attacks and the devastating financial damage to affected businesses.

Dr Danny Steed from cyber security consultancy, ReSolve Cyber, close partners with CNA Hardy, provides his insight into how to respond to businesses who don’t view cyber as a threat.

Part of our Cyber Security Basics series, watch Dr Danny Steed from cyber security consultancy, Resolve Cyber, as he explains other risks cyber-attacks expose businesses to, including contractual loss and reputational damage. He and uses statistics to outline the importance of creating a cyber awareness culture.

Part of our Cyber Security Basics series, watch Dr Danny Steed from cyber security consultancy, Resolve Cyber, as he explains what a phishing email is and how these types of cyber-attacks work to trick businesses into losing money.

Stuart Kenyon, AVP Risk Control, looks at why reputation risk is rising and what businesses can do about it.

With temperatures dipping and heavy rain in the forecast, many businesses could find themselves unprepared when normal winter weather suddenly turns extreme.

The Cyber Threat Against Denmark 2019 report by the Center for Cyber Security reported that the cybercrime threat is very high.

This September, CNA Hardy launched its enhanced Cyber proposition throughout Europe with a new pre-breach service and vital additional coverages.

Louise Bett, Healthcare Class Underwriter, CNA Hardy

On the 18 September 2019, David Legassick of CNA Hardy and Paul Dickson of Innovation Broking presented at The Daily Telegraph Cyber Crime Summit to over 240 delegates.

Healthcare organisations face many complicated and unexpected legal and regulatory issues such as these real life scenarios.

We are pleased to announce significant enhancements to CNA Hardy’s Medical Liability healthcare package allowing more flexibility for clients and extensions for automatic coverage meaning our clients can get on with delivering safe and effective healthcare, knowing their insurance is flexing with them.

Economic and political risks are dominating the agenda within UK boardrooms. According to our Global Risk & Confidence Report, almost half (44%) of business leaders predict economic risk will rise through 2020 and 38% believe political risk will rise. The driver of course is Brexit.

Life science is a growing area of employment in the UK. The UK is a world leader in life science innovation, and in this context, the findings of the latest CNA Hardy Risk and Confidence survey make for interesting reading.  For in this sector at least there is some positive Brexit mood music.  

32% of businesses have experienced a cyber-attack in the last 12 months* and the threat is set to rise as cyber criminals use increasingly sophisticated techniques to perpetrate their crimes.

The latest UK government research shows that 20% of businesses have suffered a malware attack in the last 12 months*. Unsurprisingly, the research in our most recent Global Risk & Confidence survey, shows that 17% of small & medium sized businesses are prioritising cyber risk as their biggest concern, second only to political risk.

Global business leaders of professional services firms are predicting a brighter future for their businesses, and are confident in their ability to grow and prosper in the coming year ahead according to our latest Risk & Confidence research.

No business likes uncertainty, and with Brexit’s outcome still in a state of flux, our latest survey reveals that business confidence on both sides of the Channel has taken a battering over the past six months. This uncertainty is impacting on UK and European firms’ investment plans, which appear to be on hold, and it’s raising concerns over political, economic and regulatory and compliance risk.

Trade wars, Brexit, global political uncertainty, ongoing unrest in the Middle East and an increasingly interconnected global economy are just some of the factors creating a complex new risk environment for international businesses to deal with. This new risk landscape requires a risk management rethink as no firm today is immune in this new environment.

With the ongoing Brexit morass, business confidence on both sides of the Channel is being dented according to our latest Risk and Confidence report . With so much of the debate out of the hands of those running businesses in the UK and Europe, what lessons can be learned about the interconnected risk landscape we all face?

Our previous Risk and Confidence research identified that global business leaders were becoming more attuned to the concept of reputation risk arising from corporate, compliance and supply chain exposures, and a variety of other drivers.

The manufacturing sector represents one of the largest workforces and includes a diverse group of industries such as food and beverage, technology, metal, chemical, and textiles, to name a few.

It’s very easy to get tied up with the challenges and risks technology creates for almost every single industry sector out there. Behind every technology-related opportunity – of which there are many - lies a risk which isn’t always straight forward to mitigate and problems can arise.

In 2019, the life sciences sector is expected to see a strategic rise of the digital mindset and further adoption of transformative technologies, according to Deloitte.

Professionals are working more differently today than ever before, thanks to the technology that connects them to information, clients and peers in ways few could have envisioned a decade ago. The notion of what is a profession is itself evolving, as the internet enables people to deliver services remotely to clients around the world.

