Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

The Pan-Asia Risk & Insurance Management Association (Parima) is this week supporting an event focused on employee benefits for risk managers in Beijing, organised by MAXIS Global Benefits Network (Maxis GBN) and its local partner ICBC AXA. Risk and insurance managers in Europe and North America are becoming increasingly involved in the management and transfer of employee benefits, as multinationals…

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

ILS market could be ‘critical enabler’ for emerging risks, claims Singapore regulator

The insurance-linked securities (ILS) market is willing and able to pick up significant gaps in cyber and terrorism cover as traditional insurers seek to limit their exposure and, for Asian companies at least, Singapore is the place to go to investigate this potential, according to Gillian Tan, executive director of the Monetary Authority of Singapore (MAS). Singapore enacted rules two…

Test the strength of the fintech bridge before you cross: Lagarde

Test the strength of the fintech bridge before you cross: Lagarde

Test the strength of the fintech bridge before you cross: Lagarde

Fintech theoretically offers huge opportunities for the insurance and wider financial services sector to open up its products and services to a far broader spectrum of society, at a lower price than currently available. But the rise of fintech, including insurtech, also carries significant risks – not least concentration risk as the big tech giants move into the financial sector.…

Allianz forecasts rebound for Asia’s insurance markets

Allianz forecasts rebound for Asia’s insurance markets

Allianz forecasts rebound for Asia’s insurance markets

Following a disappointing 2018, Allianz is predicting that Asia’s insurance market will rebound in 2019 and be a primary driver of global insurance growth over the next decade. Industry projections have repeatedly forecast a strong improvement in Asia’s insurance industry given the strong growth rates of many of its economies and the relatively low level of insurance penetration to date.…

HK investor sues robo-adviser in potential landmark case about AI liability

HK investor sues robo-adviser in potential landmark case about AI liability

HK investor sues robo-adviser in potential landmark case about AI liability

A proposed legal case in Hong Kong could give a significant insight into one of the most debated issues around liability – namely, who do you blame when a robot goes wrong? Hong Kong investor Samathur Li Kin-kan is suing Italian fund manager Raffaele Costa over losses incurred through the latter’s robo-advisory service, where investment decisions are made entirely through…

Markel appoints strategy head for Asia

Markel appoints strategy head for Asia

Markel appoints strategy head for Asia

Specialty insurer Markel International has hired Christian Stobbs as strategy director for Asia. Based in Singapore, Mr Stobbs will be responsible for leading and developing the insurer’s strategic priorities in the region. These include building on Markel’s existing presence in Singapore, India, China and Malaysia by deepening its links with local insurers and distributors, as well as developing new products…

AGCS launches product recall for emerging automotive risks

AGCS launches product recall for emerging automotive risks

AGCS launches product recall for emerging automotive risks

Allianz Global Corporate & Specialty (AGCS) has launched product recall cover for UK manufacturers of automotive component parts, although the company said it will expand to other markets including North America and Asia in due course. AGCS said the product would cover buyers for expenses linked to a recall – including repair, replacement and legal defence costs – as well…

CyberScout announces new cyber insurance distribution model in SE Asia

CyberScout announces new cyber insurance distribution model in SE Asia

CyberScout announces new cyber insurance distribution model in SE Asia

Cybersecurity firm CyberScout has announced two new partnerships with insurers, which it claims will help form a new model for the distribution of cyber insurance for small and medium-size businesses (SMEs) in southeast Asia. The two insurers, Philippines-based Pioneer Insurance and Surety and Taiwan’s MSIG Mingtai, have struck an agreement whereby CyberScout’s cyber services will be incorporated into the respective…

Hong Kong’s Jing An to offer cyber and terrorism cover in Philippines

Hong Kong’s Jing An to offer cyber and terrorism cover in Philippines

Hong Kong’s Jing An to offer cyber and terrorism cover in Philippines

Jing An Special Risks (JASR), a Hong Kong-based specialty insurer, has been awarded a licence by the Philippines Insurance Commission to offer cyber and terrorism cover to corporate clients in the country. “Our products intend to cover businesses against the following threats: war and terror, cyber, kidnap and ransom, marine piracy, and crisis response,” stated Gene Yu, JASR chairman and…

Specialty insurer StarStone appoints Agile as MGA in Australasia

Specialty insurer StarStone appoints Agile as MGA in Australasia

Specialty insurer StarStone appoints Agile as MGA in Australasia

Lloyd’s coverholder and managing general agent (MGA) Agile Underwriting has been appointed as a representative agent by specialty insurer StarStone in Australia and New Zealand. StarStone, which is owned by Bermuda-based Enstar, has decided to close its Sydney office following a strategic review, choosing instead to appoint Agile, which bills itself as an insurtech-powered MGA. The two businesses have been…

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