Singapore working on better protections for gig workers

spike

The committee, which was announced by Prime Minister Lee Hsien Loong at the National Day Rally last month, aims to address three key issues for gig workers: retirement and housing adequacy, adequate financial protection in case of work injury, and narrowing the gap in bargaining power between the workers and the platforms they work for.

The committee has 15 members, consisting of representatives from the government, industry, the labour movement and academia.

Many gig economy workers are on the road often, ferrying passengers or cargo, exposing them to greater risk of accidents and injury. Worldwide, many gig economy companies have

Read More

Willis Towers Watson upgrades strategic asset allocation software

spike

Willis Towers Watson has launched the latest version of its strategic asset allocation software, Optimum SAA.

Optimum SAA is a cloud-based application that helps insurers and wealth management companies find their optimal asset allocation weightings to achieve better risk management and investment return.

In a statement, Willis Towers Watson said Optimum SAA uses “superior modelling and stable optimisation techniques to help companies better understand their current asset allocation position and to determine the optimised asset allocation within set constraints.”

“Drawing on over 30 years of assumptions committee experience and robust processes for producing asset return assumptions, Willis Towers Watson Optimum

Read More

Liberty GTS issues M&A claims report

spike

  • COVID-19 has not led to the predicted surge in “buyer’s remorse” claims – but it has fundamentally changed the M&A risk landscape
  • Claims are being made more quickly after policy inception. Fifty-seven per cent (57%) of claims were made in the first 12 months of the policy period in 2020, up from 48% in 2019
  • Medium-severity claims (US$1 million to US$10 million) were Liberty GTS’s fastest-growing type of notification in 2020, with the number of claims in that category nearly doubling over 2019. The company saw a slight drop in the number of high-severity claims (US$10 million
Read More

SEC whistleblower payouts top $1 billion

spike

OK. Bare with me a second on this, its not strictly a payments piece, but you should see my point by the end.

SEC whistle blower payouts top $1 billion

The Securities and Exchange Commission (SEC) says the total amount of payouts it had made to whistle blowers has topped $1 billion after the financial watchdog issued its second-largest ever award to a person for flagging wrongdoing.

The SEC said one person was paid a combined $110 million for information and assistance that led to successful enforcement actions by the SEC and other entities.

About $40 million of that payout

Read More