In the first five months of 2020, the number of Export-Import Bank of Thailand's (EXIM Thailand) export insurance clients that have filed documents on foreign buyers' delayed payment has surged by 195%, bringing the total outstanding overdue amount to more than THB617.33m ($20m).
Two big typhoons hit Asia in the space of a week - typhoon Vongfong made landfall in the Philippines and typhoon Amphan hit the South Asia region in early May.
Flood risks have been a thorn in Asia's side for many decades. The effects of climate change have only exacerbated those risks, increasing the amount of damage and losses caused by floods.
Markel International has recently appointed Bo Yu as Claims Lead for Asia.
AIA Singapore has announced enhancements for AIA HealthShield Gold Max plans, including the extension of claims pre-authorisation to cover all non-emergency admissions and day surgeries at all private hospitals and healthcare providers across Singapore.
Lloyd's of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus. This would help the insurance market understand its possible overall losses from the impact of the pandemic.
Pan-Asia Risk & Insurance Management Association (PARIMA) chairman and group deputy director, risk management and insurance at International SOS Franck Baron has called upon risk managers to stress test their insurance programmes to assess how coverage may be triggered for losses caused by coronavirus (Covid-19).
An investigation by the administrator of the Life Insurance Code of Practice has found many insurers breached their commitment to process insurance claims and requests for reviews within certain timeframes.
Independent claims specialist Cunningham Lindsey Philippines has officially rebranded itself as Total Claims Specialists (TCS) with a view to continuing its expansion within the Philippines and overseas.
The General Insurance Association of Singapore (GIA Singapore) and Life Insurance Association, Singapore (LIA Singapore) today clarified member companies' coverage for medical expenses relating to the 2019 Novel Coronavirus (2019-nCoV).