Within Australia's insurance job market, the skills in greatest demand this year include those of brokers with a Tier 1 qualification and at least five years of experience, according to a report by the global recruitment and human resources services firm, Hays.
Insurance consumers in US are generally more satisfied with the digital claims channels of their insurers than the consumers in the UK, Australia, New Zealand and Hong Kong.
South Africa's workers who did not receive their COVID-19 Temporary Employment Relief Scheme (TERS) benefit payment from the Unemployment Insurance Fund (UIF) have been assured that payment re-runs for outstanding claims were under way for the period of April to 15 September, starting mid-December.
The insurance industry in Nepal has settled less than 50% of the total COVID-19 claims lodged till date causing huge distress to policyholders leading to government intervention in the matter.
The Insurance Council of Australia (ICA) is looking to overturn a New South Wales Court of Appeal test case decision that found two policy wordings citing the now repealed Quarantine Act 1908 could not be used to exclude cover for disruptions caused by the COVID-19 outbreak.
Insurance industry losses from natural catastrophes and manmade disasters globally amounted to $83bn in 2020, according to Swiss Re Institute's preliminary sigma estimates. This makes it the fifth-costliest year for the industry since 1970.
Governments across Asia undertook a range of containment measures, including increased public health advice and monitoring, restrictions to international travel and national lockdowns. In many countries, all companies barring the most essential were ordered to close, and employees instructed to work from home. While brokers and policyholders are looking for clarity on policy coverage in the event of widepread viral infectious disease, few claims have actually been lodged.
While court cases regarding the denial of pandemic-related business interruption claims by insurers continue globally, insurance brokers can expect to be sued if their clients' claims are denied.
The Society of Insurance Broking UK (SIB) has asked insurance brokers to ensure that public liability insurance policies account for Legionnaires' disease.
The Hong Kong Federation of Insurers (HKFI), organisers of the Hong Kong Insurance Awards 2020, yesterday announced the top three finalists for its 16 award categories.