HK to open Belt and Road insurance exchange

HK to open Belt and Road insurance exchange

HK to open Belt and Road insurance exchange

Hong Kong’s insurance regulator has announced plans to open an insurance exchange dedicated to providing coverage for projects connected to China’s Belt and Road Initiative (BRI). The announcement was made at the annual global Brokerslink conference in Hong Kong by Clement Cheung, chief executive of Hong Kong’s Insurance Authority (IA). The Belt and Road Insurance Exchange Facilitation will launch in…

AXA XL partners with supply chain data firm to manage cargo risks

AXA XL partners with supply chain data firm to manage cargo risks

AXA XL partners with supply chain data firm to manage cargo risks

AXA XL has partnered with US supply chain data platform Parsyl Inc, to help shipping firms and insurers get a better picture of conditions that perishable cargo experiences in transit, in order to ultimately reduce risks and losses. Based in Denver, Parsyl uses sensors placed with cargo to track conditions through the entire supply chain. AXA XL, the new name…

Risk managers concede industry must work harder to understand supply chain exposures

Risk managers concede industry must work harder to understand supply chain exposures

Risk managers concede industry must work harder to understand supply chain exposures

Risk and insurance managers must work harder to fully understand their supply chain exposures and cannot expect insurers to take on their risk without putting in such work first, said Nordic risk managers taking part in our European Risk Frontiers survey, who warned that obtaining such information is not easy…

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

The Chinese government has continued its crackdown on market confusion acts, trade secret infringement and internet-related misconduct, and is focusing its efforts particularly on the online and pharmaceutical industries. Experts advise risk managers with companies that procure products from China to make doubly sure that they are asking the right questions of suppliers to ensure that they are compliant. The latest…

China braces for deadly typhoon as Japan counts human and economic cost

China braces for deadly typhoon as Japan counts human and economic cost

China braces for deadly typhoon as Japan counts human and economic cost

China is bracing itself for the impact of Typhoon Maria, which has already led to the deadliest flood disaster in Japan since 1983, caused huge disruption and will lead to heavy insured losses, not least business interruption. The typhoon skirted past Taiwan and caused much lower damage than originally expected. But it continued northwest toward the eastern coast of China, making…

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