May 2011

Talk Around the Bazaar

Now that we are a third of the way through the year, analysts have had the time and resources to look at 2010. As usual, fewer can do it better than Aon Benfield and their report can be accessed at http://www.aon.com/attachments/reinsurance/180411_aba_fy_2010.pdf

It is now one year ago since the Deep Water Horizon incident occurred. A lot has been said and emotions have run high, but what has happened since then? CBS takes a look for you at http://www.cbsnews.com/stories/2011/04/20/earlyshow/contributors/debbyeturner/main20055655.shtml?tag=cbsnewsLeadStoriesArea

Fitch Ratings has an excellent knowledge base with an up to date round up of special reports, industry trends and further research at http://www.magnetmail.net/actions/email_web_version.cfm?recipient_id=175269823&message_id=1319359&user_id=Fitch&group_id=613224 You have to sign in but it is free and easy

Standard & Poor’s has recently reported positive advances and good long term prospects for the development of insurance markets in three Maghreb countries: Algeria, Morocco and Tunisia. This can be accessed at: http://www.standardandpoors.com/prot/ratings/articles/en/eu/?assetID=1245301364130

If you want to know more about the Maghreb, Wikipedia can help at http://en.wikipedia.org/wiki/Maghreb

The Australian government has released a draft standard definition of Flood. This was deemed necessary after the confusion amongst claimants who were confronted with small print in their policies. ABC News discusses this at http://www.abc.net.au/news/stories/2011/04/05/3182980.htm

PriceWaterhouseCoopers has released a whitepaper on healthcare access and healthcare insurance in India. This lucid report provides interesting facts and statistics and is available at http://www.pwc.com/in/en/publications/publications-2011/Healthcare-Unwired.jhtml

It is not too late to register for the 12th Asian Conference on Bancassurance and Alternative Distribution Channels being held in Singapore. In Asia, bancassurance has become very important and with new technology and media, consumer buying patterns are changing. More information is at http://www.asiainsurancereview.com/pages/conference_details.asp?id=169

Chances are that the Indian delegation to the Conference on Bancassurance and Alternative Distribution Channels will be a large one: the subject is hotting up in India as Kampus Online explains in their article http://www.kni.in/news/news_detail.aspx?id=48616 

Kampus Online really has their finger on the pulse with a newsy article on the Thai government’s push for farmers and insurers to take part in a rice insurance scheme. For details, see http://www.kni.in/news/news_detail.aspx?id=48633

Following the earthquakes and tsunamis occurring around the Pacific, finance ministers of the ASEAN countries plan to develop a regional disaster and catastrophe insurance fund. The discussions instigated by Indonesia are well documented by Artemis in http://www.artemis.bm/blog/2011/04/11/asean-nations-to-progress-with-plans-for-disaster-insurance-fund/

 For more information about ASEAN, its history, goals, etc, please see http://www.aseansec.org/

With the proposed demise of the Financial Services Authority (FSA, www.fsa.gov.uk), two of its successors, the Prudential Regulatory Authority and the Financial Conduct Authority (the new name for the Consumer Protection and Markets Authority, CPMA) are being set up. The London Market is facing some complicated challenges. There were warnings in February as explained by Informed Choice, an independent financial adviser in their article, http://www.icl-ifa.co.uk/2011/02/fsa-cpma-fca/ and subsequently ISN and the International Underwriting Association (IUA, www.iua.co.uk)  come up with their views at http://www.isn-inc.com/news/news.aspx?nid=2765&cid=4

For those of our readers who are thinking of where they should have their second home, the Daily Telegraph can help with their article on the best places to live (and dream…) http://www.telegraph.co.uk/property/expatproperty/8448373/International-property-estate-agents-choices.html

Did you know? Here are some interesting facts which could come in handy to know…

  • Apollo 11 had only 20 seconds of fuel left when it landed
  • 0.03 per cent of all traffic accidents in Canada involve a moose