Insurance regulatory updates

Hong Kong

Insurance Authority welcomes the reappointment of Chief Executive Officer

Singapore

MAS Commits S$250 Million to Accelerate Innovation and Technology Adoption in Financial Sector

China

CBIRC Releases Supervisory Statistics of the Banking and Insurance Sectors for 2020 Q2


Insurance cases

Swashplate Pty Ltd v Liberty Mutual Insurance Company trading as Liberty International Underwriters [2020] FCAFC 137
Full Federal Court of Australia – 13 August 2020 

Construction of commercial insurance contracts – insurance facility arrangement with broker – A successful appeal from a decision of the Federal Court where the primary judge found appellant not entitled to indemnity – The court found against the insurer: 1. The construction proposed by the insurer for a placement slip was fundamentally different to that provided by the facility; 2. It might also ‘denude’ the insurance of its primary commercial purpose.

Insurance news

Marsh Australia CEO takes Asia and Pacific role

QBE’s Regan bullish on premium rises despite H1 loss

AIG unveils new general insurance CEO

Zurich takes 40% drop as it releases latest financial results

Tesla creates insurance broking firm in China

Willis Towers Watson promotes executive to Global Fac team

Sun Life opens in Singapore with Belinda Au as CEO

India: InsurTech launches all-encompassing policy that includes COVID-19 coverage

Insurance body launches COVID-19 business interruption test case

*Hong Kong, Singapore, China, Malaysia, Vietnam, Thailand and Australia.