UN Secretary-General wants action from insurance sector

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In the UN Secretary-General’s view, global carbon neutrality must be achieved within the next three decades, global finance has to be aligned behind the Paris Agreement, and a breakthrough on adaptation needs to be delivered to protect the world from climate impacts.

“As insurers and as investors, the insurance sector has a key role to play,” stated Guterres in his speech. “Every country, city, financial institution, and company needs to adopt plans for transitioning to net-zero emissions by 2050. That means taking decisive action now.

“Insurance companies control over US$35 trillion of assets under management. I encourage the insurance industry

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AGCS unveils global head of aviation claims

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Allianz Global Corporate & Specialty (AGCS) has announced the promotion of Cristina Schoen to global head of aviation claims. Schoen previously served as director of airline claims for the US, a role she will retain in addition to her new one. In her new role, Schoen will report to Jim Turano, regional head of long-tail claims for North America, and Jörg Ahrens, global head of key case management (long tail).

Schoen began her stint at AGCS as senior coverage counsel and progressively moved to roles of increasing responsibility. Prior to joining Allianz, she led the airline claims division of United

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Elderly hard-hit by insurance premium hikes

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Paul Selvaraj, FOMCA’s secretary-general, said that senior citizens often rely on their savings to meet daily expenses. These savings are usually from the Employees Provident Fund (EPF).

However, more than 50% of EPF contributors over age 54 have savings below MYR50,000 (SG$16,000), while two-thirds (67%) do not have a minimum of MYR240,000.

Rising costs of living, coupled with increasing insurance premiums, are placing financial strain on senior citizens, he argued.

“The sharp and unjustified increases by the insurance companies put pressure on senior citizens to lapse in paying their premiums and thus they lose their coverage,” Selvaraj said, as reported

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Open Banking Readiness Index: An in-depth pan-European study

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We are delighted to offer you the chance to download the Open Banking Readiness Index: The Future of Open Banking in Europe, a new, ground-breaking study into the development of Open Banking in Europe.

Open Banking Readiness Index

Four years ago, the UK launched its Open Banking initiative, followed swiftly by the EU with its Second Payment Services Directive (PSD2) in January 2018.

Now we’ve joined forces with Mastercard, a global payments technology leader, to create the first in-depth study into how Open Banking is developing across ten major European markets.

Powered by our exclusive research and Mastercard’s global

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