Companies will also have to describe periodically what efforts they...
Category:
International News
Latest
Airlines face doubling in war insurance premiums: Sources
Insurers are, as a result, weighing a potential doubling of the...
Japan’s population falls while foreign residents rise to record
The number of Japanese nationals fell for a 14th year, by about...
TMK launches Cyber Ctrl in Asia
The product covers a range of first party losses including business interruption and provides clients with crisis management support in the wake of a breach. Traditional liability covers to protect against breaches of third-party data are also included as standard
US equity outflows to cash, bonds biggest since 2008: Goldman Sachs
Just like this year, corporate demand will be the top source of US equity buying in 2020, Goldman projected. While buybacks may drop, net demand is still seen as strong thanks to diminished initial public offerings and a rise in cash-based mergers and acquisitions. Households and foreign investors will also be net buyers, while pension funds keep whittling down their allocation, as they have since 2009, Goldman said.
Hong Kong unrest insurance claims at around $77 mn
Unrest in Hong Kong has led to damages of various mainland China-linked entities, most notably local rail operator MTR and lenders such as Bank of China. The $77 million insurance claim surpassed the $41 million linked with the SAR (severe acute respiratory syndrome) epidemic in 2003, according to the Hong Kong Federation of Insurers.
EU nations agree Brexit delay until January 31 as PM Johnson seeks election
The latest delay plan envisages that Britain could be out on Dec. 1 or Jan. 1 should parliament ratify the agreement in November or December respectively, according to diplomats who deal with Brexit in Brussels.But in London, there was no consensus on an election which Johnson says is needed to break the deadlock.
Insurers start dropping fire coverage for California residents
“We are seeing an increasing trend across California where people at risk of wildfires are being non-renewed by their insurer,” state Insurance Commissioner Ricardo Lara said in a statement.The California Department of Insurance “has seen cases where homeowners were paying an annual premium of $800-$1,000 but, upon renewal, saw increases to as high as $2,500-$5,000,” a staggering rise of more than 300 percent in most cases.
Global insurers face quiet strain from hacker ransom demands
Cyber experts say the criminals launching ransomware against companies are organised gangs in Russia and eastern Europe, or hackers sponsored by foreign governments. Insurers sometimes have restrictions in their policies to avoid covering attacks by nations, but it can be difficult to know for sure what type of criminal is launching an attack.
$4.36 bn deployed in InsurTech cos across 239 transactions in first 3 qtrs
Dr Andrew Johnston, Global Head of InsurTech at Willis Re, says: “The continuing rise in InsurTech investment acknowledges the enormous role technology has to play in our industry, but we need to avoid becoming a sector jaded and frustrated by it. Today’s InsurTech is as much about hype and entrepreneurial culture as it is about appropriate technology for the (re)insurance industry.
Indonesia report on 737 MAX crash faults Boeing design, says Lion Air made mistakes
The manufacturer is facing nearly 100 lawsuits over the Ethiopian Airlines crash on March 10 which killed all 157 people on board the flight from Addis Ababa to Nairobi.
Half the world’s banks are too weak to survive a downturn: McKinsey
A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, McKinsey said in its annual review of the industry released Monday
Few Hong Kong firms have riot insurance so they’ll be paying for protest damages
Hong Kong is a lucrative market for global insurers including American International Group Inc., AXA SA and Zurich Insurance Group AG, with the value of premiums as a percentage of gross domestic product at 18.16%, second only to Taiwan in the Asia-Pacific region.