HDI appoints crisis management chief

HDI appoints crisis management chief

HDI appoints crisis management chief

Karina Rodriguez Diaz has been recruited by corporate insurer HDI Global to lead its crisis management practice in Australasia. Ms Rodriguez Diaz has worked in a number of positions during a 12-year career, specialising in crisis management. Prior to her latest role, she was placement manager for crisis management at Aon Australia. Before taking up the position at Aon, Ms…

Tokio Marine Kiln to offer insurance for drone testing

Tokio Marine Kiln to offer insurance for drone testing

Tokio Marine Kiln to offer insurance for drone testing

Japan-based speciality insurer Tokio Marine Kiln (TMK) is to provide insurance for the testing of drone-based services. The policy, which will be launched in mid-May, will offer cover against damages or accidents incurred during the testing of commercial services employing drones or other unmanned aerial systems (UAS) – most notably for parcel deliveries. According to the insurer, the new product…

APAC companies top the charts for risk preparedness: Aon survey

APAC companies top the charts for risk preparedness: Aon survey

APAC companies top the charts for risk preparedness: Aon survey

Global companies’ preparedness for the top 10 risks they face has deteriorated and risk readiness of global firms is at an all-time low, according to Aon’s 2017 Global Risk Management Survey. Global preparedness for the top 10 risks fell from 58% in 2015 to 53% in 2017. Aon said the findings are “worrisome”, particularly given that this year’s report surveyed…

Lloyd’s targets Asia for cyber insurance demand

Lloyd’s targets Asia for cyber insurance demand

Lloyd’s targets Asia for cyber insurance demand

Lloyd’s CEO Inga Beale anticipates a “massive increase” in cyber insurance business across Asia this year. Lloyd’s currently has a 25% share of the global cyber insurance market, with the majority of it written in the US and a growing amount in Europe. In both cases, a big driver of adoption has been regulation – more specifically the requirement to…

Lloyd’s opens in India as results suggest tough renewals ahead for risk managers

Lloyd’s opens in India as results suggest tough renewals ahead for risk managers

Lloyd’s opens in India as results suggest tough renewals ahead for risk managers

Lloyd’s has officially opened its India branch and welcomed MS Amlin as its first underwriting syndicate. The ceremony, which took place on 1 April, was witnessed by UK Chancellor Phillip Hammond and Lloyd’s chairman John Nelson. The new branch, which will act as the domestic reinsurance branch for India, will “help Indian insurance firms increase the resilience of the Indian economy…

Singapore insurance sector posts lower profits as competition intensifies

Singapore insurance sector posts lower profits as competition intensifies

Singapore insurance sector posts lower profits as competition intensifies

Intense competition in a mature and competitive economy meant that Singapore’s non-life insurance sector posted premiums slightly up but reduced profits for 2016, according to the General Insurance Association of Singapore (GIA). The outlook is slower economic growth and even higher competition, so the industry must focus on raising standards and improving operational efficiency, said the association. “On the industry…

Seize the day – Parima interview

Seize the day – Parima interview

Seize the day – Parima interview

The current era of uncertainty is a great opportunity for Parima and its members to seize the initiative and demonstrate the worth of risk managers. 2017 has begun at a breakneck pace for the risk management community, including the Pan Asian Risk and Insurance Management Association (Parima). The association’s annual congress in Singapore in late November came in the wake…

Chinese regulator reveals big social plans for 2017

Chinese regulator reveals big social plans for 2017

Chinese regulator reveals big social plans for 2017

The China Insurance Regulatory Commission (CIRC) has laid out its big plans for the year and says it will focus on finance and taxation, internet finance, medical sports, agriculture and water conservation among other matters. The supervisor plans to accelerate its strategy of promoting the growth of private medical insurance to support the state system. CIRC says that it will…

ICMIF to launch mutual microinsurance scheme with India’s DHAN foundation

ICMIF to launch mutual microinsurance scheme with India’s DHAN foundation

ICMIF to launch mutual microinsurance scheme with India’s DHAN foundation

The International Cooperative and Mutual Insurance Federation (ICMIF) has announced that it will work with the Development of Humane Action (DHAN) Foundation in India, in an effort to supply an additional 1.17 million people from low income communities with its mutual life, health, crop and livestock products during the next five years. This work forms part of Phase II of…

Sompo develops online reputation insurance for corporates

Sompo develops online reputation insurance for corporates

Sompo develops online reputation insurance for corporates

Japanese insurer Sompo has launched a new insurance policy designed to protect a business from online attacks on its reputation, otherwise known as ‘enjo’. The practice, also known varyingly as flaming or doxing, refers to mass, sustained attacks via social media or the flooding of websites with negative comments. Typically, these attacks emanate from the fans of celebrities maligned by…

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