The role for international programmes post-pandemic

The role for international programmes post-pandemic

The role for international programmes post-pandemic

The use of global programmes could actually increase as a result of the Covid-19 pandemic, according to experts from Zurich Insurance Group. IPN spoke to a small group of them, ahead of Commercial Risk’s two-day Global Programmes Europe conference (29-30 September). Q: Will the pandemic end the inclusion of employee benefits in global programmes or accelerate it?

Acting alone, or working together?

Acting alone, or working together?

Acting alone, or working together?

In many ways, the pandemic has accelerated isolationist policies, as governments close their borders to even their friendliest neighbours. The question for managers of global programmes is whether this trend is simply a blip or whether it is a sign of things to come in the regulatory space. Liz Booth hears the views of a number of experts. There has…

Rates to continue upwards

Rates to continue upwards

Rates to continue upwards

It seems that even a pandemic will not be sufficient to stop the insurance market in its determination to drive up rates and create more sustainability in its portfolios, as Liz Booth discovers. Rates are continuing the upward rise started in 2019, market experts confirm. Considering whether a recent dramatic hardening in directors and officers (D&O) cover and reducing capacity…

New reinsurer launches for African business

New reinsurer launches for African business

New reinsurer launches for African business

Africa Specialty Risk Group (ASR) has been launched to serve African insurance markets. Launched by Helios Investment Partners in partnership with Mikir Shah, former CEO of AXA Africa Specialty Risks, and Bryan Howett, former CEO of Old Mutual’s pan-African reinsurance operations, ASR aims to become the partner of choice for corporations, through the provision of comprehensive and bespoke risk-mitigating insurance…

Cyberattacks skyrocket across Africa during pandemic

Cyberattacks skyrocket across Africa during pandemic

Cyberattacks skyrocket across Africa during pandemic

Some 28 million malware attacks and 102 million detections of potentially unwanted programs (pornware, adware and others) have been found across Africa in the first seven months of 2020. Kaspersky security solutions reported: “These numbers show that it’s not only the malware that attacks users but also the ‘grey zone’ programs that grow in popularity and disturb their experiences, while…

Rates continue to harden as pandemic rolls on

Rates continue to harden as pandemic rolls on

Rates continue to harden as pandemic rolls on

Liz Booth reports on the impact of Covid-19 on global programmes. But, as she explores, it is the hardening insurance market that potentially will have the greatest impact Insurers have faced myriad claims related to the Covid-19 pandemic – claims that have varied to reflect local lockdowns and economic woes. However, as Ayleen Frete, head of multinational, regional unit London…

South African regulator studying UK court ruling on business interruption

South African regulator studying UK court ruling on business interruption

South African regulator studying UK court ruling on business interruption

South Africa’s Financial Sector Conduct Authority (FSCA) is studying the UK court ruling on business interruption (BI) policy wordings, in which the UK decided some 370,000 policyholders were entitled to claim payments. Claims will depend on the precise wording of each policy, but the UK ruling gave clarity as to how BI policies should work in the Covid-19 environment. The…

Data key to African insurers’ sustainability

Data key to African insurers’ sustainability

Data key to African insurers’ sustainability

Data and the use of information will be critical for insurers’ sustainability, delegates at a recent webinar heard. Zep Re held its annual regulators forum virtually this year, attracting regulators from across east Africa. Hope Muera, CEO of Zep Re, said: “Zep Re is a firm believer that there is strength in numbers and the notion that we learn more…

Kenyan companies warned that banks are preparing for bad loans

Kenyan companies warned that banks are preparing for bad loans

Kenyan companies warned that banks are preparing for bad loans

Company defaults on debt are expected to surge in Kenya as the Covid-19 pandemic hits the east African economy hard. In reaction, Kenya’s top eight banks are increasing their loan loss provision by almost four times in the first half of 2020 as they seek to erect a strong buffer against a possible surge in bad loans. The government, together…

Covid-19: South African risks and opportunities

Covid-19: South African risks and opportunities

Covid-19: South African risks and opportunities

“Never let a good crisis go to waste,” said Rahm Emanuel during the 2008 global financial crisis. “This catchphrase has been reprised by many who remain optimistic despite the current challenges we find ourselves in,” noted Mighty Mhlanga, Institute of Risk Management South Africa member. “The current landscape presents one of the most perplexing and difficult environments for individuals, business…

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