South Korea’s National Police Agency has embarked on a nationwide, nine-month operation aimed at curbing the escalating financial losses in the country’s insurance sector. The initiative strengthens government efforts to dismantle organised insurance fraud rings, which experts warn pose significant risks to market stability and consumer trust. The operation, running from 2 February to 31 […]

The global cargo insurance market is confronting a rapidly evolving risk landscape, as theft and transport-related fraud within international supply chains become increasingly sophisticated. Loss patterns are shifting in both nature and scale, compelling insurers to reassess underwriting strategies, risk management frameworks and security controls. What was once a largely physical threat has now expanded […]

The Hong Kong Insurance Authority (HKIA) has reported that approximately 85 per cent of insurance claims arising from the Wang Fuk Court fire have now been settled. Out of a total of 1,218 claims, 1,032 have been closed, with around USD 66.3 million (HKD 510 million) paid to affected policyholders. The remaining 156 claims are […]