By Young Jun Lee, QBE Insurance’s head of wholesale Asia for construction and engineering.
Increasingly, projects throughout the region are being delayed or postponed due to the materialisation...
Insurance-linked securities, captives and other alternative capital structures are increasingly important tools for supporting Asia's rising infrastructure risk exposures, the regulator said.
The Cologne-based executive takes charge of underwriting strategy across Europe, Asia and Australia, stepping up from the insurer's German underwriting operation.
Markel APAC head Sucheng Chang aims to nearly double the regional book within five years, with recent expansion setting the pace and new opportunities in view.
Insurers have so far counted US$170m in preliminary claims, but the country may need up to US$5bn, or around 10% of GDP, to rebuild after the disaster.
Roof tiles have risen 77% in five years and Queensland build costs went up around 45% since 2021, with insurers receiving 409,094 home claims worth A$11.3bn (US$8.1bn) since 2022, according to ICA fig...
International reinsurers will take a significant share of what is covered, with hydropower plants, engineering projects and commercial property along the China trade corridor driving most claims.
Designed for tunnel owners, developers and contractors, the cover funds specialist rescue and crisis-response operations following major underground incidents.
