The most frequently mentioned protection gap in emerging Asia relates to morbidity: increasing environmental pollution, changing lifestyles and aging give rise to a rapid growth of cancer, diabetes and cardiovascular diseases, according to a report released by Peak Re.
The need for management of credit risk by farmers has been highlighted in recent months by the failure of two grain-trading companies on the east coast of Australia in the first quarter of 2019. In each case, market participants are owed many millions of dollars, and grain growers are amongst the creditors.
The Hong Kong government is offering HK$60,000 ($7,700) per year in tax deductions for either enrolment in a tax-deductible annuity scheme or voluntary contributions to the Mandatory Provident Fund (MPF).
Most states in India are implementing the flagship government backed health insurance scheme for the poor without the participation of private insurance companies.
InsurTech start-up, Bindcover, has been launched to make it easier for people to manage complicated insurance claims. Bindcover also aims to provide an understanding of insurance claims for the public.
Japan’s insurance industry is establishing a guideline banning life and medical insurers from collecting or using personal genetic information for decisions regarding eligibility for coverage and premiums to prevent ‘genetic discrimination’, industry players say.
Finance minister Lim Guan Eng has said that the government is prepared to consider a proposal to allow those over 55 to benefit under the MySalam National Protection Scheme, which is targeted at the bottom 40% of the population.
Five global insurers from Japan, Canada, the UK and the US have been granted provisional licences to operate wholly owned life insurance subsidiaries in Myanmar.
The insurance sector expects the government to provide a business enabling environment, according to Askari General Insurance CEO Abdul Waheed, who is a trained chartered accountant.
Life and non-life insurers are seeking a reduction in the premiums charged by the Korea Deposit Insurance Corp. (KDIC).
The net impact of exchange rates on the insurance industry this year is expected to be smaller this year compared to last year, according to Financial Supervisory Commission (FSC) chairman Wellington Koo.
The Tourism Authority of Thailand (TAT) has signed a memorandum of understanding with three leading insurance companies to provide an insurance policy, Thailand Travel Shield, for foreign tourists.
The Ministry of Industry and Trade (MOIT) has recently proposed a draft decision to amend regulations so as to address unnecessary overlapping regulatory procedures for life insurers in Vietnam.
This year marks the 55th International Insurance Society Global Insurance Forum. To have not only survived, but to have grown in size and stature in the industry, the forum has clearly offered something unique and special in a period of proliferating insurance conferences. This year’s event, in Singapore on 18-21 June, will demonstrate why the GIF is worth the time of the industry thought leaders who participate each year.
Lemonade, the AI-driven insurance platform based in New York, has raised $300m in a Series D funding round led by SoftBank Group. The company is currently valued at a reported $2bn.
Insurance giant Marsh & McLennan is leading a new collaborative effort involving top cyber insurance companies in order to provide a ‘cyber catalyst’ seal of approval to the top-rated cyber security products in the marketplace. The goal of this new cyber insurance initiative is simple: To make it easier for businesses and consumers to find the very best cyber security products that will protect them from data breaches, data theft and cyber extortion.
The Asian Development Bank (ADB) said in a newly released research paper that with the region facing ever-higher disaster risks, developing Asia urgently needs to build its resilience before catastrophe strikes through better planning, setting aside government budget, and encouraging insurance.