RIMS launches in India

RIMS launches in India

RIMS launches in India

RIMS has confirmed the creation of its 80th chapter, in India, which adds to the US risk management association’s growing list of chapters in Asia and the Pacific region in particular. The Indian chapter was originally announced at the RIMS Risk Forum India 2020 on 4-5 December, a two-day virtual conference. RIMS now has four chapters in the Asia-Pacific region,…

Attention turns to trade agreements for DIC/DIL as IAIS discussions stall

Attention turns to trade agreements for DIC/DIL as IAIS discussions stall

Attention turns to trade agreements for DIC/DIL as IAIS discussions stall

As discussions with the International Association of Insurance Supervisors (IAIS) struggle to gain traction, there is a real opportunity to get multinational insurance regulations, including DIC/DIL arrangements, on the table in a growing number of bilateral or regional trade agreements taking place around the world, according to risk and insurance experts. This could improve cross-border insurance regulations in the longer term and…

AMRAE pushing for captives and risk management incentives in France

AMRAE pushing for captives and risk management incentives in France

AMRAE pushing for captives and risk management incentives in France

AMRAE is pushing ahead with plans to convince its government to facilitate the creation of captives in France and put in place other measures to boost risk management, in order to help the country bounce back from Covid-19 and ensure insurance buyers can better deal with the hard commercial insurance market. The association’s president Oliver Wild told Commercial Risk’s latest…

IAIS calls for patience on global regs as risk associations urged to step in

IAIS calls for patience on global regs as risk associations urged to step in

IAIS calls for patience on global regs as risk associations urged to step in

Manuela Zweimueller, head of supervisory practices at the International Association of Insurance Supervisors (IAIS), has told multinational insurance buyers not to expect the supervisory body to magically fix problems with global programme regulations anytime soon, but said it is starting to raise awareness of various issues with regulators. This prompted other experts at our latest conference to urge insurance buying…

Need for greater resilience is key theme for Asia-Pacific risk managers

Need for greater resilience is key theme for Asia-Pacific risk managers

Need for greater resilience is key theme for Asia-Pacific risk managers

The Pan Asia Risk & Insurance Management Association (Parima) attracted a record number of delegates to its Resilience Week, which was its first major virtual event and replaced its normal annual conference because of the ongoing pandemic. The association hosted an impressive lineup of risk and insurance industry leaders, including Evan Greenberg of Chubb, Greg Case of Aon, Thomas Buberl…

Risk managers should not fund insurers’ inefficiencies, warns Baron

Risk managers should not fund insurers’ inefficiencies, warns Baron

Risk managers should not fund insurers’ inefficiencies, warns Baron

Franck Baron, chairman of Parima, used his closing remarks at the association’s Resilience Week to warn insurers that they cannot expect customers to bolster their profits by accepting higher prices if they are not willing or able to tackle their own bloated cost bases and inefficient systems. Mr Baron accepts that Parima members enjoyed the long soft market along with…

Parima members warned to dig in for long hard market

Parima members warned to dig in for long hard market

Parima members warned to dig in for long hard market

Risk and insurance managers in the Asia-Pacific region and worldwide need to steel themselves for a prolonged hard market, take a good look at their self-retention strategies and prepare colleagues and bosses for higher insurance costs and tighter capacity during the next two annual renewals at least, according to top insurer CEOs and brokers who took part in Parima’s Resilience…

Broker and insurer consolidations to continue, say Buberl and Glaser

Broker and insurer consolidations to continue, say Buberl and Glaser

Broker and insurer consolidations to continue, say Buberl and Glaser

Risk managers worldwide can expect continued consolidation in the commercial and corporate insurance sector, as the market remains remarkably fragmented despite recent M&A activity between major international insurers and brokers, according to Dan Glaser, CEO of Marsh & McLennan. Mr Glaser made his prediction in response to a question posed to him by Franck Baron, chairman of Parima, during the…

Buberl calls for focus on public-private partnership for systemic risk

Buberl calls for focus on public-private partnership for systemic risk

Buberl calls for focus on public-private partnership for systemic risk

Thomas Buberl, CEO of AXA Group, used the closing CEO debate during Parima’s Resilience Week today to call again for the creation of public-private partnerships at national and possibly also regional levels to cope with future systemic risks such as the current Covid-19 pandemic. A number of schemes to help cope with future crises have been mooted since the spring,…

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…

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