Local CEOs promote risk management at Parima’s Manila conference

Local CEOs promote risk management at Parima’s Manila conference

Local CEOs promote risk management at Parima’s Manila conference

The chief executives of two prominent Philippines corporates were the star speakers at the recent Pan-Asia Risk and Insurance Management Association (Parima) conference – the first to be held in the Philippines. Jaime Augusto Zobel de Ayala, chairman and chief executive of Ayala Group, the country’s oldest conglomerate, spoke about the importance of risk management in order to navigate the…

Brexit should have minimal impact on insurance buyers says Airmic

Brexit should have minimal impact on insurance buyers says Airmic

Brexit should have minimal impact on insurance buyers says Airmic

As the UK triggers the process of leaving the EU, its insurance and risk management association Airmic has said there should be only a minimal impact on insurance buyers. The UK fired the starting gun on the Brexit process this week, triggering Article 50 of the Lisbon Treaty by notifying the EU of its intent to leave. While not catastrophic,…

NZ: New AML law sparks privacy concerns

NZ: New AML law sparks privacy concerns

NZ: New AML law sparks privacy concerns

Banks in New Zealand will be obliged to disclose details of any international transactions over NZ$1,000 and domestic cash deals over NZ$10,000, as part of efforts to combat terrorism financing. But the new anti-money laundering (AML) rules, which are due to take effect in November, have alerted privacy specialists concerned that the new disclosure regime may give banks a delicate…

Tesco to take £235m hit for accounting scandal

Tesco to take £235m hit for accounting scandal

Tesco to take £235m hit for accounting scandal

Tesco has reached an agreement in principle with UK authorities that would see the retailer pay a £129m fine and take a total £235m hit for false accounting. Tesco PLC announced today that its subsidiary, Tesco Stores Ltd, has agreed a Deferred Prosecution Agreement (DPA) with the Serious Fraud Office (SFO) over dubious accounting practices between February 2014 and September…

Data analytics promises tighter risk management: Insurance Europe

Data analytics promises tighter risk management: Insurance Europe

Data analytics promises tighter risk management: Insurance Europe

Wider use of big data analytics offers clear benefits to risk management and ultimately insurance buyers, according to Insurance Europe. In response to a consultation from the European Supervisory Authority (ESA), Insurance Europe said big data analytics in insurance could drive new products and improve affordability and insurability for consumers, while enhancing internal models. Insurance Europe also assured ESA that…

Ogden rate change could triple personal injury claims: Marsh

Ogden rate change could triple personal injury claims: Marsh

Ogden rate change could triple personal injury claims: Marsh

Companies that face increased costs following the new discount rate for personal injury claims introduced by the UK government last week must take steps to quantify and mitigate their risks with claims potentially set to triple, according to a new client guide from Marsh. The new Ogden rate of 0.75%, down from 2.5%, is likely to raise lump-sum compensation for…

THB industrial cyber risk package includes alternative firewall technology

THB industrial cyber risk package includes alternative firewall technology

THB industrial cyber risk package includes alternative firewall technology

A cyber security protection package for industrial businesses has been launched by a partnership comprising broker THB in conjunction with London market insurer CNA Hardy and cybersecurity specialist Waterfall Security Solutions. Traditional cybersecurity solutions, such as firewalls and intrusion detection solutions, are failing to provide sufficient protection for industrial control systems, according to the trio. Waterfall’s proprietary Unidirectional Security Gateway…

CEO outlines Kenya banking challenges

CEO outlines Kenya banking challenges

CEO outlines Kenya banking challenges

Kenya’s banking industry is still paying the price resulting from the receivership of three banks in late 2015 and early 2016, as panic withdrawals and negative reputation resulted in lower liquidity in the industry, the chief executive of Kenya’s largest bank by customer base, Equity Bank’s James Mwangi, has said. Chase Bank, Dubai Bank and Imperial Bank were placed under…

Kenyans move most money digitally as early adopters of technology

Kenyans move most money digitally as early adopters of technology

Kenyans move most money digitally as early adopters of technology

The Kenyan diaspora is the biggest sender of digital remittances to mobile accounts, according to WorldRemit which released new data to mark the 10th anniversary of Mpesa. Transfers to mobile money accounts make up 93% of WorldRemit transactions to Kenya now – showing that Kenyans continue to be early adopters of innovative technology, even when abroad. Mobile money has played a…

1 2 3 207