“Liability risks are significant. The hard costs involved, as well as the extensive reputational damage could bring a business to its knees. Therefore, business owners need to think above and beyond the cost of covering the third party’s immediate…
“Since appointing John as CEO in 2018, he has made a tremendous contribution to Lloyd’s. Today we see excellent performance at Lloyd’s, real strategic intent and execution, and an industry-leading voice that is valued by governments, regulators…
“Given the complexities, insurance advisers play an important role in helping businesses choose the right policy features. They can also assist in determining the level of cover required, which will ensure businesses don’t end up overpaying…
“We are pleased to welcome Portugal ASF as a signatory to the MMoU. As we have experienced over the past years of social and economic challenges, there are enormous benefits to the global insurance sector when supervisors are able to cooperate…
The IAIS says it undertakes a robust assessment of the comprehensive and consistent implementation of the Holistic Framework related supervisory material, which has included 16 major insurance market jurisdictions, comprising around two-thirds…
King Price Insurance's client experience partner, Wynand van Vuuren, explains the difference between 'break-ins' and 'robberies': A break-in is unlawful access with criminal intent whereas robbery is direct interaction between criminals and…
"The litigation landscape and enforcement are increasingly stringent, and we are seeing regulatory bodies across the globe step up scrutiny of corporate conduct, making D&Os more vulnerable to investigations, penalties and lawsuits," says Vanessa…
“The adoption of the ICS and these updated standards represent a pivotal moment for the global insurance sector. Taken together they will better safeguard the interests of policyholders and enhance financial stability at a time when a strong…
“The winners represent a commitment to demonstrating innovation, leadership, and excellence that sets the standard for F&I professionals across the country,” said Brandon Cohen, Chairperson of NADA, the National Automobile Dealers Association.
"Business Email Compromise is a sophisticated form of cybercrime that targets organisations by infiltrating their email systems to initiate unauthorised transactions. A common tactic involves altering banking details on legitimate invoices,"…
“’Insurance in a Box’ is an innovative insurance solution that addresses many of the challenges of why insurance penetration and financial inclusion remain challenging in African markets - namely access and distribution, affordability, technology,…
“The insurance industry is consistently tracking emerging risks. We recently noticed a trend where fraudsters are targeting insurance companies using social engineering to obtain policyholder information. The fraudster poses as a client or broker…
"These increasing loss trends are influencing insurers' perspectives on issues such as capacity deployment, especially in the US, and the profitability of both older and future underwriting years. Collaboration among stakeholders is crucial…
"Arriving at an agreement on a global Insurance Capital Standard as a prescribed capital requirement is a landmark achievement for the IAIS. This decision reflects our unwavering commitment to enhancing global insurance supervision and ensuring…
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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