Lego wins big copyright case in China

Lego wins big copyright case in China

Lego wins big copyright case in China

Danish toymaker Lego is celebrating the successful outcome of a copyright court case in China that could have repercussions for other international manufacturers that have struggled to protect their intellectual property (IP) from Chinese imitators. The decision, from a district court in Guangzhou Yuexiu, found that the four Chinese defendants had infringed Lego’s IP rights by copying the 3D artworks…

Parima pushes sustainability at Tokyo conference

Parima pushes sustainability at Tokyo conference

Parima pushes sustainability at Tokyo conference

Delegates at the recent Pan-Asia Risk and Insurance Management Association (Parima) conference in Tokyo heard from the high priest of a Buddhist temple, as part of the risk management association’s drive to promote corporate sustainability. Mr Kojo Morimoto, high priest of the Todai-ji Temple in the Japanese city of Nara, addressed how the temple, which has stood for more than…

Myanmar’s EU trade status at risk from genocide inquiry

Myanmar’s EU trade status at risk from genocide inquiry

Myanmar’s EU trade status at risk from genocide inquiry

The preferential trade status granted to Myanmar by the European Union (EU) could be at risk pending an investigation into allegations of genocide. Such a move could be a serious setback for any Myanmar-based corporates exporting or importing goods to or from the EU. Myanmar is one of several countries that are included in the EU’s Everything But Arms (EBA)…

AGCS bolsters ART business in Asia-Pacific

AGCS bolsters ART business in Asia-Pacific

AGCS bolsters ART business in Asia-Pacific

Allianz Global Corporate & Specialty (AGCS) is expanding its alternative risk transfer (ART) business with the launch of a new unit dedicated to Asia-Pacific. Former Marsh & McLennan managing director Richard Green will head up the new business. Mr Green has been based in Asia since 2005 and was previously regional head of ART and cyber insurance at Marsh, where…

RMS forecasts major catastrophes in Asia-Pacific

RMS forecasts major catastrophes in Asia-Pacific

RMS forecasts major catastrophes in Asia-Pacific

Risk modelling firm RMS has compiled a list of ten ‘one in a 100-year’ natural catastrophes that could hit the Asia-Pacific region, highlighting the region’s vulnerability to environmental disasters. The region has already suffered a number of catastrophes in 2018, including Typhoons Jebi and Mangkhut, and the Palu earthquake in Indonesia. However, RMS believes there is a likely expectation of…

Tokio Marine Kiln to close HK office

Tokio Marine Kiln to close HK office

Tokio Marine Kiln to close HK office

Tokio Marine Kiln (TMK) is to close its Hong Kong office with immediate effect, citing challenging market conditions for marine and cargo insurance. Meanwhile, fellow insurer Chubb is launching a cargo insurance product aimed at Hong Kong exporters and importers. Tokio Marine’s primary Asian base will now be in Singapore, with a supporting office in Shanghai. The Hong Kong office…

HK to open Belt and Road insurance exchange

HK to open Belt and Road insurance exchange

HK to open Belt and Road insurance exchange

Hong Kong’s insurance regulator has announced plans to open an insurance exchange dedicated to providing coverage for projects connected to China’s Belt and Road Initiative (BRI). The announcement was made at the annual global Brokerslink conference in Hong Kong by Clement Cheung, chief executive of Hong Kong’s Insurance Authority (IA). The Belt and Road Insurance Exchange Facilitation will launch in…

Asia suffers huge September cat losses but protection gap persists

Asia suffers huge September cat losses but protection gap persists

Asia suffers huge September cat losses but protection gap persists

September saw Asia suffer thousands of fatalities and billions of dollars in insurance losses in the costliest month of natural disasters so far in 2018. Yet despite the high number of claims, insured losses will be relatively lower than in the US despite more severe damage to property, more instances of business interruption and a significantly higher number of deaths.…

Artemis founder to join Peak Re

Artemis founder to join Peak Re

Artemis founder to join Peak Re

Hong Kong-based reinsurer Peak Re has recruited the founder of Artemis Specialty, an advisory firm for (re)insurers and insurtechs, to become its new chief operating officer (COO). David Cabral’s COO role at Peak Re will make him responsible for business process integration, promoting operational efficiency and driving technology strategy development. Mr Cabral boasts some enviable technology credentials as well as…

ArgoGlobal hires new APAC underwriting head

ArgoGlobal hires new APAC underwriting head

ArgoGlobal hires new APAC underwriting head

Specialty insurer ArgoGlobal has appointed Michael Scala as chief underwriting officer for Asia-Pacific. Mr Scala has more than 35 years’ experience in the insurance sector, half of which was with Australian insurer QBE. Starting as a commercial manager in Western Australia in 1994, he eventually became head of US P&C at QBE Insurance North America in 2010. He has been…