Australian Insurance Law Association’s Post

Exciting news for Romanian companies! 🚀 We're thrilled to unveil our exclusive Directors and Officers insurance offer in in strategic cooperation with Tokio Marine HCC - Financial Lines and RENOMIA.   Key Highlights: ✅ Mandatory Compliance: For Romanian joint stock companies, our D&O Insurance ensures not only compliance with Romanian regulations but also provides comprehensive protection for your business leaders. 💼 Tailored for Romania: Recognizing the unique challenges of the Romanian business landscape, our coverage is designed to meet the specific needs of small and mid-size companies.   Why Choose Us: 🤝 Trusted Partners: Collaboration with Tokio Marine HCC - Financial Lines and RENOMIA, industry leaders in CEE. ✅ Compliance Assurance: Our coverage ensures adherence to Romanian regulations. 🎯 Customized Protection: Tailored solutions addressing the distinctive needs of small and mid-size companies.   📩 Contact us today to explore how our exclusive offer can safeguard your business leaders and ensure compliance - Dan Ungureanu and Valentin Enescu are always available for you.   Let's secure the success of your business together! 🌟   #DandOInsurance #D&O #SecureYourSuccess #RomaniaBusiness #TMHCC_FL

Dear all In less than 40 days, Sarajevo and Bosnia and Herzegovina will host one of the most significant regional insurance events in 2024. Once more, on behalf of Agencija za nadzor osiguranja Federacije Bosne i Hercegovine, we proudly announce co-hosting with Actuarial Association BH the “2024 CEE & SEE Regional Actuarial Conference and 2nd Congress of Actuaries du Monde”, which will be held on May 30 and 31, 2024, in Sarajevo (Hotel Europe, Sarajevo), under the auspices of Association Actuaires du Monde - Actuaries of the World This conference is specifically tailored for the financial, insurance, and actuarial community of the Balkan Region and beyond. It is important to note that this is not solely an actuarial workshop for "actuaries" but rather an inclusive and diverse insurance event to raise awareness among attendees from various backgrounds about industry trends, including financial inclusion. Numerous experts from science and practice will participate as speakers at the conference, and numerous representatives of the actuarial profession from all over the World, regulators and supervisors of the insurance sector, and market practitioners from insurance companies will be present. The conference aims to provide a platform for exchanging knowledge, experiences, and current challenges in the insurance industry.   The event will be hybrid, on-site at the Europe Hotel in Sarajevo and online, with a complete program in English.   The detailed Agenda is available on the Association Actuaires du Monde - Actuaries of the World website. Presentations will be available after the event.   Applications are open via the website: https://lnkd.in/dvt69zHu   For all information, contact: sarajevo2024@actuairesdumonde.org   For preferential accommodation prices, contact: marketing@hoteleurope.ba.   Do not hesitate to take the opportunity to be part of this momentous insurance occasion.   See you in Sarajevo soon. #savethedate #welcome #actuaries #insurance #insuranceindustry #cee #see #conference #westernbalkans #sarajevo #bosniaandherzegovina

🔔 New release alert 🔔 Welcome to the October edition of ITIC’s Claims Review! The ITIC board met for their September board meeting in Cyprus. ITIC remains in great health and the Chairman’s 2024 statement can be found here: Annual Report & Accounts - ITIC (itic-insure.com). Cyprus was chosen as the venue, in part, to mark the launch of ITIC Europe, which is based in Limassol. A drinks reception was held at the Amathus Beach hotel which was well attended by many members, insurance brokers and other important market contacts. For any readers who wish to learn more about ITIC Europe the following Frequently Asked Questions may be helpful: ITIC Europe Frequently Asked Questions - ITIC (itic-insure.com). This edition of the Claims Review provides a selection of marine cases recently handled by ITIC. We hope that these case stories will be of interest to you and will also help you to identify potential problems in order to avoid these types of situations occurring in your businesses. Enjoy reading this edition! 🚢 #shipsandshipping #shipping #maritime #maritimeindustry

Learn about your legal rights when dealing with travel regulators in our upcoming webinar. Discussions will be led by travel partner Rhys Griffiths, dispute resolution partner Kofi Mills-Bampoe, and senior associate Veronique Bergau. Our panel will address: - The legal recourse travel companies have in relation to decisions taken by the Civil Aviation Authority concerning ATOL - How to deal with a regulatory investigation: the ‘dos’ and ‘don’ts’ - How to deal with enforcement action under the DMCC Register for this valuable session here https://lnkd.in/exjtRzTy #ATOL #TravelSector #TravelOperator #TravelRegulation

Please join my colleagues Michael Baier Fratila Aurel and Pedro Lorenti Wednesday October 16th on a brief talk on re/insurance liquidations in challenging jurisdictions. See details in link below. #insurance #reinsurance #insuranceliquidation #seguros #reaseguros

"Messrs Amir Khusyairi & Associates partner Nik Erman Nik Roseli explained the limitations of current laws in protecting victims. He noted that consumers dealing with unlicensed travel agents are not protected under the Tourism Industry Act 1992. “The act does not provide MOTAC with powers to recover financial losses for victims. Consumers must file claims at the Consumer Tribunal for sums below RM50,000 or pursue civil claims for higher amounts,” he told TMR. Nik Erman also noted the jurisdictional challenges of pursuing legal action when the operator resides abroad. He said even with a court judgment, enforcement may require filing a new claim in the operator’s country of residence, such as South Korea, highlighting the complexity and cost of seeking justice. The legal hurdles often deter victims from taking action, further compounding their losses." #commerciallawyer https://lnkd.in/g2wVysE2

