This is the time for action

This is the time for action

This is the time for action

This issue of Commercial Risk Asia is wholly based on a series of in-depth interviews carried out with leading members of the Pan-Asia Risk & Insurance Management Association (Parima) for our annual Risk Frontiers survey. The point of this survey is to provide risk and insurance managers across the world with a unique platform to express their views on key…

Parima members look for alternatives as market hardens

Parima members look for alternatives as market hardens

Parima members look for alternatives as market hardens

Risk and insurance managers in the Asia-Pacific region are by no means immune from the rapidly hardening global corporate insurance market, as insurers seek to push up prices and limit cover and capacity on the back of the Covid-19 crisis. The hardening was actually already underway in the region before the crisis hit but, as in Europe, members of the…

Risk managers need to focus on financial stress, health and safety, and planning

Risk managers need to focus on financial stress, health and safety, and planning

Risk managers need to focus on financial stress, health and safety, and planning

Financial sustainability, health and safety of customers and staff members, job security of staff, and business plans and projections, are the main exposures brought about by the Covid-19 pandemic; and risk managers need to play a central role in their management, according to a board member of the Hong Kong chapter of Parima. The risk manager, who chose to remain…

Natividad urges risk managers to take the driving seat in new age of risk management

Natividad urges risk managers to take the driving seat in new age of risk management

Natividad urges risk managers to take the driving seat in new age of risk management

The shock caused by the sudden arrival of the Covid-19 pandemic has highlighted the need for companies to carry out and take more seriously scenario planning and modelling, crisis management planning, business continuity plan development and testing on a regular basis, according to Annacel Natividad, chief finance officer and head of risk management, Pilmico Foods Corporation in the Philippines Speaking to…

Focus on the long term and wellbeing of staff to build resilience: Wu

Focus on the long term and wellbeing of staff to build resilience: Wu

Focus on the long term and wellbeing of staff to build resilience: Wu

The relative lack of preparedness for the arrival of the Covid-19 pandemic across the world can be attributed to the short-term thinking and planning that has dominated so many governments worldwide in recent times, according to Kelvin Wu, board member of the Pan-Asia Risk & Insurance Management Association (Parima), and corporate risk manager of International SOS, based in Singapore. Mr Wu told…

Tough times ahead as Asia emerges from the pandemic

Tough times ahead as Asia emerges from the pandemic

Tough times ahead as Asia emerges from the pandemic

Patrick Chan, director and general manager of Nova Risk Services Holdings and board member of Brokerslink, spoke to Liz Booth about the challenges of doing business through the Covid-19 pandemic… In Asia, insurers have recently been extending coverage on existing health insurance policies to cover treatment costs or provide Covid-19-specific death cover, according to one leading broker. Patrick Chan, director and…

Resilience has to be number one priority: Baron

Resilience has to be number one priority: Baron

Resilience has to be number one priority: Baron

Commercial Risk Asia editor Adrian Ladbury discusses the key questions for this year’s Risk Frontiers survey, sponsored by HDI Global and Brokerslink, with Franck Baron, founding chairman of the Pan Asia Risk & Insurance Management Association (Parima) and group deputy director, risk management and insurance, International SOS. Mr Baron says that the crisis has shown once again how important it…

Adapt, pivot and rapidly evolve to survive and prosper, advises Parima’s Tunstall

Adapt, pivot and rapidly evolve to survive and prosper, advises Parima’s Tunstall

Adapt, pivot and rapidly evolve to survive and prosper, advises Parima’s Tunstall

Steve Tunstall is general secretary of the Pan-Asia Risk & Insurance Management Association (Parima) and director of Tunstall Associates, based in Singapore. He was one of the founding members of Parima, along with Franck Baron, Kelvin Wu and the team when it was launched at its first conference in Singapore back in April 2013. Mr Tunstall is a business risk management…

Q3 insurance prices up 20% globally, 34% in UK and 15% in Europe: Marsh

Q3 insurance prices up 20% globally, 34% in UK and 15% in Europe: Marsh

Q3 insurance prices up 20% globally, 34% in UK and 15% in Europe: Marsh

Global insurance prices rose 20% in Q3, with increases of 34% in the UK and 15% in continental Europe, according to Marsh’s latest index, which saw the biggest jump since it began tracking figures back in 2012. The broker said it expects this rising trend to continue into 2021. Marsh’s third-quarter Global Insurance Market Index shows that all regions around…

P&C insurers deliver 2019 underwriting profit and 97.4% combined ratio

P&C insurers deliver 2019 underwriting profit and 97.4% combined ratio

P&C insurers deliver 2019 underwriting profit and 97.4% combined ratio

The global P&C insurance industry produced another underwriting profit last year and a combined ratio of 97.4%, according to Aon’s 15th annual Insurance Risk Study. The figure is a slight improvement on the 98% combined ratio in 2018 and was buoyed by an overall 95.5% combined ratio in Europe. Asia-Pacific and the Americas each averaged 98%. The combined ratio was…

1 2 3 24