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  • Third-party risks are changing and the risk management must change as well

    According to new research by Garner, twice as many compliance leaders have identified third-party risk as a top threat, as compared to last year. The fundamental nature of third-party risk has changed, leading companies to experience greater variability in the maturity of their third-party network, these third-parties working with an increasing number of third-parties themselves and increased third-party access to organizational assets.

    Asia Risk | 21 Aug 2019
  • Human exposure to toxins on the rise due to over-fishing and climate change

    A scientific study conducted by an international consortia consisting of Harvard University, Indian Institute of Technology, Hyderabad, India and Fisheries and Oceans, Canada has found that climate change and shift in dietary patterns due to over-fishing by humans are pushing up the amount of toxic mercury in certain fish population in the world.

    Asia Risk | 21 Aug 2019
  • Total cost of risk up by 2% in 2018 due to rising insurance rates

    Businesses and organisations paid nearly 2% more in 2018 than they did in 2017 to cover the total cost of risk (TCOR), according to the 2019 Risk and Insurance Management Society (RIMS) benchmark survey.

    Asia Risk | 21 Aug 2019
  • Meat tax to curb global warming?

    Research company Fitch Solutions Macro Research has said that additional taxes could be levied on red meat to curb climate change. This could be due to the criticism of the industry's role in climate change, deforestation and animal cruelty.

    Asia Risk | 21 Aug 2019
  • Global reinsurers to rebalance their natural catastrophe exposure

    Global reinsurers are reacting strategically to hardening prices, amid heightened catastrophe activities. Most of the top 20 reinsurers have chosen to increase their exposure relative to capital, to benefit from the slightly improved conditions.

    AIRPlus | 20 Aug 2019
  • AIG appoints new chief actuary of general insurance

    AIG has appointed Mr Richard Olsen to the role of chief actuary of general insurance effective immediately. He will report to AIG executive vice president and CFO Mark Lyons.

    Asia | 19 Aug 2019
  • Only 42% of 1H2019 estimated losses from disasters were insured, says Swiss Re

    With global economic losses from Nat CAT and man-made disasters in the first half of this year amounting to $44bn, only about $19bn or 42% of these losses were insured as several large-scale disaster events occurred in areas with low insurance penetration according to Swiss Re Institute's preliminary sigma estimates.

    Asia | 16 Aug 2019
  • This insurance giant is set to split by this year

    This insurance giant delivered Asia-led growth in the first half of 2019. It is also set to complete its demerger in the fourth quarter of 2019 and preparations are complete for its move to Group-wide supervision by the Hong Kong Insurance Authority.

    Agents | 15 Aug 2019
  • Building on the blueprint

    The announcement of Lloyd's blueprint for its future strategy is highly anticipated, as the world's oldest insurance markets prepares to reimagine and transform itself. The impetus of the blueprint came as a response to customers' changing needs, now moving at a faster pace than ever before.

    AIRPlus | 14 Aug 2019
  • Climate change is increasing turbulence on flights

    Climate change will increase severe turbulence on flights, especially on the trans-Atlantic flights. According to a new study, 'Increased shear in the North Atlantic upper-level jet stream over the past four decades', published in the journal Nature, there is a statistically significant increase in vertical wind shear at jet-stream altitudes across the North Atlantic. Changes here can have a significant influence on aviation, since nearly 3,000 flights cross the Atlantic on an average day.

    Asia Risk | 14 Aug 2019

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