February 23, 2018

Risk Management

Risk Management
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The New Actuary

Luís Portugal emphasises that the role of the actuary is much more than an auditor to manage risk and uncertainty. The actuarial profession is quite deep-rooted and dates back to the first world congress that was held in Brussels in 1895. There are four big areas of work in actuarial...

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UAV– A New Exposure on the Horizon

Walid Sidani looks at the various factors that need to be taken into consideration while insuring drones. The MENA region is rapidly embracing innovation and automation to drive efficiency and customer satisfaction particularly in the aviation and transportation sector. The commercial use of unmanned aerial systems (UAS), or what are...

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D&O: A New Risk Environment

Alexander Blom and José Martínez look at the trend for companies in the region to become increasingly concerned about their liabilities and risks. Claims against directors and officers outside the United States have grown considerably since the global financial crisis: in frequency, complexity and expense. Increased regulatory activity with global...

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Tear Down the Wall

Risk management programs must address a widening array of IT threats associated with digital business. Integrated risk management is key for breaking down silos, says John Wheeler. Organisations are experiencing risks that have actually translated into significant operational surprises, and it is becoming more challenging to forecast critical risks. Siloed...

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MENA Reinsurers Seek to Diversify

MENA Reinsurance look for alternatives to increase their earnings, according A.M Best’s latest report. Many Middle Eastern economies are now facing challenges as a result of the low oil price environment experienced since the end of 2014, with lower revenue increasing pressure on government finances (as seen by the erosion...

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Innovation is the Insurance against Irrelevance

Insurers are now setting out to adopt automation in their processes and operations– which in many cases means scaling up to deliver more material benefits on simple business processes – as part of expansion efforts. Mohammad Alhawari examines market trends in automation, and how essential a holistic and integrated approach...

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Insuring Bitcoin Transactions

How we purchase goods and services has changed. Just as smartphones are poised to completely replace cash and credit cards, cryptocurrency emerged to become the latest in convenient digital currency transcending geopolitical borders, writes Ramzi Ghurani. Insurance industry trends indicate that cryptocurrency and the technology behind cryptocurrency (blockchain) may completely...

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Brokers at risk

When brought closer to the executive circle, brokers can help show to their client that strategy planning and risk management should not operate in silos, but integrated and managed so that an entity can take more calculated risk to go where its competitors fear, advises Melissa Aoun. As an insurance...

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Reservation of Rights

The Risk Management Society’s latest report on Reservation of Rights helps prepare risk managers to understand, anticipate and respond to unexpected crises. Businesses continually strive to manage the totality of their risks through robust risk management programs that capitalise on financial strength initiatives and utilize weaknesses as potential opportunities for...

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The ‘Other’ Side of GI

Syed Danish Ali sheds light on ‘the other side’ of commercial general insurance and explains why it is seen as so esoteric and mysterious. The oil crisis has certainly shaken the GCC markets. Many companies in the industry realise that they cannot remain addicted to oil revenues and must diversify...

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