Major tectonic shifts are occurring in the healthcare and life sciences sectors and the use of technology is playing a leading role in this.

The accelerating pace of technological change is the most creative force – and also the most destructive – in the financial services ecosystem today.

There is no doubt that the transport and logistics sector is undergoing an important transformation as new technological solutions come into everyday use, driven by market trends.

Ahead of the launch of the next CNA Hardy Risk & Confidence Survey, we wanted to look over some of the predictions our 1500 global business leaders of multinational firms made in November last year, while looking six months into the future - which neatly brings us to now.

Tech is enabling incredible advancements in the healthcare sector, but these opportunities also bring new risks and exposures for patients, and the physicians and organisations that support the sector.

We are delighted to attend this year’s exhibition on the 15 & 16 May at Manchester Central. 

By Jonathan Powell, Head of Political Violence, CNA Hardy.

It’s fair to say that cyber is an undervalued risk for small and medium sized businesses, and it’s easy to see why. Cyber breaches and data hacks of huge, global brands like Marriott, Cathay Pacific and Talk Talk dominate the headlines.

Our latest research* revealed that only 36% of small & medium sized businesses are prioritising cyber risk, yet at the same time, SME’s are the victims of cyber-attacks by criminals using increasingly sophisticated impersonation fraud techniques to exploit their staff.

Recent years have seen advances in technology that have significantly impacted on all areas of the economy, changing the way in which we work, and indeed the way in which we live our lives.

The Fourth Industrial Revolution which focuses on advances in communication and connectivity is the insurance industry’s greatest test yet.

David Legassick, Head of Cyber, Tech & Life Science reviews the recent Mactavish Cyber Risk & Insurance Report and compares the common flaws highlighted in the report against CNA Hardy’s cyber insurance offering.

Technology risk is increasing. Advancements in technology continue to play a significant role in shape-shifting the global risk landscape at a rate which is hard to keep up with.

“As cyber insurance becomes a mainstream product, the insurance industry needs to consider how we avoid large losses and ensure that we are cognisant of where claims are likely to come from.”

The importance of risk management in dentistry and the consequences of poor investigation on patient health.

The latest Risk & Confidence survey reveal the concerns, risk blind-spots and confidence levels of business leaders across the globe.

At this year’s World Economic Forum (WEF) in Davos, one of the recurring topics was the impact of the so called 4th Industrial Revolution and the blurring of the lines between physical and digital worlds.

Claims arising from circumstances where a solicitor fails to issue proceedings within the time allowed by the Statute of Limitations are a common type of claim made against law firms.

Businesses across the globe are investing in tech to improve customer engagement, drive profitability, increase operations efficiency and innovation. Our latest research reveals that business leaders are now realising that this growing dependency is also increasing their exposures.

The survey reveals the concerns, risk blind-spots and confidence levels of business leaders across the globe. The Professional Services perspective makes interesting reading.

2018 really did throw a lot of challenges at us, and things don’t seem to be backing off as we think about what 2019 has in store for us from a risk perspective.

The economic and political landscape in 2018 has been a leading contributing factor to the overall risk levels for business leaders globally.

On 18th October 2018, the Supreme Court handed down its judgment in the case of Darnley v Croydon Health Services NHS Trust [2018], which has raised important issues about the legal liability of non-clinical staff when giving advice to patients.

Risk is global, confidence is local. That was the theme of our latest Risk and Confidence report, and a premise vividly brought to life by this week’s Brexit turmoil in the UK Parliament.

Seasonal weather causes pressures on healthcare systems across the world. Just as high temperatures and humidity can have a large impact on health, when the temperature falls during the winter months there are increased hospital admissions from cold-related illnesses.

It’s vital that we, as insurers, understand how claims handling operates outside a customer’s domestic market, in order for us to coordinate local policies around the world and manage claims effectively and efficiently.

The risk landscape in which businesses are operating is constantly evolving, leading to fluctuations in confidence levels around growth.

The use of timber in construction has lots of desirable, practical, aesthetic and eco-friendly qualities. Indeed, new developments in engineered timber means it has become the latest go-to material for both residential and commercial buildings, including innovative skyscrapers.

It’s fair to say that when it comes to choosing whether or not to combine your insurance coverage across a number of regions into one multinational programme, there are a several things to consider.

The environment in which lawyers and solicitors conduct their business is constantly evolving, with the risk landscape forever throwing up new challenges.

