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Claims tag returned 62 results

  • 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
  • Over $528m estimated losses caused by 2018 Sydney hailstorms

    The hailstorms which affected the greater Sydney region on 20 December 2018 are estimated to have caused a property insurance market loss of A$766m ($528.9m) according to PERILS's third loss estimate. This third report marks the first time that a detailed market-loss footprint, based on collected insurance loss data, has been made available for an Australian hail event. The estimate also includes the losses from the storm activity in south-eastern Queensland on 21 and 22 December 2018.

    Asia | 20 Jun 2019
  • Philippines: Govt co-op to cover at-risk farms amid deadly animal disease outbreak

    With the Philippines facing the threat of deadly avian influenza (AI) and African swine fever (ASF) outbreaks, local swine and poultry farms receive some relief as they are now able to claim indemnity insurance from the government if their farms are hit by these two animal diseases.

    Asia | 30 May 2019
  • Japan: Public health insurance to cover genome testing for cancer patients

    Japan's public health insurance system is set to cover genomic testing for cancer patients who have not responded to conventional cancer treatments from 1 June onwards, reported The Japan Times citing a recent decision made by the health ministry. Under the new inclusion, patients will only have to pay 10-30% of testing fees.

    Asia | 30 May 2019
  • Australia: Nat CAT costs hits performance of general insurers in Q12019

    Australia's general insurance sector recorded a 32.4% drop in underwriting results to A$2.8bn, due to claims from the Sydney hailstorm and Townsville flood as well as a strengthening of claims reserves in professional indemnity and mortgage classes.

    Asia | 23 May 2019
  • Japan: Non-life insurers maintain positive outlook in the face of Nat CAT losses

    Japanese insurers are under pressure to rebuild their reserves after deploying a sizeable portion in 2018 in what was a severe CAT year for the local market, revealed a new report by AM Best. Japan was rocked by a series of Nat CAT events last year which resulted in significant insured losses with the costliest being Typhoon Jebi.

    Asia | 22 May 2019
  • Australia: Insurance costs to rise due to climate change

    The annual average risk costs of extreme weather and climate change to properties is projected to rise to A$91bn ($63.48bn) per year in 2050 and A$117bn per year in 2100, revealed findings from the Climate Council of Australia's report on the domestic costs of climate change. These costs will be reflected through higher insurance premiums and will primarily impact the same households that will experience the steepest losses in property values due to events caused by climate change.

    Asia | 14 May 2019
  • India: IRDAI directs speedy settlement of cyclone claims as losses could rise to $500m

    Insurance Regulatory and Development Authority of India (IRDAI) has directed general and standalone health insurance companies to ensure that all claims of the affected insured population in the cyclone Fani ravaged Odisha and neighbouring states are surveyed immediately and the payments disbursed at the earliest.

    Asia | 10 May 2019
  • China: Insuring gig economy workers on the radar

    China is deliberating over extending its work injury insurance coverage to gig economy workers, reported local publication China Daily. The Ministry of Human Resources and Social Security announced earlier that it plans to revise work injury insurance regulations given the burgeoning number of casual workers. No further details are provided regarding the plans to date.

    Asia | 09 May 2019
  • US claims administrator's leadership appointments in Asia

    As part of its expansion plans in Asia, Sedgwick has hired senior executives to grow the business in the region. It has appointed Mr James Ong as CEO of Asia, Mr Terry Dunning as head of business development in Asia, Mr Darren Livengood as regional manager for Sedgwick's operations in Japan and Korea and catastrophe manager for Asia as well as Mr Stephen Hope as executive director and head of major and complex losses in Asia.

    Asia | 08 May 2019

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