Live Insurance News

China set to launch new deposit insurance initiative

December 4, 2014December 1, 2014 Nordstrom

New insurance initiative may provide depositors with some much needed protection China is launching a new deposit insurance initiative. The initiative is meant to protect depositors from the financial risks they face in the current economic climate. The insurance coverage provided to depositors will serve as a safety net from the losses they see when a bank fails to pay its own debts. A new insurance agency is being formed as part of this initiative and will be responsible for providing coverage to financial institutions operating in China. Banks will…

Munich Re makes a move on marine insurance

October 1, 2014September 29, 2014 Nordstrom

Reinsurer is moving its marine insurance underwriting to Hong Kong Munich Re, one of the world’s leading reinsurance companies, is beginning to consolidate its marine businesses and has chosen Hong Kong as the center for its underwriting in the Asia Pacific region. The company is following a trend that has seen many insurance and reinsurance companies separate their marine businesses from the traditional property casualty sector. Companies are beginning to be affected in changes in the marine sector and are looking to provide better coverage options to organizations that need…

China’s insurance industry is booming

July 10, 2014July 8, 2014 Marc

Insurers in China will likely find more success in the coming years China’s insurance industry has been experiencing rapid growth over the past few years and this growth is expected to accelerate, according to the China Insurance Regulatory Commission. As consumers throughout the country become more affluent, the demand for insurance coverage is beginning to rise. More people are purchasing coverage and insurers are pulling in more revenue from premiums. These premiums are likely to account for a significant portion of China’s gross domestic product in the coming years. Report…

Premiums set to grow throughout the insurance industry

July 2, 2013July 1, 2013 Logan B.

Swiss Re reports on the state of the insurance industry Swiss Re, a leading global reinsurance firm, has released a new report concerning the state of the insurance industry and the cost of coverage. The global insurance industry has been seeing a great deal of activity recently, some of which has been considered somewhat negative. The negative issues that the industry has had to deal with are largely associated with powerful natural disasters that have occurred in some parts of the world in recent months. The report shows that natural…

Health insurance industry shows concern for H7N9 flu virus

April 18, 2013April 17, 2013 Logan B.

Health insurance companies are wary of new flu virus Last month, a new strain of the flu virus, dubbed H7N9, emerged in China. Since the emergence of the new flu strain, some 71 individuals have been diagnosed with H7N9 and 13 have reportedly died from the virus. The virus has caused many to recall the H1N1 influenza pandemic of 2009, which proved to be a particularly serious health concern for many people throughout Asia and served as a monumental challenge to the global health insurance industry. Kwiksure, a leading insurance…