China and North Korea adding to new levels of political risk, warns Marsh

China and North Korea adding to new levels of political risk, warns Marsh

China and North Korea adding to new levels of political risk, warns Marsh

Multinationals face “unprecedented uncertainty” caused by growing political risk, Marsh warned on publishing its Political Risk Map 2019. Marsh added that trade disputes, protectionism and geopolitical tensions have created an “unstable” environment for multinational companies with direct foreign investment. The updated Political Risk Map uses data from Fitch Solutions to rate more than 200 countries’ political, economic and operational stability.…

HDI Global Specialty acquires Neon’s bloodstock team

HDI Global Specialty acquires Neon’s bloodstock team

HDI Global Specialty acquires Neon’s bloodstock team

HDI Global Specialty has acquired Neon Underwriting’s bloodstock team and said more specialty acquisitions are likely. Mark Edwards, Neon’s head of specialty and class underwriter for bloodstock and livestock, will join HDI along with Cathy Olive, deputy class underwriter, and underwriters Laura Moore and William Jordan. The Neon team boasts a global book of business, writing bloodstock business in the…

Allianz names new head for Asia P&C business

Allianz names new head for Asia P&C business

Allianz names new head for Asia P&C business

Claudia Salem has been named by Allianz as the chief executive of its Asian property and casualty (P&C) business. Ms Salem joins from AIG, where she served as Singapore chief executive and head of southeast Asia. In her new role, she will be responsible for the profit and loss and functional development of the business, as well as overseeing the…

New insurance industry initiatives for Guangdong, Hong Kong and Macao

New insurance industry initiatives for Guangdong, Hong Kong and Macao

New insurance industry initiatives for Guangdong, Hong Kong and Macao

New initiatives for the insurance industry have been announced by China’s State Council under its Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area. The initiatives include promoting cross-boundary renminbi reinsurance business; supporting joint development by insurance institutions in Guangdong, Hong Kong and Macao of innovative and cross-boundary motor vehicle and medical insurance products; exploring the development of a…

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…

Carbon nanotubes and disease risks

Carbon nanotubes and disease risks

Carbon nanotubes and disease risks

Understanding the potential for new risks, and particularly those that may ultimately lead to disease claims, is increasingly important for those sectors manufacturing or using nanotech. With its increased use in a variety of products, questions about the health risks will continue to be raised. As early as 2008, pathogenic similarities between some carbon nanotubes (CNTs) and asbestos fibres were…

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…