With more complex and high-risk decisions, directors and officers are more vulnerable to lawsuits, making D&O insurance a crucial tool for protecting both personal and corporate interests

"New blocks are growing and there are no accidents," sang a popular Polish T.Love band in the late 1990s. Although almost 30 years have passed since the song was released, and (traffic) accidents have unfortunately been increasing lately, new blocks of flats are still growing.

Storm Boris, which struck Central and Eastern Europe in September 2024, brought unprecedented flooding and devastation across multiple countries. The storm's impact on the insurance industry has been significant, with insured losses estimated between €3 billion and €5 billion.

On the occasion of the annual conference of IUMI (International Union of Marine Insurance) in 2024, which took place in Berlin, Pavel Kadlecik, Head of Transport Insurance at Colonnade Czech Republic, interviewed Uwe-Peter Schieder. Vice-Chairman of the Loss Prevention Committee and one of the important personalities of this worldwide organization.

In today's fast-paced technology sector, IT service providers face significant professional indemnity (PI) risks, also known as errors and omissions (E&O), that can threaten their financial stability and reputation. These challenges stem from complex integration projects, rapid technological advancements, strict deadlines, and complex client expectations.

The European Union's Network and Information Systems Directive (NIS2) has set a new standard in cybersecurity regulation, bringing significant changes to the responsibilities of both EU member states and private sector organizations. To achieve compliance, companies must not only adapt their cybersecurity protocols but also consider the role of insurance solutions.

The need to address climate change, growing global awareness, legislative changes, and, not least, the reduction in the costs of producing green energy have led to a dramatic rise in the use of renewable energy sources over the past decades.

The integration of renewable energy into the global energy mix is a vital step towards sustainability. However, the associated risks of BESS must be managed effectively to ensure safety and reliability. Colonnade's expertise in this field provides a crucial layer of protection, ensuring that BESS installations are safe and effective.

The Baltimore accident has garnered global media attention due to its scale and impact. However, it's crucial to remember that damage to transported goods is a daily occurrence, often caused by inclement weather or vehicle accidents. Insurers and brokers must therefore emphasize the specifics of liability in goods transport and provide clients with detailed information to help them accurately assess the risks involved. This ensures clients are well-informed and adequately protected through comprehensive cargo insurance solutions.

In recent years, the food industry has experienced a surge in significant losses due to fire incidents, impacting manufacturers ranging from meat processing plants to bakery product manufacturers.

Recent events, such as missile attacks by Yemeni rebels on ships in the Red Sea and protests by farmers in the Benelux countries and France, have highlighted the need for robust insurance coverage in the marine industry.

Colonnade Insurance stands as a guardian of the rEVolution, ensuring that the transition to electric vehicles is not only smooth but safe.