While the recently circulated draft law on insurance producers is a positive step in diversifying distribution channels and increasing penetration, it does bring to the fore a number of issues, writes Peter Hodgins. Continuing the trend of regulating the distribution channels available to insurance companies, the UAE Insurance Authority has...
Will advancing technology signal the end of the insurance broker’s career? Ramzi Ghurani examines the past, present and future. Insurance brokers hold an essential role at the heart of the insurance industry. However, the ever-evolving roleof technology continues to tighten its grip on the insurance industry leaving many brokers to...
The financial services industry is under constant attack from automated account takeover tools, according a survey by Akamai. According to the Akamai 2018 State of the Internet / Security Credential Stuffing Attacksreport, worldwide malicious login attempts are on the rise. Findings from the report show that Akamai detected approximately 3.2...
Cooperation between regulators is key to enforcing supervisory measures within the insurance industry in an attempt to protect the policy holder, opines Pooja Singh. Traditionally, the purpose of life insurance is to provide for dependents in their time of need or during emergencies. In addition, if the policy holder has...
Does the MENA region provide positive prospects for reinsurers with sound underwriting disciplines? Nabil Ben Azzouz examines opportunities that offer growth in the region. It was a costly year of natural disaster losses as hurricane Harvey, Irma and Maria made landfall in the second half...
A focus on manufacturing and SME sectors with a view to provide access to funding and sustainability. A Premium report. After the initial launch in February 2018, the UAE federal body Etihad Credit Insurance (ECI) has officially begun operations with its preliminary collaboration with the Islamic Corporation for the Insurance...
Ramzi Ghurani looks at the evolution of medical malpractice and its design as a protection system that compensates injury, identifies error and learns from adverse events. The medical profession is one of the most respected professions in the world. Physicians, surgeons, dentists and other healthcare professionals are placed through rigorous...
Are the non-GCC vehicles menace still damaging Insurers? S. Chalapathi Srinivasan looks at the issues that hamper profitability in the motor line of business. Motor insurance market is full of challenges, all the way from pricing, claims, servicing, technology and aggregation! Recently we received some respite on pricing, owing to...
The insurance industry tackled various challenges present with respect to motor insurance policies while deriving working solutions for the future at a recently held event organised by the Insurance Business Group. The Insurance Business Group recently organised a seminar on the topic of “Local Challenges and Global Trends in Motor...
A recent decision of the Abu Dhabi Court of First Instance (CFI) has shed new light on the interpretation of recent legislation governing insurance related disputes in the UAE, write Sam Wakerley, Shane Gibbons and Thomas Neighbour. This article is in reference to Case 1391/2018 and Federal Law No. (3)...
