As the recent Samsung and VW product recall issues have shown, the consequences of a recall can be globally significant. Often, the need for product recall insurance is not recognised until after a company has suffered a recall. The reputational damage that can be incurred, combined with the ever-growing complexity of supply chains and the new exposures created by technology,…
China has been undergoing significant legal and regulatory reform in the (re)insurance sector for some time and this is set to continue into 2017. The China Insurance Regulatory Commission (CIRC) first announced plans to implement a new solvency regime in March 2012. After several years of consultation and testing, the CIRC published the China Risk Oriented Solvency System (C-ROSS) rules in…
In Chinese astrology, 2017 will be the year of the rooster. According to an internet-based horoscope guide, the rooster signifies fidelity, punctuality, neatness and organisation—all solid properties for a risk manager.
This month, we publish our first Risk Frontiers Asia survey, in partnership with Generali and Parima. The research is a comprehensive study of the latest developments in risk and insurance management. The release of our report also marks the one-year anniversary of our publication. It was 12 months ago that we launched at the Parima annual conference in Singapore, so it is fitting that the report is published at this year’s Parima gathering in Hong Kong.
In County Clare, Ireland there is a place called Lisdoonvarna, which every year holds a match-making festival. The event, which has run for 150 years, was originally designed to help single farmers with limited social skills but acres of land, to find a wife. Both the Irish government and the Catholic church were keen to see these landed singletons married off and starting a family.
Later this month there are a number of events that will showcase the use of technology in the risk and insurance world, not least the Insuretech event run by the Pan-Asia Risk and Insurance Management Association (Parima) in Singapore on 27-28 September.
This month we are pleased to announce the launch of the inaugural Commercial Risk Asia Risk Frontiers survey, in partnership with Generali and Parima . This comprehensive and unique research has proved very successful with our sister publications Commercial Risk Europe and Commercial Risk Africa and we hope to emulate this success in the survey’s latest regional iteration.
It is great news that Parima has been invited to participate on the Insurance Development Forum (IDF), a working group of insurers and international bodies including the United Nations and the World Bank, which is charged with helping to address the risks associated with climate change and closing the protection gap that exists in the developing world around natural catastrophes.