Less than one quarter (23%) of the world's largest companies disclose their exposure to biodiversity risks according to a new survey by KPMG.
Over 80% of corporate India fears that business disruptions and uncertainty brought about by the pandemic will lead to rise in fraud cases in the next two years according to Deloitte Touché Tohmatsu India (DTTI) biennial survey. This is 22 percentage point increase over the previous edition of the survey in 2018.
With insurers largely unable to cover pandemics, many countries are considering public-private partnerships (PPP) to help businesses cope with future outbreaks. According to Swiss Re, there are at least 15 PPP pandemic solutions under discussion around the world, including proposals in the US, Canada and Australia.
Climate change has been listed as a risk for the first time in the biannual financial stability report of US Federal Reserve. The report released on 9 November 2020 has cautioned about the potential for abrupt changes in asset values in response to a warming planet.
The pandemic is creating varying levels of market pressures for underwriters in the US professional liability insurance market with many expecting a sizable increase in claims.
There has been a global spike in financial services firms turning to regulatory technology (RegTech), outsourcing and operational resilience solutions for risk and compliance management in the wake of COVID-19.
The hard insurance market should serve as a wake-up call for risk and insurance managers to refocus their efforts on the basics of the profession: Risks, exposures, mitigation and loss prevention, and how to communicate them.
Japan's life insurance market provides insights into the future of insurers elsewhere concerning low interest rates as insurers in Japan have been affected by ultra-low interest rates for much longer than their global peers, Fitch Ratings says in a new report.
According to Fitch Ratings a recent string of defaults due to corporate governance failings in Indonesia's financial industry highlights governance remaining a major risk for creditors and investors.
Beijing headquartered Tianan Life Insurance has chalked up net losses in the last 10 years that totalled CNY10bn ($1.4bn).