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With our best-selling course Start-a-Enterprise one hundred and one. Severability. If any a part of this agreement to arbitrate is found by a courtroom of competent jurisdiction to be unenforceable, the court will reform the settlement to the extent essential to treatment the unenforceable part(s), and the events will arbitrate their Dispute(s) without reference to or reliance upon the unenforceable half(s). Nevertheless, if for any reason the Class Motion Waiver set forth beneath in subsection 14.3.c cannot be enforced as to some or all the Dispute, then the settlement to arbitrate is not going to apply to that Dispute or … Read More

Hong Kong insurance regulator says “exciting” opportunities are ahead

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According to the IA, new office premiums of long-term business grew 22.9% year on year to HK$80.5 billion (SG$14.05 billion) in the first half of 2021. This was despite the loss of business from Mainland Chinese visitors, which contributed significantly to the industry’s income in past years. The IA said the growth reflected the resilience and resourcefulness of the industry and its stakeholders.

Other positive developments touted by the regulator were insurance giant Prudential’s recent decision to raise capital in Hong Kong and a state-owned reinsurer’s plan to issue insurance-linked securities in the city. 

“[These] are also clear votes of

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S&P reports uptick in demand for cyber insurance

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Given the boom in digitalisation, the report predicts a rise in prices in the cyber re/insurance market between 2021 and 2023 as it expects insurers to continue restructuring their cyber insurance offerings, including increasing rates and adjusting their T&Cs, particularly the exclusions. Some insurers might also further reduce their payout limits, especially where contracts include ransomware or business interruption components.

On the bright side, S&P claimed that reinsurers’ expertise in underwriting and modelling could help build up the market, noting that primary insurers already pass approximately 35% to 45% of global cyber premium to reinsurers and rely on them for

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Allianz Suisse Life completes reinsurance transaction with Resolution Re

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The reinsured business is a closed-book of policies that are in run-off, with no new business and comprises CHF4.0 billion (around NZ$6.23 billion) in total liabilities. The reinsurance transaction has been approved by the Swiss Financial Market Supervisory Authority (FINMA) and covers market risks and insurance risks.

In a Press release from Resolution Life, it was noted that Allianz Suisse will continue to service the reinsured business, while Resolution Re and Allianz Suisse will work together for the advantage of policyholders, as well as the continued successful management of the reinsured policies.

Combined with Resolution Life’s Bermuda reinsurance base, Resolution

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