Publication
The robots are coming … is insurance ready for AI?
The insurance industry is founded on predicting, as accurately as possible, whether or not a risk will materialise in a fast-moving competitive environment.
Publication | September 16, 2016
The transfer of the trillions of dollars that regularly move around the globe is accomplished through the use of accounts that the banks maintain with each other to settle those transfers, as well as for other banking services. These accounts, called correspondent accounts, are critical to the efficient functioning of the world’s financial system. Most of these accounts are maintained at large international banks (“correspondents”)—many of which are in the United States, European Union, Canada and other industrially developed countries. But banks in other countries (“respondents”) need accounts at those banks to handle funds transfers, other payments, etc., and if those large banks are reluctant to maintain accounts for them because the bank and/or the country are seen as a greater risk, then they may cut them off or charge them a larger fee to maintain the account.
There has been a troubling trend toward some banks terminating their correspondent banking account relationships with banks in certain areas of the world, and potentially to all the banks in particular countries, essentially isolating them from accessing the international financial system and adversely affecting that country's own local banking system.
Read the full article: Work continues on addressing correspondent banking decline
Publication
The insurance industry is founded on predicting, as accurately as possible, whether or not a risk will materialise in a fast-moving competitive environment.
Publication
The increasing frequency and severity of climate-related natural disasters is having a big impact on physical risk exposures and the increasing protection gap.
Publication
On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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