Converting crises into opportunities: the world's insurance community is betting Hong Kong will remain the gateway to the Asian economy

Article Abstract:

Insurers which will confront the risks of Hong Kong's future following its handover to China stand to gain access not only to the mainland but to the rest of Asia. Despite apprehensions over what the future holds after its reunification with China, Hong Kong remains a potentially lucrative insurance market. Subsidiaries of major European, Australian and US insurers make up more than half of insurance firms in the port city. The underwriting performance of the three major classes, general liability, property and casualty, and motor vehicle, which account for over two-thirds of all annual business written are also consistently favorable.

Industry Overview, Hong Kong, Insurance

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Insurance education continues its evolution

Article Abstract:

Insurance education has evolved from basic courses in the early 20th century to 1990s courses that encompass business disciplines such as marketing, finance theory and quantitative analysis. The American Risk and Insurance Assn (ARIA), Risk Theory Seminar and Southern and Western Risk and Insurance associations all sponsor education classes in the specialized field of insurance. The ARIA sponsored a survey of collegiate insurance studies which indicates that 199 higher education institutions have about 26,000 students enrolled in insurance-related courses.

Colleges & Universities, Colleges, Universities, and Professional Schools, Colleges and universities, Universities and colleges, Education, Risk management, Training, Curricula, College curriculum

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Agent's worst nightmare: banks are gaining the edge to sell insurance in a big way

Article Abstract:

Several proposals seeking to define whether and to what extent banks can sell insurance products are available for action by Congress. Insurance agents are, of course, adamantly opposed to allowing banks such rights. Agents and their lobbyist cite concerns about the concentration of economic power, unfair competition and consumer intimidation and confusion as key reasons for their opposition. Additionally, if banks are allowed to sell insurance, it remains unclear how such power will be regulated.

Commercial Banks, Commercial Banking, Banking industry, Laws, regulations and rules, Political activity

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