The ranking of pandemics and infectious diseases shot up to the top spot for 2020, with 56% of the over 2,700 risk experts surveyed naming it as a major emerging risk. In 2019, it was in eighth place, mentioned by only 23% of experts.
Forty-one percent of American adults feel that the COVID-19 pandemic has changed how their family handles finances and nearly one in four (22%) will consider increasing their life insurance coverage this year, according to a recent survey by disability income provider group Unum.
The capital base of the world's leading reinsurers has remained resilient, after a strong capital markets recovery in the second quarter of this year, says Aon's Reinsurance Aggregate (ARA) report. The capital has rebounded to 2019 levels.
The restructuring initiative marks the first revision of the 22-year-old scheme covering urban employees— one of the key pillars of the country’s state-backed social safety net. Changes discussed for more than a decade will alter how billions of yuan of contributions will be managed and spent.
Swiss Re recently listed four COVID-19 challenges impacting life insurers as in-person sales, complicated protection products, paramedical services and going paperless.
Charles Taylor Claims Services has launched a bespoke workers’ compensation claims solution, which comes ahead of Singapore’s revised Work Injury Compensation Act (WICA) coming into effect on January 01, 2021.
Recently, Lloyd’s of London published a report in collaboration with KPMG, titled ‘Protecting intangible assets: Preparing for a new reality,’ in which they urge businesses to pay attention to the new risk landscape that has evolved under COVID-19, and to factor intangible assets into their risk models.
New survey results released by Information Services Group (ISG) revealed that most insurers in Europe expect demand for digital products and services to increase significantly in response to the COVID-19 pandemic.
Specialist insurer Ecclesiastical has launched an online hub to help its education clients manage strategic and operational risks.
With corporate bonds constituting a majority of the insurance industry's assets, the balance sheets of insurers are now at risk due to recent coronavirus-induced macroeconomic uncertainty. This finding was revealed in a new AM Best special report titled 'Corporate bond holdings pose risk to insurers' balance sheets'.
