Cyber insurance can be quite confusing for potential clients. Insurance companies should understand the risks completely before they set out to sell this line of business, notes Gary Hibberd. According to research conducted by Garter Inc in 2016, spending on cyber security will exceed USD170 billion by 2020. This spend...
In the light of consequences of climate change, Parametric insurance assumes prominence, write Thameur Zghal and Violaine Raybaud. Parametric Insurance, also called Indicial Insurance, was first introduced in the early 1990’s as an alternative to classical Crop Insurance solutions. Indeed, Parametric Insurance was easier to implement and offered a cheaper...
Will Life insurance undergo a major revamp with the recently issued Circular 33? Premium takes a look at what is new and what industry stakeholders had to say about it. The Insurance Authority recently issued a circular on regulations for Life Insurance and Family Takaful business in the UAE. The...
Energy insurers and reinsurers now need to maintain their current portfolio and multiply business lines on existing accounts whenever possible, affirms Nabil Azzouz. Current volatility in the oil and gas industry has had significant impact on the domestic economy of oil and gas producing countries and their Gross Domestic Product...
Dennis Sebastian argues the case for implementing a payment system focused on value-based healthcare, rather than the volume-based model that is being practiced. Value-Based Payment (VBP) is a revolutionary system that pays Providers/Physicians for quality and outcomes, and not quantity or amount of care they provide. The Model aims to...
Oussama Kaissi, chief executive officer of The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the export credit, political risk insurance and credit enhancement arm of the Islamic Development Bank Group and the secretary general of the AMAN UNION, and Karim Nasrallah, general manager of Lebanese Credit...
Insurers in the MENA region need to consider a new co-opetition business model to incorporate the volatility of weather changes, write Tom Larsen and Maiclaire Bolton. The Middle East and North Africa (MENA) region has been recognised as a leader in population and economic growth, and projections expect the region...
The market is now looking for legal premises that govern the Internet of Things and data protection. A Premium report. According to Gartner, there are an estimated 6.4 billion connected devices in 2016 and this number is set to increase between 30 and 40 billion by 2020. “The information captured...
Reduced oil prices have led to a cascading effect of price cuts and taxations. The thirteenth Gulf Insurance Forum focused on diversification from oil and alternative strategies for gaining yields in the business. A Premium report. “The impact of the deterioration of oil prices has been seen on expenditure levels....
A.M. Best took a look at various trends in the regional and global reinsurance industry, with recommendations to the local players. A Premium report. Ratings agency A.M. Best recently held a reinsurance briefing for the MENA market in Dubai. Much of the discussion focused on the growth of the insurance...
