Emerging risks | Growth Opportunities | APAC Insurance
Saturday, July 27, 2024
Emerging risks | Growth Opportunities | APAC Insurance
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Saturday, 27 July 2024
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Formality of Legislative Council's negative vetting to occur on 8 May, with changes expected to go live on 1 July 2024.
NSW Government launches Netstrata review following allegations of excessive insurance brokerage fees
Review launches amid broader concerns of systemic issues in strata insurance, highlighted by recent ACIL survey.
NT$28.55bn (US$878m) allocated with a focus on public infrastructure, private homes, and economic revitalisation.
New data from the General Insurance Code Governance Committee shows a continued uptick in code breaches.
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(Re)in Focus
“Government intervention in the reinsurance markets created complacency among local reinsurers, and led to a reduction in the quality of business being underwritten.”
“Facilitating cross-border reinsurance capital flows fosters market stability, enhances competitive dynamics, and, in turn, affords insureds enhanced access to global best practices.”
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“The Christchurch earthquake is a very good example of the benefits of open reinsurance markets.”
“Our aim is to be the best and biggest eventually.”
“This pushes domestic insurers to focus on underwriting, risk selection, as well as how they manage claims and reserving.”
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(Re)in Focus
“We are looking at more complicated risk because that is where we feel we can provide the best services for our clients.”
“If we’re introducing UBI through a digital device with the right product features, I think (consumers) will latch on to it very quickly.”
“The nature of the perils is completely different, the fact that cyber is a man-made peril brings a completely different set of considerations.”
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