China: Handle with care
SIRC: Inflation implications for reinsurance
India: Pros and cons of obligatory cessions
Nepal: Reinsurance challenges and solutions
Harnessing the power of data
APAC reinsurance in focus
General
Electric Vehicle Insurance - Singapore: EV insurance gains popularity but lacks scale
Electric Vehicle Insurance: View from India - India: Are insurers ready for electric vehicles?
Electric Vehicle Insurance - Philippines: Lack of EV claims data a concern
Electric Vehicle Insurance - South Korea: EV insurance playing catch-up
Electric Vehicle Insurance - EVs in Australia, China and Hong Kong
Hong Kong regulator faces challenges retrieving missing funds
Securing the NFT market
Ensuring resilient economies through insurance
Bangladesh insurers face climate change test
India: Climate change and insurers
Life & health
Life insurance adapts to climate change
Driving offline success in an online world
Malaysia
Insurers facing persistent profit challenges
InsurTech progressing cautiously
Regulation for sustainability, affordability and innovation
Reinsurers face uncertainties in flood risks
Government initiatives boost life sector
P&C insurance returns to previous growth standards
Making insurers more efficient
Mortgage insurers well placed to ward off gloom
Briefs
New insurance investor guidelines in Australia
Actuaries Institute: COVID-19 third leading cause of death in 2022
Turbulent times ahead in class action environment
APRA blueprint 2022-2026
Critical illness insurance in crisis
Market recovery momentum continues
Think Tank
The Geneva Association - Ransomware: An insurance market perspective
Asian
Asia: Insurance pricing in region rises by 3% in Q2
Japan: Tokio Marine sounds alert on COVID-related losses in Taiwan
Singapore: AM Best upgrades Singapore Re's ratings on appeal
Risk
Cyber security and data privacy top people-related risk in Asia
Semiconductor industry supply chain risks
Australia: 20 top financial and business bodies agree on need for sustainability reporting standards
Hong Kong: AXA announces flexible wealth accumulation plan
Hong Kong Life launches new savings plan
Malaysia: KTMB offers takaful plan for passengers
People on the move
The insurance protection gap is generally defined as the difference between total and insured loss costs. Globally, 2021 total losses from natural disasters were estimated to equal approximately USD 280 billion, of which approximately USD 120 billion, or 43%, were covered by (re)insurance.(1) This gap was smaller than many previous years because a higher proportion of losses occurred in the US, which has one of the most developed insurance markets in the world, with high penetration.
Secondary perils represent a complex and nuanced challenge for the (re) insurance industry. In essence, these natural perils are “known, unknowns.” They are known to pose a risk, but our industry does not always have a full understanding of their potential impacts.
The next video in the series looks at how ESG is playing out in Australia and the opportunities and challenges that this will bring to the insurance industry.
The next video in the series looks at defining secondary perils, insuring against them, the importance of modelling – and the role of reinsurance in closing the protection gap.
The next video in the series looks at global systemic risks, climate risk, net zero planning and risk as it relates to ESG.
We talk to four leading risk-industry professionals - Mercer president of Asia, Middle East and Africa Renee McGowan, Guy Carpenter CEO of Asia Pacific Tony Gallagher, Oliver Wyman partner – head of APR public policy Jacob Hook and Marsh Asia head David Jacob.
The next video in the series looks at the impact of recent cyber events in Asia.
Guy Carpenter managing director, cyber centre of excellence leader Siobhan O'Brien talks to Asia Insurance Review about what insurers can do to mitigate the impact of these cyber events.
The next video in the series looks at the impacts of recent economic and regulatory changes on life and health insurance in Asia Pacific.
The next video in the series looks at the changing nature of risk management.
China Pacific Property Insurance Company chief actuary Chen Sen talks to Asia Insurance Review about why risk management is changing and what part technology plays in this – and how corporates can prepare for the change.
The first video in the series looks at the changing nature of risk.