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.
European regulators need to overhaul their capital rules to free up insurers to invest more in climate-friendly infrastructure projects, the chief executive of German insurer Allianz said at a virtual meeting of the World Economic Forum discussing how to finance the low-carbon transition.
The CBIRC's changes to the solvency management of China's insurance sector are a positive step, particularly in the reinforcement of balance sheet strength and the development of enterprise risk management, says AM Best. The changes will go into effect 1 March.
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.
Global insurance brokerage, risk advisory and solutions company, Willis Towers Watson (WTW), has urged risk managers to respond to an evolving risk landscape prompted by climate change.
Insurers may raise rates to cover merchant ships passing through the Red Sea after a series of attacks on vessels around Saudi Arabian waters.
Sedgwick has released its Drive to Thrive in 2021 report highlighting this year's major insurance industry trends and issues that employers, brokers, carriers, risk management, and human resources professionals should focus on to remain steady amid the unstable environment.
A study conducted by Prudential Corporation Asia and the Economist Intelligence Unit (EIU) has found that digital health technologies offer an unprecedented opportunity to improve access to healthcare in Asia.
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.