The NSW Minns Government has ceased further development in flood-prone areas of Sydney's north-west, a move seen as a strong measure to help protect families and businesses from future flood events.
Japanese insurer Mitsui Sumitomo is preparing to launch an artificial intelligence-powered camera service for home security, potentially bundled with insurance solutions.
Ratings affirmed for MSFC, who have a five-year average combined ratio of 55.6% and strong support from its ultimate parent company MS&AD Insurance Group Holdings.
The IRDAI is enforcing the removal of the arbitration clause for General Insurance retail lines, while prescribing the specific clause to be used for GI commercial lines.
The floods, which occurred between 12 to 28 October 2022, caused record rainfall and led to pluvial and riverine flooding across the Murray-Darling basin of VIC and NSW, and later in Tasmania.
Formerly FPG Insurance, the P&C insurer is expanding its presence in the commercial lines segment and will benefit from the expertise of Starr Group — who became a majority owner in December 2022.
MST Marsh will offer specialist knowledge in commercial business lines, focusing on corporate with annual turnover between ¥30bn and ¥200bn (US$200m - US$1.3bn).
In his 2023 policy address, Hong Kong Chief Executive John Lee announced a series of measures that are likely to be impactful on the insurance industry, including the acceleration of a HK$8 bn (US$1.02...
APAC reinsurers seeing rising premium rates, adequate capital buffers, and improved investment returns — but still face risks, including costlier retrocession and heightened market volatility.
The insurer will test a four-day work week for 250 employees over six months, which will be observed by Macquarie University’s Health and Wellbeing Research Unit — to monitor productivity, employee satisfaction,...
