As Singapore aims to recover from the COVID-19 crisis, a report by Aon has noted an increase in shorter-term and micro-insurance products in the market, as a response to the current risk-averse environment.
Insurance and legal professionals expect to see an increasing number of run-off deals this year, according to a new report by Global Insurance Law Connect (GILC). The report looked into the drivers of legacy business in both mature and emerging markets, collecting data from member firms in 20 countries.
Another quarter brings another round of price increases for global commercial insurance. This time, prices jumped by 22% in Q4 of 2020, according to Marsh’s “Global Insurance Market Index.” The latest increase is the largest since the index was launched in 2012, and it comes on the back of year-on-year average increases of 20% in the third quarter and 19% in the second quarter of 2020.
Singapore’s small and medium enterprises (SMEs) are expecting to lean heavily on government support in 2021 to weather the economic downturn caused by the COVID-19 pandemic, according to a survey by QBE Insurance.
Research conducted by GlobalData shows that the liability insurance industry in Asia-Pacific is expected to grow at a compound annual growth rate (CAGR) of 3.8%, from US$28.8 billion in 2019 to US$33.4 billion in 2023, in terms of written premiums.
Insurers may raise rates to cover merchant ships passing through the Red Sea after a series of attacks on vessels around Saudi Arabian waters.
While many have celebrated the start of the New Year filled with hope, one expert believes that 2021 will be difficult for directors, officers, and their advisers due to a projected increase in insolvency claims against them.
Speed of process is the biggest challenge facing marine insurance claims managers, according to new research from Marine Judge, an AI-driven marine insurance platform.
The global insurance protection gap (IPG) for the total market (life and non-life) has risen to $5.78tn- 70.8% in the life segment and 29.2% for the non-life segment - according to the updated edition of MAPFRE Global Insurance Potential Index (MAPFRE GIP) 2020.
HX, the data and analytics division of Howden Group Holdings, has announced the release of its Q3 2020 insurance sector earnings update, focusing on COVID-19, capital, catastrophes, and pricing.