Covid-19 accelerates need to focus on people risk and value

By Ben Norris on November 18, 2020

It has never been more important than in the post-Covid-19 world for organisations to recognise that people are their most important asset or risk, and that both sides of the same coin must be properly managed, said experts at Commercial Risk’s employee benefits event. Delegates gathered for the two-day virtual event, which takes place on 18-19 November, were told that even before the pandemic struck there was mounting evidence and recognition that employees are an organisation’s biggest asset. Employee wellbeing boosts staff retention and productivity, among other things, they said. CLICK HERE TO READ MORE OF THIS ARTICLE

US healthcare spending costs significantly lower than projected for 2020

By Tony Dowding on November 13, 2020

Healthcare spending costs for most US employers that pay employee medical, dental and vision claims through insurance carriers were significantly lowered compared to original 2020 projected levels as a result of Covid-19, according to Aon. CLICK HERE TO READ MORE OF THIS ARTICLE

Risk managers need to focus on financial stress, health and safety, and planning

By Adrian Ladbury on November 5, 2020

Financial sustainability, health and safety of customers and staff members, job security of staff, and business plans and projections, are the main exposures brought about by the Covid-19 pandemic; and risk managers need to play a central role in their management, according to a board member of the Hong Kong chapter of Parima. CLICK HERE TO READ MORE OF THIS ARTICLE

Zurich LiveWell to acquire digital health and wellbeing service providers

By Tony Dowding on October 9, 2020

Zurich Insurance Group is to acquire two digital health and wellbeing service providers, based in Australia and South Africa. Zurich will purchase HealthLogix, based in Australia, and HealthInsite, based in South Africa, from the founders of the companies. The two companies are jointly known as HLX, and the acquisition will further expand Zurich’s LiveWell health and wellbeing business. CLICK HERE TO READ MORE OF THIS ARTICLE

Employers’ healthcare benefits costs to rise 8.2% in 2021

By Sarah Jolly on October 7, 2020

Employers’ healthcare benefit costs are set to spike by 8.2% globally in 2021, following an increase in pressures on health resources and costs from Covid-19, according to Willis Towers Watson (WTW). Europe is projected to see the lowest cost increase at 5.8% in 2021, but still higher than the 4.2% rise this year. Latin America is expected to record the highest increase in costs at 13.6%, while North America and Asia-Pacific are both expected to see a rise of 8.5%. The costs are set to rise 10% in the Middle East and Africa. CLICK HERE TO READ MORE OF THIS ARTICLE

Ukrainian insurer joins MAXIS Global Benefits Network

By Tony Dowding on October 6, 2020

ARX Insurance, a leading insurer in Ukraine, has become the latest member of MAXIS Global Benefits Network (MAXIS GBN), a leading international employee benefits network. ARX Insurance is owned by Canadian insurer Fairfax. ARX provides life, disability and medical coverage to MAXIS GBN’s multinational clients, and has been operating in the Ukrainian insurance market for 26 years. CLICK HERE TO READ MORE OF THIS ARTICLE

Revise employee benefits schemes to take account of older employees, says MAXIS GBN

By Tony Dowding on September 16, 2020

Multinationals and large corporates will need to revise their employee benefits schemes to take into account the growing need to accommodate the needs of older employees, according to MAXIS Global Benefits Network (MAXIS GBN). In a new whitepaper, MAXIS GBN states: “An ageing workforce is a growing reality for multinationals as people are living and working longer, and falling birth rates mean fewer people are entering the global workforce. If businesses don’t adapt, encourage healthy ageing and cater for an older workforce, they will not only alienate an important and growing pool of skilled staff, they risk becoming uncompetitive, hampered with avoidable costs and possibly exposed to additional medical claims.” CLICK HERE TO READ MORE OF THIS ARTICLE

Using captives in multinational employee benefits programmes

By Matthias Helmbold, head of technical and services at MAXIS Global Benefits Network, and Matthew Latham, head of global programmes and captives at AXA XL on June 3, 2020

Employee benefits are an important part of any global corporation’s risk and insurance spend. While many benefits are localised in nature, there are real advantages to managing them on a global level when possible. Matthias Helmbold, head of technical and services at MAXIS Global Benefits Network, and Matthew Latham, head of global programmes and captives at AXA XL, explain the latest trends in employee benefits and how underwriting employee benefits in a captive can bring greater transparency and diversification. CLICK HERE TO READ MORE OF THIS ARTICLE