Growing importance of insurance legislation

Magazine Issue:

Magazine date:

Feb 2014

According to Allianz’ barometer, Asian countries are now faced with changing laws governing the insurance industry. They have to cope with the same risks as insurers in developed countries: environmental pollution , cybercrime,...

Used with permission from Microsoft Although most of the risks are known, the lack of qualified technicians to address them stands as an impediment for the processing of these hazards. Asian insurers’ concerns are primarily focused on the following areas: operating losses and lack of suppliers, natural catastrophes, fire and explosion, changing laws and legislation, loss of image, cybercrime, inflation, competition, lack of skilled labor.