Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

The ongoing escalations between North Korea and the rest of the world took another step when the United Nations (UN) voted to impose further sanctions on the rogue nation after its sixth and largest nuclear test. The measures were voted for unanimously by the 15 states that sit on the UN Security Council (including Russia and China). As a result,…

South Asian flood disaster exposes the protection gap

South Asian flood disaster exposes the protection gap

South Asian flood disaster exposes the protection gap

The worst floods in South Asia in a decade have claimed more than 1,400 lives and left many more homeless across India, Nepal and Bangladesh. They have also further exposed the protection gap that exists in the region. While the Texas floods caused by Hurricane Harvey have grabbed most of the international headlines, and Typhoons Hato and Pakhar have caused…

Companies could count the cost of Taiwan’s anti-money laundering drive

Companies could count the cost of Taiwan’s anti-money laundering drive

Companies could count the cost of Taiwan’s anti-money laundering drive

Companies in Taiwan will be subject to new rules on anti-money laundering and cybersecurity, due to a series of measures undertaken by the Taiwanese government to improve its reputation as a jurisdiction for international business. In August 2016, state-run bank Mega Financial Holding was fined $180m by US authorities for its poor enforcement of anti-money laundering rules at its New…

North Korea tensions could escalate protectionism warn economists

North Korea tensions could escalate protectionism warn economists

North Korea tensions could escalate protectionism warn economists

The ongoing tension between North Korea, its neighbouring states and the US may well have the world’s population worried about nuclear war but it could also trigger an increase in aggressive protectionism in the region according to researchers from Wall Street bank Morgan Stanley. The tension was ratcheted up on Tuesday when North Korea fired a ballistic missile over Japan,…

Korean insurer introduces robo-tellers to its sales staff

Korean insurer introduces robo-tellers to its sales staff

Korean insurer introduces robo-tellers to its sales staff

South Korean insurer AIA Korea has teamed up with technology firm SK C&C to introduce what it claims is the first artificial intelligence (AI)-based customer support agent in the country’s insurance industry The AIA ON robo-tellers will be used in the insurer’s call centre as of 2018. While other insurers have employed AI-based chatbots to respond to customer queries, AIA…

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

Risk modelling and analytics firm RMS has expanded its portfolio of risk models with the addition of tropical cyclone and earthquake models covering Asia-Pacific. More specifically, the new models include typhoon models for South Korea and Taiwan, adding to existing ones for Japan and China, as well as earthquake models for Vietnam, Singapore, Malaysia and Thailand, which will not sit…

Asia operating three-speed insurance market: Allianz

Asia operating three-speed insurance market: Allianz

Asia operating three-speed insurance market: Allianz

Asia’s insurance market may have been growing at an average annual rate of 7.5% for the past nine years and its gross written premiums may account for 32% of total global premium income, but current premium growth rates are sharply divided within the region, according to a recently released report from global insurer Allianz. The report describes the region as…

Uphill struggle to reform South Korean insurance market, says Axco

Uphill struggle to reform South Korean insurance market, says Axco

Uphill struggle to reform South Korean insurance market, says Axco

The South Korean insurance market is in urgent need of modernisation, but the country’s new President Moon Jae-in will struggle to reform the local insurance market and open it up to foreign investment, according to Axco Insurance Information Services. Axco’s latest report on South Korea explains that the South Korean market is in urgent need of modernisation and greater adherence…

Increasing need for D&O insurance in Asia

Increasing need for D&O insurance in Asia

Increasing need for D&O insurance in Asia

In today’s increasingly litigious business environment, directors and officers face constantly evolving risks and liabilities from regulators and investors, not just in their home market but everywhere the company has operations. Senior leadership are now more likely to have a claim laid against them than ever before. This is becoming a major issue in Asia, where a heightened regulatory environment…

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