Thai insurers’ vaccine cover exposed to underwriting risks

spike

Products covering COVID-19 vaccine allergies sold by insurers in Thailand provide an opportunity for business growth, but the insurers must also be mindful of the risks, according to an advisory from international ratings house AM Best.

The insurers, which introduced the products to address vaccine hesitancy among Thais, have also benefited from robust demand for health insurance in 2020 amid the pandemic. However, AM Best reminded insurers to remain on top of their risk exposure, given the uncertainty surrounding loss exposure. The companies, it said, must couple effective risk mitigation and prudent underwriting risk management through appropriate use of reinsurance,

Read More

AM RE underwriting head on “very viable alternative”

spike

Dijak, whose camp has delegated authority from reinsurers in Asia that want to access US business, noted: “We act as a managing general underwriter for quota share reinsurance. We underwrite US-based business primarily in the program space. Fronting carriers have built up over the last three to five years, but they need to be reinsured. So, it’s all about distribution.

“Working in partnership with the fronting carrier allows us to access many niche US programs or MGAs in need of capacity. AM RE manages the entire reinsurance portfolio, from underwriting to claims oversight, for our reinsurance partners. We are their

Read More

Crawford & Co declares two acquisitions

spike

“We are excited to join forces with the team at Praxis Consulting, a leader in the subrogation claims market with over 20 years of recognised experience and proven results,” said Larry Thomas, global president of platform solutions at Crawford. “Their execution capability, depth of expertise and strong client relationships will allow us to increase Crawford’s footprint in the claims ecosystem while delivering quality and expertise to existing and future clients.”

“For 24 years, Praxis has prided itself on providing superior recovery services to a diverse group of partners within the property and casualty insurance industry,” said Robert Ford, founder of

Read More

EU launch antitrust charge to Apple Pay over NFC chip access

spike

The EU has launched an antitrust charge over Apple’s NFC chip technology, people familiar with the matter said, a move that puts it at risk of a possible hefty fine and could force it to open its mobile payment system to rivals.

           EU launch antitrust charge to Apple Pay

The owner of the Apple Pay technology has been in European Union antitrust chief Margrethe Vestager’s crosshairs since June last year when she launched an investigation into Apple Pay.

Preliminary concerns were Apple’s NFC chip which enables tap-and-go payments on iPhones, its terms and conditions on how mobile payment service Apple

Read More