New data shows a repeat of historic weather events would break records and be far costlier; the Insurance Council of Australia is urging for more to be done.
Hong Kong's Insurance Authority has called on insurers for swift, transparent, and equitable settlement of claims following the unprecedented devastation caused by heavy rains which followed Super Typhoon...
Bigmotor and Sompo face imminent inspection by Japan's financial watchdog, as part of an investigation into fraudulent claims made by the user-car dealership.
Despite advances in safety measures and culture, a repeat of the earthquake would cause economic loss of US$331bn and insurance losses around US$140bn, according to Moody's RMS and Swiss Re.
The 'General Insurance Claims Handling' framework is an industry-wide collaboration driven by ANZIIF in partnership with ASIC and insurance industry bodies.
Local media reports show that over the past five years, Korean insurance companies have experienced a tripling of claims payouts and a more than fourfold rise in the number of claims.