When waste isn’t wasted – A summary blog

There was a time when blood transfusions were met with fear and controversy but are now considered routine. What about a stool transfusion though? Could the general population ever accept a Faecal Microbiota Transplant (FMT) as normal?

When waste isn’t wasted – A Detailed Review

FMT is the process of transplanting microbes from the gut of a healthy donor to the gut of another, to replace good bacteria that has been killed or suppressed, usually by the use of antibiotics.

Whether it was the requirement to report on the gender pay gap that crystallised the scale of the imbalance in the workforce; the mounting waves of disquiet over the horrors called out by the #MeToo movement; growing momentum over Lloyd’s D&I programme; or just years of research that prove that diversity pays; but the penny finally seems to have dropped.

Issue 3: Prevention of Future Death Reports in Health and Social Care: how the system could be improved to create lasting and meaningful impact.

In the previous blog of this series it was proposed that Prevention of Future Death Reports (PFDs) were not as effective as they perhaps could be. There is no doubt that the intention of PFDs is to improve patient safety however there are obvious gaps in the process. How can the current system be improved to create lasting and meaningful impact whilst dovetailing with, rather than duplicating, the work of other agencies concerned with health and social care safety?

Life Science is a core specialism for CNA Hardy. To demonstrate this commitment we have refreshed our Life Science offering with a prominent new hires in London, the UK regions and Europe.

Small to mid-size businesses form the backbone of the UK economy, employing over 16.1m people (60% of private sector workforce) and representing 51% of UK’s private firm turnover.

Simon Hodgin UK South Regional Manager, takes a closer look at the latest Risk & Confidence Survey findings to understand the risk perceptions of the business leaders of mid-size companies.

Issue 2: Prevention of Future Death Reports in Health and Social Care: Do they make a difference?

After an inquest, a coroner has the legal power and duty to write a report if they believe that action should be taken to prevent future deaths.

Mediation is becoming an increasingly popular method of resolving commercial disputes. It’s quick, cost effective and keeps matters out of the court room.

Issue 1: How can the Healthcare Industry learn from incidents?

The report into the deaths of more than 450 patients at Gosport War Memorial Hospital between 1987 and 2001 has found “there was a disregard for human life and a culture of shortening the lives of a large number of patients by prescribing and administering ‘dangerous doses’ of a hazardous combination of medication not clinically indicated or justified.”

The construction industry is a well-known bellwether for the UK economy. Property, like retail and travel, takes an instant hit when economic sentiment takes a downturn; and can also be a marker for rising confidence too.

A profound shift in corporate risk management process and culture is needed as the nature of the risk threat shifts from the physical to the virtual.

In a notable sign of how quickly the risk landscape can change, the latest results from CNA Hardy’s biannual Risk and Confidence Survey have highlighted a significant shift in the perceived exposures facing UK and European multinational businesses. 

Business executives are underestimating supply chain and terror risks, writes CNA Hardy’s CEO Dave Brosnan, urging them to come out of the bunker. 

It’s difficult to think of a time when corporate and supply chain risks have been higher.

Head of Claims, Matt Bunting’s recent article in Insurance Day explains that while technology can offer improvements in claims handling efficiency, insurers need to make sure they put the policyholder’s needs first.

Supply chain management is a core skill for any business, especially one with a physical product.  It is complex and detailed work, and yet, in spite of this, chief executives rank it way down the list as a source of business risk.

Fire safety is of paramount importance for all businesses, which is why Stuart Kenyon and his team Risk Control team along with several Underwriters and a Risk Manager from one of our key brokers visited A&F Sprinklers in Rochdale, an LPCB 1048 listed sprinkler design and installation company.

Businesses are waking up to the twin threat of multi-country cyber risk and increasing regulation in the form of the GDPR – billed as the toughest data privacy laws on the planet.

Risk comes in many guises. Our tendency as an industry is to break it down into classes so we can understand and price it more effectively.  Omnipresent risks however, such as supply chain, cyber and corporate risk cross traditional classes and pose a significant threat to a company’s business reputation.

Dave Brosnan’s recent article in Insurance Day analyses the Risk & Confidence Survey Spring ’18 results in detail, including:

A combination of the shock UK election result, ongoing concerns over the progress of Brexit and a wave of physical and cyber terror attacks, have taken a dramatic toll on British businesses’ confidence levels.

Awareness of cyber risk is increasing, but some companies may be neglecting to prepare adequate response plans that could save them millions. In order to minimize the financial and reputational damage from a cyber attack, it is absolutely critical businesses have a cyber incident response plan.

