The dilemma of genetic testing in insurance
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.
World Bank pandemic bond losing value
A World Bank bond designed to deliver funding to help the world’s poorest countries to tackle fast-spreading diseases has lost half its value as the coronavirus outbreak in China has fanned fears that investors could face hefty losses
Cyber risks can impact firms from unexpected angles
A new report from Aon warns organisations that cyber risks can come from any digital channel – even those channels considered “less appreciated.”
China gives firms concessions to deal with outbreak
China has reduced several pension and insurance fees in order to help businesses cope with the coronavirus (COVID-19) outbreak.
Estimated event cancellation losses from Coronavirus
Losses to event cancellation insurers are already likely to be more than $100m, although not all event organisers buy epidemic cover, reported Reuters, citing Mr Tim Thornhill, director, sales in entertainment and sport at Lloyd's of London broker Tysers.
Coronavirus could infect two-thirds of world population
As the number of coronavirus cases jumps dramatically in China, a top infectious-disease scientist warns that things could get far worse: Two-thirds of the world’s population could catch it.
Life insurers should stress test risk of pandemics
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.
Insurance rallies to prepare for Coronavirus escalation
Outside of mainland China and the ill-fated cruise ship, Singapore and Hong Kong have the highest incidence of coronavirus infections. Singapore had 50 confirmed cases and Hong Kong 50 confirmed cases and one death at time of writing.
Insurers & brokers need more than traditional underwriting
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.
Boom of online insurance and healthcare services
Amidst all the mass hysteria surrounding the coronavirus outbreak, people in affected Asian countries seem to be avoiding face-to-face interactions and staying indoors as much as possible. This has led to many venturing online to seek services from digital insurers and telehealth service providers.
China lowers life premiums amid virus outbreak
The China Banking and Insurance Regulatory Commission (CBIRC) has issued new rules that seek to lower life insurance premiums, as the coronavirus infection continues to spread across the country and its neighbours.
Virus outbreak puts insurers under the microscope
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 at higher levels of risk in Coronavirus outbreak
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.
IAIS adopts global frameworks for insurance supervision
The International Association of Insurance Supervisors (IAIS) adopted a comprehensive set of reforms that will enable effective cross-border supervision of insurance groups and contribute to global financial stability.
Gallagher takes full ownership of London reinsurance broker
Arthur J. Gallagher & Co. has increased its stake in London-based Capsicum Reinsurance Brokers LLP to 100% from 33%, the U.S brokerage announced Monday.