Magazine Table of Contents
Demographic changes, evolving market dynamics and climate change are some of the challenges Asia is facing as it stands at a crossroad. And the way forward is to embrace these developments, say industry experts at the 27th East Asian Insurance Congress (EAIC), and to pit change against change.
The 18th EAIC in 2006 declared 18 October as EAIC Insurance Day. Member cities are urged to hold events on this day to promote the awareness of insurance to the public. We bring you a quick update on what four of the 12 markets in the EAIC - Japan, Malaysia, Philippines and Taiwan - did to celebrate EAIC Insurance Day.
Insurers can help risk managers understand the fast-changing insurance regulations, says Mr Franck Baron, Group General Manager Risk Management & Insurance at International SOS.
With the AEC on track, Mr Vinayak HV, Dr Fraser Thompson and Mr Oliver Tonby from McKinsey & Company highlight the seven underlying facts of ASEAN that make investors' heads turn.
The rising cost of weather-related natural disasters is often attributed to Global Climate change. This view is wrong, says Professor John McAneney of Risk Frontiers.
Mr Adityam Krovvidi of Aon Benfield introduces two flood models for parts of China and Vietnam to help insurers make more informed decisions on accumulation control, capital management, reinsurance purchasing and underwriting.
In a long list of industries, the business climate reflects the weather - even anticipated fluctuations can hit balance sheets hard. Dr René Mück from Munich Re looks at the development of weather risk management with sophisticated hedging instruments.
With some 500 delegates, the 20th Indonesia Rendezvous discussed the developments and challenges of the industry, with special focus on the tariff and the setting up of a mega reinsurer.
Takaful is still seeing the launch of new ideas. The 2nd Takaful Rendezvous saw the airing of such new ideas and the call for collaborative action to overcome some of the old threats to the business.