An IRDAI panel has suggested standardisation of the professional indemnity policy under which insurance cover can be provided to brokers, corporate agents, web aggregators and insurance marketing firms.
The number of A-share listed companies that purchased D&O liability insurance in 2020 for the first time was 170. This number was almost half the 400 A-share listed companies with D&O insurance as of the end of 2019, showing that demand for the cover jumped significantly.
Applied Underwriters has formed a new enterprise to operate from Paris and Cologne to underwrite several specialty lines in the EU and in the Middle East, including professional indemnity and D&O, the company's chairman Mr Steve Menzies announces in a statement.
Insurers in India appear relatively immature when it comes to fraud mitigation and management.
China is expected to slow its international engagements over the next few years, leaving economies like Angola, Kenya, Ethiopia, Ecuador and Ghana, along with Brazil and South Africa, to struggle to find alternative international sources for funding, investment and trade to sustain their economic growth, says global trade credit insurer Euler Hermes.
There has been a global spike in financial services firms turning to regulatory technology (RegTech), outsourcing and operational resilience solutions for risk and compliance management in the wake of COVID-19.
The Indonesian General Insurance Association (AAUI) expects that the rising trend of credit insurance claims since 2019 is likely to continue next year.
A working group formed by the IRDAI has recommended that insurers issue surety bonds as an alternative to bank guarantees for large construction and infrastructure projects.
Over 120 domestically or A-share listed companies announced in the first three quarters of this year that they planned to purchase D&O liability insurance, doubling the number that did so year-on-year.
Australia and New Zealand are in the midst of the most volatile and restrictive Directors & Officers liability (D&O) insurance market in its history - commonly known as a 'hard' market in the industry, according to a report on D&O insurance trends.