Parima opposes retroactively opening up BI policies to pandemic risks

Parima opposes retroactively opening up BI policies to pandemic risks

Parima opposes retroactively opening up BI policies to pandemic risks

The Pan-Asia Risk and Insurance Management Association (Parima) has joined the fast-growing body of opposition to legislative efforts in the US and elsewhere to try and open up business interruption (BI) coverage retroactively to pandemic risks that were excluded when originally underwritten. The association has called on insurers and brokers across the Asia-Pacific region to rise to the huge challenge…

Age of vulnerability will place risk management centre stage: Kessler

Age of vulnerability will place risk management centre stage: Kessler

Age of vulnerability will place risk management centre stage: Kessler

Dennis Kessler, chairman and CEO of SCOR, one of the biggest reinsurers in the Asia-Pacific region, believes that the arrival of the Covid-19 pandemic will usher in a new age of vulnerability and risk aversion that should finally shove the risk management community in private and public sectors to centre stage. Mr Kessler is never shy to give his opinion…

Parima holds first digital ‘huddle’ on risk and insurance lessons from virus

Parima holds first digital ‘huddle’ on risk and insurance lessons from virus

Parima holds first digital ‘huddle’ on risk and insurance lessons from virus

The Pan-Asia Risk & Insurance Management Association (Parima) will host the first of a new series of online conferences for members today, focused on the risk management and insurance matters triggered by the Covid-19 virus. It has also confirmed its new schedule of conferences for the rest of this year and into 2021. Parima said that in such a “dynamic…

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

The World Bank has advised national governments not to react to the rise of coronavirus (Covid-19) and its devastating impact on the global economy too hastily by raising protectionist barriers and particularly by restricting the export of badly needed food and medical products. Now is the time for the nations of the world to pull together to combat the virus…

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Risk managers should stress test their insurance programmes to see how coverage may be triggered for losses caused by coronavirus (Covid-19), according to Franck Baron, group deputy director, risk management and insurance at International SOS, and chairman of the Pan-Asia Risk & Insurance Management Association (Parima). Key lines that may be triggered by the impact of the virus include business…

Coronavirus set to ravage global supply chain according to Russell Group analysis

Coronavirus set to ravage global supply chain according to Russell Group analysis

Coronavirus set to ravage global supply chain according to Russell Group analysis

Ten Chinese companies, with combined revenues of almost $1.5trn, will be exposed to an estimated $122bn of connected loss exposures from the coronavirus, according to risk modelling firm Russell Group. The numbers provide further evidence of the potentially catastrophic impact the virus could have on the global economy, as both imports into China and exports out of the country are…

Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

The coronavirus outbreak provides a critical test of the southeast Asia region’s ability to diversify global supply chains and reduce its dependency on China, according to Sofia Nazayla, analyst at Maplecroft, a UK-based global risk and strategic consulting firm. This ‘black swan’ event has already had a global economic impact that will inevitably intensify. But leading southeast Asian economies such…

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

The Pan-Asia Risk & Insurance Management Association (Parima) has created a webpage for its members to keep them abreast of the latest developments with the novel coronavirus and provide support and advice at this difficult time for all companies in the region. Parima chairman Franck Baron is also Singapore-based group deputy director, risk management and insurance at International SOS, the…

Asian risk managers under less pressure on cyber, D&O and climate change than international peers

Asian risk managers under less pressure on cyber, D&O and climate change than international peers

Asian risk managers under less pressure on cyber, D&O and climate change than international peers

Cyber coverage is being extended across Asia-Pacific and big investment is being made in raising awareness of the risk by authorities across the region, but risk and insurance managers still seem unwilling to recognise the need for the cover, according to Franck Baron, chairman of the Pan-Asia Risk Management and Insurance Association (Parima) and group general manager – risk management…

Indian risk managers face tricky year but underlying political stability a plus: IRM

Indian risk managers face tricky year but underlying political stability a plus: IRM

Indian risk managers face tricky year but underlying political stability a plus: IRM

Risk managers in India face many challenges in 2020, such as a slowing economy, rising cyber threat and extreme weather. But the majority gained by the Modi government last year should at least deliver a level of political stability and economic policy consistency not seen in recent times. This should help Indian businesses weather the storm and ensure that the…

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