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Claims tag returned 82 results

  • India: Insurance underwriting may have to rely on proxy measures

    Insurers may have to rely on what are called proxies that are very personal and individually identifiable but at the same time strongly correlated to the risk which they are underwriting, says Mr Yashish Dahiya, CEO and co-founder of insurance aggregator Policybazaar.com.

    Asia | 26 Sep 2019
  • AIR caps insured losses for Typhoon Faxai between $3-7bn

    AIR Worldwide forecasts that insured losses from Typhoon Faxai will be between JPY340bn ($3bn) and JPY740bn. The loss estimates include insured damage to property (residential, commercial, industrial and agricultural/mutual), both structures and their contents as well as automobiles from wind and storm surge.

    Asia | 19 Sep 2019
  • Japan: (Re)insurance losses from Typhoon Faxai expected to be high

    Still reeling from previous Nat CAT losses, Japan was once again struck by another Nat CAT earlier on Monday when the powerful Typhoon Faxai struck Tokyo and nearby regions, signifying a potential for relatively high insurance losses as the country gets ready to host the Rugby World Cup later this month and the 2020 Tokyo Olympics next year.

    Asia | 12 Sep 2019
  • India: Insurer penalised for rejecting mobile phone insurance claim

    State-owned general insurer National Insurance Company has been handed a INR10,000 ($139) penalty by a regional district consumer disputes redressal forum for not paying the claim of a customer whose phone had suffered damages after an accident, reported the Times of India.

    Asia | 06 Sep 2019
  • III addresses growing insurance fraud phenomenon

    The 1st annual certified private insurance investigator seminar was organised by the Insurance Institute of India (III) in Mumbai recently. The event with the theme 'quality investigations = quality results and cost savings in claims management' deliberated on the growing phenomenon of insurance fraud globally and the urgent need for trained personnel to deal with it.

    AIRPlus | 27 Aug 2019
  • Australia: Townsville flooding losses continue to surge

    The revised estimate of the property insurance market loss for the Townsville/northern Queensland flooding event in Australia between 26 January and 10 February 2019 stands at A$1.217bn ($826.4m) according to the third property loss estimate released by PERILS, an independent catastrophe insurance data provider.

    Asia | 14 Aug 2019
  • Japan: Premium rates for auto insurance set to increase by 3%

    Major non-life insurers in Japan are planning to increase automobile insurance premiums by about 3% in January next year, reported local news agency Jiji Press citing industry sources.

    Asia | 06 Aug 2019
  • Singapore: InsurTech to launch cancer insurance

    With cancer being the leading cause of death in Singapore accounting for nearly 30% of deaths every year, Singapore Life is set to offer protection by launching two cancer insurance products on 8 August 2019, the eve of Singapore's 54th National Day.

    Asia | 06 Aug 2019
  • Taiwan: Farmers might receive increased compensation for crop and livestock losses

    The Taiwan government has passed a draft bill to increase insurance coverage for crops and livestock which are damaged by epidemics, pests and natural disasters according to a report from the Taipei Times. The yearly economic costs of such damage averages around NT$10bn ($321.8m) and the bill allows farmers to receive more compensation from insurers as well as government-certified farmers' associations.

    Asia | 22 Jul 2019
  • Cyber attacks hit businesses hard with nearly $5m losses: Study

    Businesses in China, Japan and India are seeing an estimated average loss of nearly 10% of their revenue due to cyber attacks, revealed a new report from global research initiative titled 'The Cybersecurity Imperative'. In fact, annual losses from cyber attacks globally averaged $4.7m in the last fiscal year with over one in 10 firms losing over $10m. This highlights that most companies across industries and regions are witnessing a greater volume of cyber attacks and higher losses per incident.

    Asia | 17 Jul 2019

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