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…

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…

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