Our Scans · (FS.4.00) Insurance · Weekly Summary

• [New] Asia's economic growth and increasing demand for insurance are factors behind the rise in insured losses, but the deeper issue is mounting climate-related risks. Insurance Business
• [New] US insurers are exploring a variety of fixed, private, and alternative investments to diversify their portfolios and mitigate risk. thestockwatcher.com
• [New] Asset-liability management - linked reinsurance solutions are gaining traction in Asia-Pacific, helping insurers minimize duration mismatches and associated interest rate risks. Insurance Business
• Agriculture is expected to slow to 0.5% in 2024, before picking up again to 1.1% next year with higher government support for agricultural credit and insurance and expanded investment in new technologies. Asian Development Bank
• Ports in Asia may experience fewer typhoon-related incidents, enabling insurance companies to adjust premiums in real-time to match elevated risks. Digital Insurance
• The global insurance industry is turning its attention to the risks posed by cryptocurrencies and digital assets, judging by recent product announcements. FinExtra
• Because of the Canada Carbon Rebate, the Government of can take real action to slow down climate change and still protect households from increased costs that climate change will mean for insurance, infrastructure repairs, health care, and more. Yahoo Finance
• Car insurance costs in the UK vary significantly by age group, with younger drivers typically paying the highest premiums due to their increased risk profile. Free Price Compare
• The influx of capital will support Qoala's plan to widen its embedded insurance business across Southeast Asia. Fintech Singapore
• The World Bank assists Indonesia in bolstering its financial response to natural disasters through the Disaster Risk Finance and Insurance Project and Indonesia Infrastructure Financial Facility Project. World Bank
• The property insurance industry is expected to grow from TWD51.8 billion ($1.7 billion) in 2024 to TWD66.8 billion ($2.2 billion) in 2028, in terms of gross written premiums at a compound annual growth rate of 6.5% over 2024-28. Insurance Journal
• The property insurance sector will experience growth, with gross written premiums increasing from TWD51.8 billion ($1.7 billion) in 2024 to TWD66.8 billion ($2.2 billion) by 2028, reflecting a compound annual growth rate of 6.5% over the period from 2024 to 2028. Insurance Business
• Connecticut Sees Growth In Workforce, Emerging Industries | A growing population and a digital direction for the financial and insurance industries could set Connecticut up for business. Business Facilities Magazine
• By 2027, two-thirds of the world's largest organizations will extend directors and officers insurance to cybersecurity leaders, recognizing the personal legal exposure they face due to evolving laws and regulations. InfotechLead
• People should not have to choose between their health and financial support, inadvertently increasing their risk of developing a level of permanent disability that necessitates support under the National Disability Insurance Scheme (NDIS). Insurance Business
• The property and casualty insurance industry is anticipated to post deterioration in homeowners' statutory underwriting performance for the year, with a segment combined ratio projected at 109 in 2023 versus 104.4 in 2022. Insurance Journal
• California's insurance rates have historically been capped due to Proposition 103, which requires insurers to get state approval before raising premiums, and limiting their ability to adjust rates based on projected risks. Digital Insurance
• Coverage will steadily ramp up in 2024, with about 80% of people on commercial insurance covered by the end of the year, and Medicare following in 2025. BioPharma Dive
• Global conflict, supply chain instability, cyber risks, climate events, and migration crises could disrupt benefits delivery and raise healthcare, retirement, and insurance costs. Canada Employee Benefits News and Trends - ebs
• Two-thirds of global 100 organizations are expected to extend directors' and officers' insurance to cybersecurity leaders due to personal legal exposure. Help Net Security
• Insurance broker Aon plc has launched its Climate Risk Monitor, a tool that helps clients visualize and understand their exposures to physical climate risk in order to enable better business decisions. Insurance Journal
• On a global scale, cybersecurity has emerged as a top priority for insurance companies, given the increasing frequency and sophistication of cyber threats. IOL
• Insurance brokers in Australia are increasingly finding customer service a more daunting challenge than securing coverage for natural disasters or cyber threats, as highlighted in a study by insurtech JAVLN. Insurance Business

Last updated: 23 April 2024