International News

Insurtech:Number of insurance patents filed jumps 40% in a year

  Investment in insurtech is being stepped up, as the number of insurance-related patents filed worldwide jumped 40% last year, to 917 in 2017 (to Dec 31) from 657* in 2016.   RPC adds that insurance patent filings per annum have jumped by 116% over 5 years...

Italy's Generali to stop insuring new coal plants

  MILAN: Italy’s biggest insurer Generali said on Friday it would stop offering insurance coverage for new coal mines and plants, marking a step up in the company’s support for green policies.   Generali’s action, which comes ahead of a United Nations climate change conference in Poland...

Standard Club Asia and Ping An P&C Insurance collaborate to underwrite P&I risks in China

Non Life-News, Reinsurance       Nov 09, 2018

  Singapore: The Standard Club Asia Ltd and Ping An Property & Casualty Insurance Company of China, Ltd collaborate to underwrite P&I risks fo  world’s second-largest ship owning country The Standard Club Asia Ltd (“Standard Asia”), managed by Charles Taylor Mutual Management (Asia) Pte Ltd, yesterday...

Google hears protesters, changes sexual harassment policies

Risk Management       Nov 09, 2018

  Alphabet Inc's Google said on Thursday it would change the way it handles sexual harassment claims, a week after 20,000 of its workers around the world walked off their jobs to protest its response to such issues.   Arbitration will become optional for individual sexual harassment...

Chinese big data industry boosts futuristic start-ups

Economy, Technology       Nov 19, 2018

  Guiyang(China): A self-driving car that turns the coffee machine on as you get home, a vending machine that scans prescriptions to dispense drugs, a 'judiciary assistant' that can help predict the outcome of a court case -- these are few of the 'smart' ideas taking...

Superbugs to 'kill millions' by 2050 unless countries act

Economy, Health       Nov 08, 2018

  Paris: Millions of people in Europe, North America and Australia will die from superbug infections unless countries prioritise fighting the growing threat posed by bacteria immune to most known drugs, experts predicted on Wednesday (Nov 7).   The Organisation for Economic Co-operation and Development (OECD) warned...

Hurricane Michael to hit US economy by $15bn: Aon

Non Life-News, Reinsurance, Risk Management       Nov 08, 2018

                                        CHICAGO:  A report by Aon’s Impact Forecasting team today evaluating the impact of the natural disaster events that occurred worldwide during October 2018, etimates the total economic losses from Hurricane Michael – including physical damage and net loss business interruption – to exceed USD15 billion,...

Insurers rank Amazon as the world’s most potentially disruptive platform

Economy, Intermediaries       Nov 07, 2018

 Amazon is the platform most likely to cause widespread disruption to Europe’s general insurance market over the next five years, a survey of insurers has found. Insurers rank Amazon as the world’s most potentially disruptive platform,   In an article, ``The Actuary'', The magazine of the...

China’s Biggest Insurer, Ping An, Plans $2B IPO of Health Tech Unit

Health, Technology       Nov 01, 2018

  Hong Kong: Ping An Insurance Group Co., China’s biggest insurer by market value, is planning a Hong Kong initial public offering of its health-care technology unit that could raise about $2 billion, people with knowledge of the matter said.   A listing of Ping An Healthcare...