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London PI rates and claims to rise, but market will remain optimistic – for now

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Insurers to continue to offer capacity despite expected uptick in professional indemnity claims
The London market for professional indemnity insurance will remain buoyant – at least for the medium-term. Despite the economic headwinds, rising inflation, and the likelihood that claims will increase, sentiment in the London PI market is optimistic as we head into 2023.
There will be an increase in both the frequency and severity of claims in the coming two years as economic conditions start to affect the professions and both cost and wage inflation have a material impact on the volume of claims made.
These macroeconomic challenges are naturally of concern for both professionals and their insurers and brokers. But, for UK professionals, the impact of this distress is likely to be less severe than that experienced during the 2008 global financial crisis.
Against this backdrop, rates for PI business will, on average, continue to harden during 2023, though at a slower pace than in 2022. And looking further into the future, insurer competition for good business will have the effect of dampening these rate increases and causing a plateau in a couple of years’ time.
While insurers are likely to reduce or restrict coverage for some specific perils over the next 12 months, many will increase their offering of standalone, affirmative coverage. This will enable buyers to, by and large, maintain their existing aggregate limits. Insurers report that they are still keen to commit capacity to this market segment and will retain their current levels of appetite or even increase it in the near future.
While claims will almost certainly increase over the coming year, insurers will maintain their appetites for London market PI, giving professionals some peace of mind for the potentially turbulent months ahead.

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Sales and Marketing Director (EMEA) – London

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We are working closely with a leading international publisher of licensed children’s books to recruit an experienced Sales and Marketing Director for EMEA. This is an integral leadership role responsible for some of the world’s most recognisable and prestigious book brands.
What it takes:

A demonstrable track record of building both sales and margin growth, with a commercially minded approach
Experience in successfully managing and motivating teams located across international borders
Extensive knowledge and understanding of the co-edition and rights markets in licensed and/or children’s publishing
A complete understanding, beyond sales headlines, of margins, cost management and budgeting
Being capable of creating and executing sales and marketing strategies
Thriving in fast-paced work environments and being able to manage multiple high priority projects simultaneously
A strong leading voice across sales strategy, market development and marketing activities
An agile and strong communicator both internally and with licensors
Extensive EMEA or directly relevant experience

The right person is comfortable as a leader, with commercial experience managing a team to deliver successful business units, going beyond just a ‘sales department’.
With flexible working options, a very competitive salary and bonus structure, this role offers incredible opportunities for an ambitious and proven sales leader.
At Wonderful Recruitment we provide opportunities for candidates to discover some of the most interesting and dynamic roles in the entertainment industry. For more information about this role please send your CV and salary expectations to Dean@wonderfulideasproject.com and Dan@wonderfulideasproject.com.
 

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Paris, Madrid, Barcelona among candidate cities to host ICE from 2025 – IAG

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Clarion Gaming, organizer of ICE London, says it has narrowed the shortlist of potential future hosts of the hugely popular industry trade show to four European cities, with its current London home joined by Barcelona and Madrid in Spain as well as Paris, France.
The decision to explore a potential move comes amid pressure from some industry representatives, with Clarion working alongside specialist consultants Equimore to establish the finalist shortlist. The successful candidate will be announced in 3Q23 following a competitive bidding process and will host ICE for a period of five years between 2025 and 2029.
“This robust process is customer-centric and the decision will be taken in the best interests of our stakeholders and of the global gaming industry,” said Alex Pratt, Group Managing Director of Clarion Gaming.
“iGB Affiliate London is very much part of the process and we are engaging with iGB Affiliate stakeholders in order to identify their preferred strategic path.
“The four short-listed cities will progress through a selection process with the help of the experienced and knowledgeable team at Equimore which is overseeing every aspect of what is a robust program.
“In addition to the suitability of locations in terms of capacity, facilities and the ability to accommodate projected future growth the process also encompasses dateline availability, transport connectivity with the rest of the world as well as the broader hospitality infrastructure including accommodation costs.
“By pursuing all due diligence we will identify the city that’s best equipped to not only host an event which continues to play such a central role in helping to create opportunity and prosperity for gaming businesses of all sizes, across every vertical and in every global jurisdiction, but also demonstrate its leadership in the sector.
“In the interests of transparency Clarion will not be making any further comment during the official process.”

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ICE London 2023 to feature exhibitors from record 68 nations – IAG

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Industry trade show ICE London will feature exhibitors from a record 68 nations, topping the previous best of 65 set three years ago, according to organizer Clarion Gaming.
ICE London returns as a full-sized show for the first time since 2020 from 7 to 9 February, with the total 623 exhibitors representing everything from Argentina to Australia and Macau to Mexico.
“No other exhibition in the gaming space can come anywhere near the internationalism of ICE,” said Clarion Gaming Managing Director, Stuart Hunter.
“To have 68 nations represented by our community of exhibitors means that visitors are immediately part of what is a global experience with unique access to the smartest gaming innovators drawn from every corner of the world. There are very few exhibitions of scale in any industry sector which are able to compare with such international representation and legitimately lay claim to being a ‘global’ or a ‘world’ event.
“Once an event is recognized as being genuinely international, stakeholder groups including brands, regulators, trade associations, media groups and strategic industry-wide bodies focus their activities accordingly.
“Research that we’ve undertaken has shown that for many people ICE and iGB Affiliate London actually start on the Sunday preceding and finish on the following Saturday. In that week we estimate that over 100 gambling industry events will take place outside of the show hours providing a new and compelling perspective on why ICE and iGB Affiliate London are so influential and important to the world industry.”
IAG will have a team of four at ICE London next week. Visit us at Stand ND7-C.

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