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Financial Lines tag returned 128 results

  • China: Insurers turn wary on credit business

    Several P&C insurers are becoming wary of underwriting credit insurance, as losses in this class of business mount. This represents a U-turn on the eagerness which insurers had shown in previous years when credit insurance was considered a lucrative branch.

    Asia | 09 Jul 2020
  • 2 insurers provide liability cover in Tencent-Lao Gan Ma legal suit

    Two insurers are on the sidelines of a dispute between China's biggest video game and social media firm, Tencent, and Guiyang-based chilli sauce maker Lao Gan Ma, one of China's best known food brands.

    China | 03 Jul 2020
  • Indonesia: Govt to launch credit insurance plan for MSMEs

    The government has unveiled a new rule to guarantee working capital loans for micro, small and medium enterprises (MSMEs) in a bid to encourage banks to grant credit to these businesses whose operations have been heavily disrupted by the COVID-19 pandemic.

    Asia | 03 Jul 2020
  • China: Claims made on insurers in fraud cases unveiled in US-listed Chinese companies

    Claims have been lodged against China's biggest non-life insurer PICC P&C and several other insurers in a second separate fraud case in three months involving a Nasdaq-listed mainland Chinese company.

    Asia | 01 Jul 2020
  • PICC denies liability to compensate for deficient gold inventory

    PICC P&C has refuted talk that it is liable to compensate Nasdaq listed Kingold Jewelery (KGJI) for the deficient weight or quality of physical gold that had been pledged as collateral for loans granted by lenders and for which the insurer had provided a guarantee.

    China | 26 Jun 2020
  • Aviva launches a fraud hub to help customers avoid COVID-19 scams

    Aviva has launched a Aviva Fraud Hub that contains practical tips around avoiding scammers and how to spot something that's not quite right before it's too late. A part of the website www.aviva.co.uk, the hub resources will be regularly updated as fraudsters tactics evolve.

    Asia Risk | 24 Jun 2020
  • Insurers urged to beware of legal risk exposure as D&O liability market grows

    China's new securities law establishes a Chinese-style collective litigation mechanism, a move which is likely to lead to an increase in the number of civil court actions and amounts of claims against company directors and management, according to Mr Frank Wang, head of Property & Casualty China at Gen Re Shanghai Branch.

    China | 19 Jun 2020
  • Ping An states it won't feel the pinch on any Luckin Coffee's D&O payout

    Ping An Insurance Group yesterday said that paying out on a D&O liability insurance claim from fraud-hit Luckin Coffee - even if it had to make the largest possible payout after reinsurance - will not have a material impact on its financial results.

    China | 12 Jun 2020
  • 2019 credit & guarantee insurance underwriting losses exceed US$550m

    Underwriting losses suffered in credit insurance business reached CNY2.23bn ($312m) last year while losses posted for guarantee insurance business stood at CNY1.8bn ($252m) last year, according to data from the CBIRC.

    China | 29 May 2020
  • Organisations are vulnerable to fraud in the pandemic period

    Fraud is becoming an increasing concern as most of the staff of majority of organisations are working remotely due to the social distancing and national lock-downs imposed due to coronavirus pandemic.

    Asia Risk | 27 May 2020

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