The COVID-19 outbreak is expected to have a 'significant impact' on the marine insurance market as the volume of cargo shipments within Asia and across the globe reduces drastically, IUMI's chairman of the ocean hull committee Rama Chandran told Asia Insurance Review.
The World Health Organisation has declared the novel coronavirus a public health emergency of international concern, businesses need to be prepared for the outbreak’s possible effects. Insurance broker and risk advisor Marsh has released a plan to help businesses deal with the global coronavirus outbreak.
Genetic testing can be a powerful tool for insurers - potentially allowing them to price risk better. But it also carries with it some potential risks, if applied indiscriminately.
A new report from Aon warns organisations that cyber risks can come from any digital channel – even those channels considered “less appreciated.”
The 2019 Novel Coronavirus is a timely reminder for life insurers to stress test their balance sheets in in the event of a pandemic outbreak.
When dealing with new and less-understood risks such as cyber, many brokers and risk managers have their work cut out for them. When up against a risk that often involves sophisticated technology, expanding beyond traditional methods is a must.
As multiple countries grapple with the novel coronavirus infection, individuals and organisations are scrutinising their insurance policies to see if they are covering the losses caused by the epidemic. On the ground, several insurers have also launched efforts to support the fight against the infection.
Reinsurers may face higher levels of risk than life and health (L/H) insurers in the current coronavirus outbreak, as the risk profiles of the former entail higher exposures to mortality and morbidity risks, says AM Best.