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.…

Porsche dieselgate recovery marred by another Chinese recall

Porsche dieselgate recovery marred by another Chinese recall

Porsche dieselgate recovery marred by another Chinese recall

German carmaker Porsche has been hit with the third expensive product recall in China within 12 months. This comes only weeks after the Volkswagen-owned sports-carmaker hoped that the payment of a fine of €535m in Germany for its contribution to the ‘dieselgate’ scandal would mark the end of that drawn-out and reputationally damaging affair. The news of the latest recall…

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Steve Tunstall, general secretary of Parima, will represent the association at a conference on captives, organised by Labuan International and Business Financial Centre and Swiss Re Corporate Solutions, as evidence mounts of the increased interest in the self-insurance tools among Asian risk and insurance managers. Mr Tunstall, a founding member of the Parima leadership team, is set to take part…

Risk managers must review supply chains as US-China trade war hots up

Risk managers must review supply chains as US-China trade war hots up

Risk managers must review supply chains as US-China trade war hots up

Risk managers in the Asia-Pacific region and worldwide will need to step up their scenario-planning efforts and review supply chains, as their companies face up to ever-rising levels of political and macroeconomic risk on the back of the mounting US-led trade war with China, academics and political risk experts have warned. Speaking this week to China’s Xinhua news agency, Fu…

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

Rising demand for credit insurance as economic concerns rise in Asia-Pacific

There is rising demand for credit insurance in the Asia-Pacific region, as a growing number of economic forecasts warn of slowing growth and rising insolvencies in the region. Businesses in the area are also taking a more strategic approach to credit management as they wake up to the macroeconomic threat, according to credit insurance experts. The latest analysis from credit…

China fears US will wage cyber assault in tandem with trade war

China fears US will wage cyber assault in tandem with trade war

China fears US will wage cyber assault in tandem with trade war

Most cyberattacks on Chinese networks last year originated from the US, according to an annual report released by China’s National Computer Network Emergency Response Technical Team (CNCERT). Xinhua news agency reports that CNCERT, a non-governmental organisation of network security technical coordination, found that 3.34 million computers on the Chinese mainland were controlled by more than 14,000 Trojan or botnet command…

Insurers condemn Nigerian regulator move to raise capital requirements

Insurers condemn Nigerian regulator move to raise capital requirements

Insurers condemn Nigerian regulator move to raise capital requirements

Chief executives of insurance companies and shareholder groups have condemned Nigeria’s National Insurance Commission (NAICOM) for increasing the capital base of general insurers to NGN10bn for general insurers and NGN18bn for composite firms. The new requirement for life insurance companies is NGN8bn, while for reinsurance firms, the new capital level is NGN20bn. The move follows a similar attempt by the…

Chubb launches Travel Smart

Chubb launches Travel Smart

Chubb launches Travel Smart

Chubb has launched the Chubb Travel Smart app for business travellers, to help manage risks for employees. The South Africa-based insurer said Chubb Travel Smart is the company’s duty of care solution designed specifically for employees to help manage and mitigate risks as they travel for work. It provides a range of benefits for business travellers, including pre-travel eLearning, direct…

Zimbabwe insurers call for public inquiry as policyholders struggle with inflation

Zimbabwe insurers call for public inquiry as policyholders struggle with inflation

Zimbabwe insurers call for public inquiry as policyholders struggle with inflation

Insurers in Zimbabwe have warned parliament that it needs to launch a new commission of inquiry to establish the value of insurance policies between 2016 to date, as they have been eroded by inflation. The problems with inflation are affecting both the general insurance market and the life sector. A commission of inquiry had already been launched to determine the…

Looking to the future

Looking to the future

Looking to the future

Across the world, the issue of sustainability and particularly of how to tackle climate change, has risen up the agenda fast this year. As Liz Booth reports, protests in the developed world have brought the climate change issues to the fore once more but it is in the less developed parts of the world, notably Africa, that the physical effects…