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The sixth annual ranking of companies in the region with the highest growth. Health tech businesses thrive post-pandemic even as VC funding drops. Plus: Singapore draws in start-ups; new models of corporate success in Japan; India’s EV expansion
...But their moves have fallen short of offering direct compensation to victims’ descendants. The insurance industry is seen as having enabled slavery given its importance to global shipping....
...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...Abrdn said at the time that linking pay to performance was “an important part of our approach to compensation across the company”....
...The so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...Money held in epayment companies such as PayPal, school meal schemes and foreign payment firms, Revolut for example, are not covered....
...It had also seen some examples of companies paying out 70 per cent of the premiums in commission to third parties involved in selling the add-on insurance....
...The pledge comes three years after the insurance market apologised for its role in the trade, which included extending crucial insurance to voyages and even insuring slaves as cargo....
...In full-year results on Wednesday, the life insurance and asset management group reported a 45 per cent rise in new business profit — a measure of expected earnings from newly sold products — to $3.1bn,...
...Robinson and other experts have likened the probe to the payment protection insurance scandal, which dates back to the 1990s when banks mis-sold insurance to millions of customers, leading banks to later...
...the company in as many years....
...The PLD impact assessment estimated annual payouts from the reformed system could reach €217mn and insurance costs for companies rise around 10 per cent....
...This evokes memories of the long-running, and very expensive, payment protection insurance scandal. Any lenders funding motor finance should worry about how this problem could mushroom....
...This is the sixth annual ranking of 500 high-growth Asia-Pacific companies, compiled by the Financial Times and Statista, the data company....
...In the event, some businesses have opted to renew their insurance policies without including cover for Israel assets, relying instead on a state compensation fund, according to two market sources....
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...experts said echoed the payment protection insurance scandal....
...In recent years, its performance has been blighted by higher than expected compensation payouts linked to mis-sold payment protection insurance....
...For Dai-ichi Life, acquisition of Benefit One would come as it explores other revenue channels to counter a shrinking insurance market at home....
...Fujitsu could face “financial sanctions” to help fund compensation for victims of the Post Office scandal if the Japanese software company was found to be at fault, said the UK postal affairs minister....
...“Health insurance is not my top priority.”...
...Experts have said the FCA probe has echoes of the payment protection insurance mis-selling scandal. Banks were later hit with billions of pounds worth of fines and customer compensation claims....
...Claims management companies proliferated in the wake of the mis-selling of payment protection insurance (PPI), which caused banks to pay out more than £38bn....
...Malaysia paid more than S$100mn (US$74mn) in compensation to Singapore for the termination....
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