According to our latest Risk and Confidence survey 71% of UK Multinational Construction companies are hiring new staff. This isn’t a surprise as the UK construction industry will need to recruit over 400,000 people each year until 2021 in order to successfully deliver housing targets and major infrastructure programmes.

Construction companies now find themselves trapped between a shrinking workforce and stagnant productivity due to the sector’s fragmented structure and a reluctance to invest in capital during the frequent downturns that afflict the industry, and there is a need for change.

We’re pleased to announce that Chris Thompson, Senior Underwriter for Life Sciences, has been selected for a Rising Star award from Reactions magazine.

Is your business handling any of the following materials in powder form: aluminium, coal, custard,magnesium, nylon, paper, polyethylene, polystyrene, sawdust or sugar? If so, are you aware of combustible dust hazards, especially the destructive nature of secondary dust explosions?

 For years now, manufacturers and retailers have been outsourcing to cut costs and improve efficiency. A whole industry has grown up to help them drive production, hone their supply chains, minimise lead times and ensure deliveries are just what they need, just in time.

This year marks the thirty year anniversary since the Piper Alpha Disaster. Like many I remember the incident vividly, and it is ultimately the catalyst for why I decided to pursue a Risk Control career. As well as being the worst offshore oil disaster in terms of financial loss, it is tragic, because of how preventable it was.

It has now been a year since the change in the Odgen/discount rate sent a shockwave around the insurance market, and the level of the reduction was unexpected and the impact substantial. The ABI estimated an increase of £7bn to historical claims and £1.4bn ongoing annually, and motor insurers were particularly impacted and acted immediately to increase premiums, but liability Insurers were more circumspect. 

Artificial Intelligence (AI) is leaping out of the pages of science fiction and into our daily lives at a rapid rate. Technology is transforming the way businesses operate, and many are looking to AI to support their change and growth plans.

Technology is considered a key swing factor of business success, but whilst businesses are investing heavily in tech their enthusiasm for its potential may be greater than their concern over the risks tech can bring with it. 

Despite the potential pitfalls of GDPR, new research shows that the UK is the most well prepared European country for GDPR, with 71% of organisations knowing about and/or are prepared for the changes.

It seems the spectre of the past has come back to haunt Intel as major security flaws were found in their processing chips which they have apparently known about for a significant amount of time. Whilst it appears the seriousness of the risks and damage has been recognised and is being resolved, the potential consequences could be massive. 

In order to better serve our customers in the southern regions we have created a dedicated new team; UK South. Simon Hodgin, our Regional Manager for the North, has transferred to London and will be leading the new team. His experience will ensure a smooth formation and ongoing operation of our UK South branch.

The shocking fall of construction giant Carillion from a major player in the UK’s construction market to liquidation was a shock for many, but what has come to light is that perhaps it shouldn’t have been. 

Brexit and terrorism may grab headlines, but boards shouldn't turn their attention away from corporate, compliance and supply chain risks, which are more likely to thwart their international ambitions. 

With temperatures expected to dip and bookies putting 2-1 odds on February being the coldest on record, many businesses could find themselves unprepared when normal winter weather suddenly turns extreme. 

If done well big data has the potential to revolutionise a business, but if not it could potentially be a waste of time, money and increase security and compliance risks, especially with the implementation of General Data Protection Regulation (GDPR). 

To help your client’s prepare for GDPR we have put together some expert tips from Nick Graf, our Consulting Director of Information Security at CNA. 

CNA Hardy teamed up with Strategic Risk Europe magazine to host a round table on A New Age of Risk Uncertainty. CEO Dave Brosnan and CUO Patrick Gage were joined by Paul Jack, Partner at Lockton; Ailsa King, the Chief Client Officer at Marsh; Steve Boaler, the Strategic Risk and Assurance Manager at Eversholt Rail Group and Adrian Clements, GM Operational Risk Management at ArcelorMittal.

People are the foundation and cornerstone of our business and retaining our talent is hugely important to us. Increased levels of unplanned turnover can be extremely disruptive and can be indicative of other underlying issues, which any business should seek to understand and where required, take action.  

Whilst Elon Musk (CEO of SpaceX, Tesla and OpenAI) claims we have only a 10% chance of making artificial intelligence (AI) safe, it is fair to say the progress of these systems is inevitable. Whether that is a good thing is still up for debate and there is certainly a lot of hyperbole around the subject; from claims that it will eradicate jobs to the human race itself. But what is the reality?

When preparing for potential cyber threats many businesses think about the systems in place but few consider the human element. Research indicates that about 90% of all cyber claims stemmed from some type of human error or behaviour.