On June 14th, in Genoa, the “MARE, FINANZA e ASSICURAZIONI” Business Meeting was held, organized by SHIPPING ITALY in collaboration with SUPER YACHT 24. The event provided an occasion to discuss #emergingrisks and current issues in the maritime transport, shipbuilding, and cargo shipping sectors from both insurance and financial perspectives. d’Amico Shipping Group also attended at the event. During the panel dedicated to emerging risks, our Group Insurance Director Lorenzo d'Amico commenting on the current global context, stated: "In an era marked by the transition towards #deglobalization and the increase of restrictive measures such as duties and sanctions, the world is facing persistent conflicts that create an atmosphere of global uncertainty. This context represents both a #challenge and an #opportunity for insurers, whose ability to guarantee and protect becomes crucial for #stability in a rapidly evolving scenario." He also underlined the crucial role of #seaferers: “The growing complexity of global navigation requires special attention to seafarers, whose role has become more and more essential, but whose recruitment is increasingly challenging. The loss of attractiveness of a maritime career raises crucial questions about the well-being and future of these essential professionals." Reflecting on compliance, he added: "#Compliance, now more critical than ever, must be integrated into the corporate culture." He also gave some inputs about new technologies generating opportunities: "In the era of technological evolution, #innovation offers both hopes and challenges. New #technologies serve as a chance of improvement and not just as threats. “ He wrapped up as follows: “Adhering to #sustainability principles, maintaining a strong #culture of compliance, and committing to innovation are essential to navigate towards a prosperous and resilient #future." Here is the article about the event: https://lnkd.in/dk5sH43S   #businessmeeting #insurance #emergingrisks #Genoaevent #maritimeindustry #dAmicoGroup

The Role of Cultural Understanding in Claims Handling internationally and in South Africa: In an increasingly interconnected world, the insurance industry must continuously adapt to serve diverse communities effectively. South Africa, with its rich tapestry of cultures, languages, and traditions, provides a unique example of how cultural understanding can significantly impact the claims-handling process—not just locally, but globally. When a client files a claim, they’re often dealing with a personal loss or a stressful situation. It’s in these moments that cultural sensitivity becomes crucial. By understanding and respecting the values, communication styles, and expectations of diverse communities, insurers can create a claims-handling experience that feels not only efficient but also compassionate. Here are a few reasons why cultural understanding matters: 1️⃣ Building Trust: A lack of cultural awareness can unintentionally alienate clients, leading to mistrust. Tailoring communication and showing empathy in a culturally relevant way fosters strong client relationships. 2️⃣ Reducing Disputes: Miscommunication often arises from cultural misunderstandings. Being attuned to cultural nuances can prevent unnecessary conflicts, ensuring smoother claims processing. 3️⃣ Compliance and Fair Practices: Different communities may have unique needs or concerns. A culturally sensitive approach ensures fair outcomes and compliance with regulations designed to protect diverse populations. 4️⃣ Global Applicability: As insurers expand their footprint globally, cultural understanding becomes a key differentiator. Whether it’s navigating linguistic differences or recognizing regional customs, this competency elevates the customer experience. For example, in South Africa, understanding how traditional practices influence risk perception or claims behavior can lead to more effective solutions. Globally, insurers can take lessons from these experiences to better serve multicultural markets. At the heart of insurance lies a promise: to provide support during times of need. Cultural understanding ensures this promise is kept in a way that resonates deeply with clients, no matter their background. Let’s champion inclusivity and empathy in every step of the insurance journey. When we meet clients where they are—culturally and emotionally—we don’t just handle claims; we build enduring trust and loyalty. What strategies does your organization use to incorporate cultural understanding into its processes? Let’s share insights to help the industry grow together. #Insurance #ClaimsHandling #CulturalSensitivity #CustomerExperience #Diversityandinclusion #ClaimsManagement #InsurTech #RiskAssessment

Tyres and insurance – two things we often forget about until we need 'em! But hey, no need to stress when you've got Magna Thomson on your side! We get it – insurance isn’t the most thrilling topic, it's a crucial safety net in life's unexpected moments. That is why we're fully accredited to offer moving insurance, whether you're relocating locally or taking on the world with an international move! With Magna Thomson, you're not just getting a moving service – you're getting a full turn-key experience that covers all the bases. So why settle for anything less? Choose Magna Thomson for a smooth move. https://lnkd.in/dAJbrpe #magnathomson #insuranceawarenessday #insurance #movingmadeeasy #moving #localmoving #turnkeysolutions #movingcompany #movingservices #FCP #nationalmoving #internationalmoving #relocations #emigration #southafrica #peaceofmind #immigration #semigration #movinginsurance #fridayfacts #movinghouse #movers #internationalmovers

As companies look to grow internationally, understanding the legal landscape is crucial. Antonella Lucifero from CNA Canada sheds light on the complexities of cross-border operations, especially between Canada and the US. Discover how to prepare for international expansion effectively with insights from experts in the field. https://hubs.ly/Q02R9gg10 #InternationalBusiness #LegalCompliance #InsuranceSolutions #CNACanada