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Sharing economy: massive risk potential remains unrealised, Lloyd’s Report

The sharing of assets and services creates new opportunities but also new risks. It can be difficult for traditional insurance coverages to be applied to disruptive sharing economy models as assets are fragmented – owned and shared amongst users – and new multi-party relationships between platforms, providers and consumers draw further questions around who is ultimately responsible for managing and mitigating risk.

InsurTech M&As in Asia surge to US$460 million in 2017, three times that of 2016: Willis Study

Turning to specific markets, China and India, home to much of the innovation in InsurTech, accounted for a significant 73% of transactions in 2017. Hong Kong, Singapore and other Asia markets continued to build on the momentum from 2016 and accounted for 27% of the transactions, representing a much more conspicuous contribution than in 2015 when they only amounted to 4% of the regional sum.

Allegations against ICICI Bank pose reputational risks: Fitch

Analysts point out that ICICI Bank, India’s largest private sector bank has the Directors and officers(D&O) liability Insurance of substantial amount. The D&O policy provides cover for the personal liability of Directors and Officers arising due to wrongful acts in their managerial capacity. Defence costs are also covered and are payable in advance of final judgment.