Our Autumn 2017 Risk and Confidence survey has revealed that the confidence of British businesses’ has been knocked by a combination of the shock UK election result in June, and ongoing uncertainty over Brexit. 47% of business leaders state that Brexit has had a negative impact on their business and 31% claim the General Election result made them less confident in their ability to grow. 

CNA Hardy is delighted to announce that our Birmingham office  has won the West Midlands Insurer of the Year award.  

CNA Hardy was very proud to be one of the sponsors of the 2017 Dive In Festival that promotes and celebrates diversity and inclusion in the insurance industry. The Festival ran between 26^th – 28^th September in cities around the world, with 95 events attended by 7,856 members of the industry. 

We are proud to be part of the London Makes it Possible campaign, a joint campaign from the London Market Group to promote the market as a whole. 

Despite a diminishing level of confidence in the domestic UK economy, business leaders are bullish about continuing to deliver with 51% prioritising topline growth, according to our Autumn 2017 Risk and Confidence survey. 

Multinationals that have some form of operations within the EU will be majorly affected by the new General Data Protection Regulation, making it not too much of a surprise that almost 40% of multinationals saw regulatory risk as one of the biggest rising risks in our Risk and Confidence Survey.

With increased political uncertainty around the globe, including Brexit, it is no surprise that Multinationals are exercising caution around a number of risks. However one stands out more than others; Political environment risk; described as an unstable or unsupportive government, policy or political unrest. It is the biggest risk concerning multinationals today according to the results of our second Risk and Confidence survey. 

With Brexit, fluctuating exchange rates, an uncertain geo-political climate and a series of global cyber-attacks there’s no doubt multinationals have a lot to contend with. But what risks are multinationals most concerned about? 

Privacy and consent are two major areas that will be affected by GDPR, and will require an overhaul on the way many organisations obtain, collect and handle personal data. Dealing with these changes will involve much planning and the implementation of new systems if organisations do not wish to be caught short.

The GDPR enhances existing data subject rights provided under the EU Directive whilst also introduces new ones which will have large implications for business that gather or process personal data. These organisations will have new obligations under the GDPR and will have to take steps to protect and comply with these rights. 

While many of the GDPR’s predecessor the Data Protection Directive’s core principles and obligations remain unchanged under the GDPR, it does impose new and additional requirements. A new cornerstone of the GDPR is the obligation to not only comply with, but to also demonstrate this compliance. 

There is no question that the forthcoming General Data Protection Regulation (GDPR) will bring with it big changes to organisations; enhancing existing data subject rights provided under the current EU Data Protection Directive as well as introducing new ones. But change is not necessarily a bad thing, and GDPR should be viewed as an opportunity rather than something to be feared.

There has been much made of the future of Claims and the place of people and technology within it. In a world that’s increasingly tech reliant and online, are people still going to have a place in the claims process?

Insurance is one of the oldest industries in the world, and it's therefore up to a claims team to provide the service model that responds to today’s changing market need. We were delighted to be awarded The Gracechurch Consulting Outstanding Quality Marque for Mid-Market Claims Service, and for our speed of service, certainty and personal relationship building to be noted. 

As the story of Kanye West’s battle with Lloyd’s of London enters the media, the old cliché of the insurance industry being unwilling to pay claims is yet again revived. A Claims team will always be caught in the delicate balancing act of trying to help our clients but within the realms of the intent of the policy coverage, no matter the cost. 

There has been much made on the Insurance industry’s need to evolve recently. Whilst the scale of the issue is widely debated, it seems to be universally agreed that the Insurance industry needs to evolve to keep up with clients’ needs.

Brexit negotiations have remained complex since Article 50 was triggered on 29^th March, and will no doubt continue to be so with a non-majority Government in the negotiating seat and 40 years of trade deals and policy rulings to unpick, but what does all of this mean for businesses?

Lloyd’s of London has warned that a serious cyber-attack could cost the global economy more than £92bn. Yet despite mass cyber-attacks hitting organisations and headlines around the world, there is little evidence of this being a wake-up call to the risk posed by weak cyber-security.

There is a marked difference in how companies perceive how challenging the risk environment is based on their size, according to our Risk and Confidence survey. 

Why tech risk identification and management need to stay near the top of the Boardroom agenda

Uncertainty surrounds the future of employment laws and freedom of movement following the Brexit vote, and is compounded by a snap election where both major parties are pledging changes to workers’ rights in their manifesto. It’s therefore unsurprising that over a third of business leaders are proceeding with caution in hiring.

