India is estimated to account for one-sixth of global growth this...
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Tokio Marine Kiln appoints Cindy Gunawan as special risks underwriter in Asia Pacific
Gunawan's appointment is the latest for TMK Asia Pacific, as it...
Korean Re enhances risk analysis with Moody’s RMS Risk Models across Europe and Asia
Dr. Chun Baek, the head of Catastrophe Analytics at Korean Re,...
Ship insurance costs soar after Middle East tanker attacks
Oil tanker insurance costs to jump after Gulf attacks
The Joint War Committee, a group that advises insurers, designated the entire Persian Gulf and waters just outside it a so-called Listed Area after the incidents a month ago. The classification gives underwriters room to charge more. As of Thursday, owners were reluctant to send vessels to the region while there was also a dearth of cargoes, according to traders and shipbrokers involved in that market, who spoke on condition of anonymity.
ACORD launches solution to digitise insurance lifecycle End-To-End
“The market needs accelerators to help it gain cost savings and efficiencies. ACORD iConductor is a turn-key solution that helps realize these benefits by digitizing the whole insurance lifecycle to streamline, automate, and eliminate inefficiencies.This platform is designed and built to address the current and future scale of the insurance market, and because it’s owned and governed by the industry, its evolution will align with demand for standardized risk exchange,” said Bill Pieroni, President and Chief Executive Officer of ACORD.
Uber, Lyft appeal for deal on driver status as independent contractors
Faced with legislation in California that endangers their business model, Uber Technologies Inc. and Lyft Inc. are urging a compromise that would keep their drivers from being considered employees. “We can make independent work better if we update...
Uber to unveil next-generation Volvo self-driving car
In March 2018, authorities in Arizona suspended Uber’s ability to test its self-driving cars after one of its XC90 cars hit and killed a woman crossing the street at night in the Phoenix suburb of Tempe, Uber’s largest testing hub. The crash was the first death attributed to a self-driving vehicle.
Peak Re develops a new cancer multi-protection solution for Vietnam
It is part of the company’s strategy to support the evolving needs of the emerging middle class and address the protection gaps in emerging Asia.Peak Re plans to offer more solutions that boost affordable and simple insurance products in Asia beyond Vietnam, Peak Re is also actively engaging in developing customised solutions for different protection needs in other Asian markets, including China, India, Thailand, the Philippines and Cambodia.
Singapore’s new IP insurance initiative to support innovative enterprises enter global markets
In advanced economies such as the USA, more than 80 per cent of enterprise value of S&P 500 is already in the form of intangible assets. These trends are increasingly driven by Asian economies, with Asian IP filings growing at the compounded average growth rate of 12.7 percent from 2007 to 2017, twice as fast as the rest of the world.
Suspected attack on 2 oil tankers near Strait of Hormuz stokes fears of War
The prospects of a conflict have spiked since the Trump administration tightened in early May its sanctions on Iranian oil exports. Trump abandoned a year ago the 2015 deal that was meant to prevent Iran from developing a nuclear bomb and reimposed sanctions in a bid to force the Islamic Republic to rein in its military program and proxy militias. Facing economic catastrophe, Iran has threatened to retreat from the accord itself unless European parties throw it an economic lifeline.
Britain commits to net zero greenhouse gas emissions by 2050
Temperatures have already risen about one degree Celsius since pre-industrial times. Scientists warn further increases risk triggering tipping points that could render swathes of the globe uninhabitable, devastate farming and drown coastal cities.
EU says it’s ready for ‘Undesirable’ No-Deal Brexit, but some insurers are unprepared
The EU considers the Brexit deal, negotiated over 18 months, to be complete and not open to renegotiation. Departing Prime Minister Theresa May tried and failed three times to convince Parliament to approve it. The EU no-deal preparations are mainly unilateral measures. The bloc refuses to enter into “mini-deals” with the U.K. to help make no-deal Brexit easier.