The attitude towards life and health insurance has changed due to COVID-19. People are being more risk-averse about their own health and showing more concern over protection, according to the seventh edition of ReMark's annual Global Consumer Study (GCS).
Following the COVID-19 pandemic, reputation matters more than ever to organisations and any trust-related challenges should be addressed swiftly with detailed and causal explanations to manage reputational risk, according to a new report jointly released by RIMS, Airmic, and RepTrak.
Although enterprise risk management (ERM) has evolved rapidly over the past decade, the COVID-19 pandemic has served to emphasise that (re)insurers still can be affected by "unknown unknowns" and "unexpected accumulations", according to a new AM Best Report.
The Institute of Risk Management (IRM) has launched a revised version of the International Diploma in Risk Management. The market led revised version has been developed in conjunction with academics and leading risk management practitioners.
RIMS, the risk management Society board director Patrick Sterling joined the US congresswoman Carolyn B. Maloney and stakeholders from the small business community and the insurance industry to emphasize the urgent need for the Congress to pass the H.R. 7011, the Pandemic Risk Insurance Act (PRIA).
J.B. Boda Insurance and Reinsurance Brokers and RIMS, the risk management society will jointly develop and deliver risk management content, market research and education for risk professionals around the world.
The Algerian Union of Insurance and Reinsurance Companies (UAR) has created a think tank which is currently examining the possibility of setting up a mechanism that would cover exceptional crises such as the COVID-19 pandemic, its president, Youcef Benmicia, said.
The IRDAI plans to prescribe risk-based solvency requirements and higher equity capital to ensure insurers have sufficient capital adequacy to withstand socioeconomic shocks such as the coronavirus pandemic.
The Chinese authorities are set to implement a new regulatory regime for companies with significant operations in the financial sector, that Moody's Investors Service sees as credit positive for the financial system.
At least 22 insurance companies have increased their capital or issued bonds since the beginning of this year, with the aggregate increase totalling more than CNY58bn ($8.6bn). Among them, the bond issuance scale is CNY48.45bn.