Understanding how to look at medical data is an important function, which often involves the use of appropriate analytical tools, writes Raghav Ohri. Health insurance companies in the UAE are operating in an environment of extreme competition and changing regulation. The onset of new legislation in Dubai mandates provision of...
Thomas Bicknell explains some rules of conduct for insurers when formulating policy documentation. The formulation of policy wording requires the input of multiple, often competing, stakeholders. The result represents a compromise of risk exposure, legal considerations and straightforward product marketability. The parties to the policy find themselves with a document...
2015 will prove to be a year of growth for the reinsurance industry, although there are a few challenges to be expected, writes Hassan Elamin. Growth in the Middle East and North Africa (MENA) region has remained slow throughout 2014 as a result of weakened domestic and external demand and...
Dilip Hiremath discusses the importance of factoring in cross-border trade transactions where trade credit insurance may not seem viable. Over the last two decades, most parts of Europe have been conducting less than 10 percent of their cross-border trade transactions under Documentary credit or Letters of Credit (LCs). Interestingly, during...
Trade credit takaful provides the perfect alternative for those who seek Shari’ah-compliant trade credit insurance, offers Muhammad Al-Bashir Muhammad Al-Amine. Despite the remarkable growth trade credit insurance industry in the region in recent years, the noticeable missing component is trade credit takaful. However, it is strongly believed that the development...
Solvency II, while progressing in its regulatory course, will have a range of impacts among insurers, according to A.M. Best. A Premium report. Most stakeholders initially welcomed the Solvency II project, but enthusiasm for an insurance regulatory framework that would be risk-based, promote an efficient market and harmonise regulation across...
New risks and stronger economic development will drive liability claims costs, says latest Swiss Re sigma study The Middle East is seeing a lot of regulatory changes in recent times. This is reflective of the global scenario as well. A number of technological, social, and regulatory changes will drive liability...
Medication errors are commonplace. Catching them is not–until now, according to Dale Brown. Dubai’s recently launched mandatory medical insurance strategy is poised to revamp healthcare in Dubai with the support of new online tools, such as e-prescribing for physicians and pharmacists. Ultimately, these innovative tools will enable Dubai to achieve...
David Phillips reiterates why businesses need to be insured and explains how it works within a trade transaction. Having spent 40 years in the logistics industry, I am still amazed at the lack of understanding of the importance of having an adequate insurance policy. Our community is growing and the...
The management of environmental, social and governance factors can have a huge role to play in the sustainable development and health of the insurance industry, affirms from Suresh Nair, Executive Director, Gargash Insurance, UAE The Insurance industry works on the premise of charging ‘adequate’ premium for the risk exposures being underwritten. Exposures...
