The Chinese property insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 12...
South Korea: Govt to allocate nearly US$190bn to trade insurance in 2024
The Ministry of Trade, Industry and Energy has announced that the government would inject a record amount of KRW255tn ($189.4bn) in trade insurance this year to...
The Ministry of Trade, Industry and Energy has announced that the government would inject a record amount of KRW255tn ($189.4bn) in trade insurance this year to...
Article / 3 days ago
Australia: Several factors could restrict BI cover of businesses hit by Optus outage
The outage involving telecommunications company Optus' services on 8 November 2023 led to widespread disruption to Australian businesses who...
The outage involving telecommunications company Optus' services on 8 November 2023 led to widespread disruption to Australian businesses who...
Article / 5 months ago
GCC: Late rush of claims expected to be litigated ahead of March limitation period
The last flow of business interruption claims stemming from COVID-19-related lockdowns in the Gulf Cooperation Council region can be expected between...
The last flow of business interruption claims stemming from COVID-19-related lockdowns in the Gulf Cooperation Council region can be expected between...
Article / 1 year ago
Philippines: Insurance sector pays cumulative US$353m in COVID-related claims since start of pandemic
The insurance industry has already released almost PHP20.82bn ($353m) in total COVID payouts to policyholders who were infected...
The insurance industry has already released almost PHP20.82bn ($353m) in total COVID payouts to policyholders who were infected...
Article / 1 year ago
Australia: COVID-related BI cases lead general insurers to self-assess risk management frameworks
The Australian Prudential Regulation Authority (APRA) has sought to ensure that the insurers learn the lessons from Business Interruption (BI) insurance...
The Australian Prudential Regulation Authority (APRA) has sought to ensure that the insurers learn the lessons from Business Interruption (BI) insurance...
Article / 2 years ago
Japan: Non-life insurers suspend new business and renewals for firms that operate in Russia
Japanese non-life insurers have suspended undertaking new contracts entirely with domestic firms that operate in Russia...
Japanese non-life insurers have suspended undertaking new contracts entirely with domestic firms that operate in Russia...
Article / 2 years ago
Thailand: Licences of 2 insurers revoked under COVID-19 claims burden
The Finance Minister has revoked the business licences of two insurers -- Southeast Insurance and Thai Insurance...
The Finance Minister has revoked the business licences of two insurers -- Southeast Insurance and Thai Insurance...
Article / 2 years ago
India Virtual Rendezvous points to urgent need to bridge BI insurance gap
The ongoing COVID-19 pandemic has exposed massive business interruption (BI) protection gaps, highlighting a fundamental...
The ongoing COVID-19 pandemic has exposed massive business interruption (BI) protection gaps, highlighting a fundamental...
Article / 2 years ago
New Zealand: Insurers find Material Damage & BI branch profitable -- Crombie Lockwood
The Material Damage & Business Interruption branch remains largely profitable for insurers in New Zealand...
The Material Damage & Business Interruption branch remains largely profitable for insurers in New Zealand...
Article / 2 years ago
New Zealand: Insurance market is healthy and stable -- Crombie Lockwood
Overall, the New Zealand insurance market is in good health and stable, says insurance broking firm Crombie Lockwood...
Overall, the New Zealand insurance market is in good health and stable, says insurance broking firm Crombie Lockwood...
Article / 2 years ago