In a world that seems to be regularly turned upside down by political and policy changes, it would be unsurprising to find that companies were feeling the strain. Yet 71% of businesses report that they are confident or very confident about their ability to grow and prosper.

The spotlight is once again pointed at the tech world after the massive cyber-attack that hit 150 countries on Friday, affecting over 200,000 computers worldwide, and disrupting more than 60 NHS organisations across the UK.

There can be a disconnect between design professionals and their clients when it comes to the standard of care of a design professional.

Being a company director could be regarded as a high risk occupation, given the duties and responsibilities that come with the role.

At some point in all our lives we are likely to come across someone in the healthcare profession in their professional capacity.

The number of connected devices is set to exceed 50 billion by the year 2020, the Internet of Things (IoT) (basically the infrastructure of all connected devices in our everyday lives) represents a major transformation in a digital world that affects all of us.

Risk registers are an essential element of healthcare risk management. Here are some top tips to ensure organisations and their staff can maximise effective risk management.

Cyber-attack is one of the biggest threats to businesses, governments, and institutions today. More than 200 million personal records were exposed in data breaches in 2016; including high-profile breaches at the Department of Homeland Security and the Federal Bureau of Investigation (FBI).

Recent headlines question doctors' ability to cope with patient demand. With no indication that both the rate of patient demand and the pace of reform will slow, governing boards must do everything they can to foster a healthy environment at all levels.

Organisations around the world are taking more innovative approaches to managing threats in today’s digital era.

The following tips can help the boards of healthcare organisations improve accountability, efficiency and thus forge stronger alliances between governing board members and the clinicians working on the front line.

Despite the regulations and expert advice available on the topic of sustainability in the built environment, simple solutions that would quickly make projects more environmentally friendly are not being adopted.

Building a legal team
Since joining CNA Hardy eighteen months ago, Phillip has restructured and significantly expanded the size of his team.

Every year, thousands of workers are injured on the job. Last year, the five leading causes of work-place illness and injuries cost UK businesses more than £37 billion. Here are some top tips to identify and help mitigate those risks.

UK Manufacturing is currently enjoying a renaissance, however, in times like these it is important to remind ourselves that we need to be more vigilant than ever in avoiding any health and safety mistakes, which can not only devastate lives, but incur expensive costs to businesses.

Whilst the law on informed consent can be seen as complicated, the following tips can help clinical professionals in avoiding potential pitfalls.

The Duty of Candour legislation sets out the mandate for disclosure.  However, as has been demonstrated many times in the past, we need more than statutory requirements to change culture and attitude.

In a globalised world, Zika and other diseases pose a serious challenge. Read Caroline White's top tips on how Healthcare Risk Managers can pull everyone together to fight further spread.

Wild weather and water have finally dropped out of UK headlines.

With the summer of athletics upon us, it’s worth remembering that the London Games were a shining example of British planning and development teams pulling together on a huge scale. It’s a spirit that needs to be rekindled on future projects.

Watching the political fallout from the Brexit vote feels like an episode of House of Cards. So in light of this uncertainty what should we be doing to keep things of track for the construction industry?

As transport networks become more digital, operators become more exposed to data leaks. Last year, there were more than 1,500 data leaks, with transportation companies being one of the biggest sources.

We are all well aware of online piracy, but now, it seems even pirates at sea are getting involved.

Detecting and preventing insider errors is an ongoing battle for IT, HR, compliance and risk managers.

The Safety of Life at Sea (SOLAS) weight verification requirements are looming. Here are three essential tips for shippers to help prepare themselves to avoid costly fines, delays, or accidents.

Private equity and venture capital management teams face a broad range of potential liabilities when fulfilling their roles as directors of portfolio companies.

The asset management industry has come under increasing pressure in recent years from increasing regulation and the need to maintain up to date technology, while focusing on strict cost-control.

The significant growth in technology enabling telemedicine services is an exciting industry disruptor. In the UK, the NHS has announced a £4.2bn investment to digitise the health service, noting that while 84% of adults use the internet, only 2% transact digitally with the NHS.

NHS Trust Hospitals paid out more than £1bn to cover medical negligence claims in 2015. The growing bill for medical malpractice is a key issue for the global healthcare industry too, with the cost of payments running into the billions and expected to increase annually.

Having explored in detail the cyber risks all businesses face, I’m now focusing on a broader selection of risks facing a range of industries, including life sciences, healthcare financial institutions and manufacturing.