Morning Briefing: Insurer makes bold move on serious illness cover

Insurer makes bold move on serious illness cover… AXA partners with Lloyds specialist for African venture… Canadian risk manager wins global accolade… Government minister in auto crash had expired license…

Insurance News

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Insurer makes bold move on serious illness cover
Manulife Financial’s North American insurance units are to begin offering coverage to certain people living with HIV. Manulife Canada and John Hancock in the US will offer products but clients will need to meet certain criteria and must be between 30 and 65. Life coverage will be available for up to $2 million in local currency. In Canada, Manulife will be the first insurer to offer the coverage.
 
AXA partners with Lloyds specialist for African venture
French-based global insurer AXA has partnered with Chaucer, a Lloyd’s specialty insurance group, for a new venture in Africa. AXA Africa Specialty Risks will be dedicated to covering specialty insurance lines in Africa, covering business such as political risks, energy and infrastructures.

As an emerging market, Africa has been a key area of expansion for AXA in recent years and the insurer has made a number of acquisitions and partnerships. The firm now operates in 8 African markets.
 
Canadian risk manager wins global accolade
A Canadian risk manager has been recognized for her work on the Toronto 2015 Pan/Parapan American Games (Canada.) Joanna Makomaski was named Risk Management Professional of the Year at the Global Risk Awards in London.

The event was organized by the Institute of Risk Management which was attended by more than 400 professionals from 40 countries.

On collecting her award, Makomaski commented: “Thank you everyone at the IRM for such a prestigious and global recognition. I am very proud. Our ERM effort at the Toronto 2015 Pan/Parapan American Games was a collective one.”
 
Government minister in auto crash had expired license
A minister on the Mediterranean island of Gozo has faced calls to resign following an auto crash and claims he was uninsured at the time. Malta Today reports that Anton Refalo says he did pay his insurance premium but that his driver’s license had not been processed with the relevant authority; this is handled by insurance companies in the territory.

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