With the onset of BOD-49 comes time for change, writes Ashok Sardana. With everything that has been thrown at us in 2020, it should come as no surprise that as an industry we are facing yet another new challenge. With the onset of BOD-49 coming into effect after a six-month...
The BOD-49 regulations have given bancassurance practitioners an opportunity to lend more transparency for the end user, helping them make an informed decision, writes Hasheer Kottal. The BOD-49 is a well thought-out set of rules that has been drafted primarily to protect the interests of insurance customers. The UAE Insurance...
Matthew Burnard analyses key trends in the region and their impact on the insurance industry. Current political developments such as the US-Iran rivalry, the United Arab Emirates (UAE) and Bahrain’s normalisation of relations with Israel, the Qatar diplomatic crisis and the coronavirus pandemic – what do they mean for the...
Simon Peter D. Isgar examines recent legal developments in Business Interruption Insurance and notes coverage issues and wider implications, perhaps, for the Middle East. The English High Court had recently handed down a judgement in a test case related to “Business Interruption” (BI) insurance in the context of the COVID-19...
The 15th Annual Health Insurance Forum discussed many positive strategies to build resilience and sustainability within the health insurance business. A Premium report. “The data shows that the value of compensation paid by the insurance companies in the UAE for claims related to COVID-19 amounted to more than AED588 million...
The Lebanese insurance sector is ripe for change and the recent explosion incident at the Beirut may herald reform, according to experts. The General Arab Insurance Federation recently held a webinar and panel discussion of experts from different fields of the insurance business to discuss impact, claims settlement and more...
Suresh Nair takes a look at changes that could impact the insurance industry with the advent of large scale genetic testing. The Human Genome Project (1990 – 2003) is considered one of the most ambitious scientific ventures ever undertaken. The project succeeded in sequencing (determining the exact order of) almost...
From forensics to archaeology to finding out if the Loch Ness Monster exists, DNA analysis is now a mainstream practice. So what does this mean for health care and health care insurers, asks Dr. Charu Thadani. Last year, researchers from the University of Otago in New Zealand announced that the...
Syed Danish Ali looks at the impact for insurance and examines how actuaries can contribute to risk management during the pandemic. This article explores COVID-19 that has been termed as greater than the 2008-09 crisis by the IMF[1] and its impact on Insurance Sector. Lockdowns pursued aggressively in Q2 2020...
Insurers’ need for digital modernisation is now more crucial than ever, Assad El Saadi remarks. If there’s one thing that the current health crisis has illustrated, it’s just how essential technology — from video conferencing and online collaboration tools to cloud data storage solutions — is to maintaining smooth business...
