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Magazine

Mar 2020

News


Asian

Australia: Severe thunderstorms lead to over 55,000 insurance claims

The storms in eastern Australia that took place from 19-21 January appear to be the country’s most severe thunderstorms since December 2018, said AIR Worldwide.
 


China: Insurance association stresses speedy claims processing for coronavirus cases

The Insurance Association of China (IAC) has said that it is necessary for insurers to open a ‘green channel’ for handling insurance claims related to medical treatment for the novel coronavirus. 
 


India: State-owned general insurers move a step closer to merger

On 12 February, India’s union cabinet gave its in-principle approval to inject INR25bn ($351m) into three public sector general insurance companies. The capital infusion in these companies takes place ahead of their proposed merger by the end of next month. 
 


Indonesia: Govt approves major reform easing rules affecting foreign ownership of insurers

Indonesia is now allowing foreign investors to own more than 80% of shares in locally-listed insurance companies – loosening a rule that has for a long time stopped foreign insurance companies from expanding their business in Indonesia.
 


Malaysia: Insurers urged to change messaging about life insurance

Life Insurance Association of Malaysia (LIAM) president Loh Guat Lan suggested that insurers can present their offerings in a new way – in terms of financial wellness.
 


Risk

Oil and gas majors reject requests to address climate change

Companies like Exxon Mobil, Chevron and Chase, with significant stakes in oil and gas and other fossil fuels, are resisting requests from shareholders to take responsibility for their contributions to climate change.