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Employee medical plan costs: Aon forecasts 11.1% increase for businesses in Asia Pacific
"The high medical trend rate can also be attributed to a higher...
Climate Risk: Is India Inc moving fast enough?
From a disaster management perspective, parametric solutions can...
Clarity Over Coverage is Critical as COVID-19 Casts a Shadow over Jan Renewals
The biggest challenge at this renewal, however, is undoubtedly exclusionary language and clarity of wordings related to COVID-19 – particularly loss occurrence clauses and, where relevant, claim payments or claims validity.
A better tomorrow won’t fix India’s broken today
About 10% of Modi’s financial incentives are earmarked for drugmakers. That’s just as well. Being able to supply a Covid vaccine to its own population and to other developing countries could give its manufacturing sector and the broader economy a confidence boost.
Bumper harvests, healthy stockpiles but coronavirus world is undernourished
More worrying is that while food production and stocks have remained sufficient, household budgets haven’t. Even before the pandemic, the world was hungry. A report published in July by the United Nations’s Food and Agriculture Organization and others estimated almost 690 million people were underfed in 2019 — up by 10 million from the previous year, and by nearly 60 million in five years. Close to 750 million of us, or nearly one in 10, didn’t have reliable access to sustenance.
Without us even realising it, Google has occupied every nook and cranny of our existence
Google’s prevalence has brought the company to a critical point. On Tuesday, the Justice Department sued it for anticompetitive practices, in the most significant antitrust action by the U.S. government against a technology company in decades. The government’s case focused on Google’s search and how it appeared to create a monopoly through exclusive business contracts and agreements that locked out rivals.
Risk Management: COVID-19 spurs collaboration and innovation
Risk management and transfer has always been about collaboration between client, broker and insurance carrier to find the most suitable solutions for risk problems. Without a doubt, the COVID-19 pandemic has forced us all to find different ways to do that – with the opportunity for face-to-face brainstorming put on hold, we need to find other ways to continue to innovate.
Plastic pandemic: COVID-19 trashed the recycling dream
Plastic, most of which does not decompose, is a significant driver of climate change.
The manufacture of four plastic bottles alone releases the equivalent greenhouse gas emissions of driving one mile in a car, according to the World Economic Forum, based on a study by the drinks industry. The United States burns six times more plastic than it recycles, according to research in April 2019 by Jan Dell, a chemical engineer and former vice chair of the U.S. Federal climate committee.
New Reality: Securing “Intangible Assets”
Advancements in cyber-attacks and corporate espionage, along with increasing uncertainty in the business environment have pushed many organisations towards introducing stricter processes to protect confidential and proprietary intangible assets from threats such as intellectual property trademark and copyright infringements, data piracy and appropriation of trade secrets.
Many organizations’ approach their reputation challenges in a reactive way after an adverse event occurs. However, it’s important to understand that risk management depends on proactive reputation management. Negative publicity stemming from mismanagement or inadequate preparation can cause significant reputational damage.
Indian Insurance Market – Is the Hubris Over
A reality check on the market developments during the last two decades since the sector was liberalised for the participation of private sector and foreign players, clearly indicates an imminent shake- out is inevitable in the Indian insurance industry
Learned from COVID-19 Pandemic to mitigate the risks of Climate Change?
The work to promote resiliency in the face of climate change must be collective in nature, with the insurance industry having an important role to play. Better risk transfer solutions and a higher take-up rate of insurance across communities means a faster recovery. The insurance industry has an advanced understanding of climate risk and extreme events, and its modelling, analyzing and forecasting capabilities offer vital insights to other participants in the resilience ecosystem, helping them better comprehend the risks, identify potential weaknesses and plot a course toward prevention.
COVID-19 accelerates global supply chain restructuring:Swiss Re
The sigma report estimates the overall income effect from the higher growth created by supply chain restructuring will generate additional global premium volumes of around USD 63 billion cumulatively during the five-year transition period. This includes a one-time boost of USD 1.2 billion arising out of new demand for engineering covers during the construction phase of manufacturing facilities and associated infrastructure, and USD 9 billion for commercial insurance in the operational phase of the new facilities.