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Property & Casualty tag returned 1280 results

  • New Zealand: Insurers refute allegations that consumers get raw deal

    People who take out general insurance do get a fair deal from their insurer, contrary to Consumer NZ's assertion that they don't, said Insurance Council of New Zealand (ICNZ) CEO, Mr Tim Grafton, in a statement yesterday.

    Asia | 25 Jun 2019
  • Sri Lanka: State owned insurer declares record bonus for life policyholders

    State owned Sri Lanka Insurance Corporation (SLIC) has declared its biggest life insurance bonus of LKR7.7bn ($43.6m) for the year 2019 to its life insurance policyholders, chairman Mr K A Vimalenthirarajah, says in the company's annual report for 2018.

    Asia | 25 Jun 2019
  • First insurance to cover extreme risks for Chinese tourists debuts

    As the number of Chinese tourists travelling overseas continues to grow, there has also been an increase in travel-related risks facing these tourists such as accidental injuries, trip disruptions, robberies and even kidnappings. This has led to a rising demand for regular safety insurance for accident and medical coverage as well as protection in the case of risky situations.

    Asia | 24 Jun 2019
  • American insurer to stop offering high net worth insurance in New Zealand

    AIG is discontinuing its private client group's home, contents and yacht insurance cover and will no longer offer high net worth insurance in New Zealand, effective 31 July 2019 according to a statement on the insurer's website. AIG has been operating in the country since 1970 and continues to offer corporate and commercial insurance as well as risk management products and services.

    Asia | 24 Jun 2019
  • Increased public-private collaboration required to close the protection gap

    In order to close the protection gap that leaves emerging Asian countries most vulnerable to natural catastrophes, the Insurance Development Forum (IDF) has called upon the industry to accelerate public-private collaboration and action at the IDF Day held last week in Singapore during the annual Global Insurance Forum hosted by the International Insurance Society (IIS).

    Asia | 24 Jun 2019
  • Uganda: Non-life market's 2018 profits exceed 2017 gains by 5 fold

    The non-life insurance sector in Uganda reported profits of UGX19.87bn ($5.4bn) in 2018, more than five times higher than the UGX3.1bn seen in 2017, according to the Insurance Regulatory Authority (IRA).

    Africa | 24 Jun 2019
  • India: Govt considers selling some operations of 3 state owned insurers

    The Indian government is exploring various options for restructuring three wholly state owned general insurers including breaking them down into smaller units or divesting a few operations to the private sector.

    Asia | 24 Jun 2019
  • Philippines: New claims adjusters need endorsement from industry associations

    All applications for new loss adjusting licences must be endorsed by either the Association of Philippine Adjustment Companies (APAC) or Philippine Institute of Loss Adjusters (PILA), the Insurance Commission has said.

    Asia | 24 Jun 2019
  • Mutual microinsurance helps vulnerable communities: Study

    Mutual microinsurance has the potential to build financially literate, insurable and resilient communities, according a new study from the University of Cambridge Institute for Sustainability Leadership (CISL). For the first time, the study analysed how mutual microinsurance, a community-owned model of insurance, contributes to the recovery outcomes of low income households following a natural disaster. The CISL report was launched on 21 June 2019 at the Insurance Development Forum (IDF) in Singapore.

    Asia | 21 Jun 2019
  • Earthquake model for New Zealand gets updated

    With New Zealand being highly prone to earthquakes which can lead to significant insured losses, catastrophe risk modelling firm AIR Worldwide (AIR) has released its updated earthquake model for the country. This updated model has now become the first model to cover trans-ocean basin tsunami risk from distant earthquakes, such as those off the western coast of South America. The earthquake model can also be used to demonstrate compliance with the Reserve Bank of New Zealand's Catastrophe Risk Capital Charge requirement.

    Asia | 21 Jun 2019

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