Preview – June 2019, Chinese Tourists in the Hermit Kingdom: From Flux to Inflection

Preview – June 2019, Chinese Tourists in the Hermit Kingdom: From Flux to Inflection

Subscribe to the Insurance Research Letter here. Each issue has topical articles written by experts that you won’t read anywhere else. Stay current with major developments with our Global Briefs; monthly Synopsis of insurer and broker news; and our popular Back Page with all sorts of non-insurance fun and interesting subjects.

Chinese Tourists in the Hermit Kingdom: From Flux to Inflection
By William A. Hodges

The North Korean government’s recent prioritization of tourism not only demonstrates its attempt to attract more foreign currencies to solve the problems caused by economic sanctions, but also shows its desire to showcase a positive image of itself to the world. In this lies an issue that must balance national concerns of pragmatism and idealism, as well as visibility and invisibility. The current inflectionary status of inbound Chinese tourism comes after years of flux in tourism numbers to the DPRK. This has mostly been as a result of uncertainty surrounding North Korea’s pursuit of nuclear weapons and its treatment under consequent Western sanctions. However, after 2017, the time of North Korea’s most successful missile test, Kim Jong Un’s bargain to doggedly pursue nuclearization over economic growth proved the resilience of his juche-inspired plan and also gained him undeniable credibility as a world leader. This has been compounded by subsequent high-level talks with ROK, U.S., Russian, and PRC leaders alike in which Kim has made himself and his hermit kingdom more visible than ever. Analyzing how Chinese tourism to the North has responded to the DPRK’s recent nuclearization and these other foreign policy developments could provide valuable insights into the future of bilateral economic relations.

In the midst of Kim Jong Un’s ascendance to power, the DPRK was simultaneously involved in the Six-Party Talks and in the development of a missile program that was…(read more by subscribing above and receive every monthly issue of the Insurance Research Letter. Informing the insurance community every month since 1966)

Preview – July 2019, Vietnam: A Mission Unclear

Preview – July 2019, Vietnam: A Mission Unclear

Subscribe to the Insurance Research Letter here. Each issue has topical articles written by experts that you won’t read anywhere else. Stay current with major developments with our Global Briefs; monthly Synopsis of insurer and broker news; and our popular Back Page with all sorts of non-insurance fun and interesting subjects.

A Mission Unclear
By William A. Hodges

The Best and the Brightest, David Halberstam’s widely acclaimed examination of the supposed technocracy behind the American war in Vietnam, focuses heavily on the types of characters within the administration that surrounded President Johnson. Concerned about the war’s impact on his domestic initiatives within the Great Society, worried about the legacy of a Democrat’s overseeing of the loss of China, and concerned about upholding American credibility, Johnson was particularly susceptible to the theories of control espoused by many of his civilian and military advisors alike. Rejecting the notion that foreign policy missions in places like Vietnam could be uncontaminated by domestic concerns, Halberstam states that, “The truth, in sharp contrast, was that all those critical decisions [in Vietnam] were primarily driven by considerations of domestic politics, and by political fears.” (Halberstam)

This reality further obfuscated the U.S.’s mission in Vietnam. However ironically, Halberstam suggest that great trepidation and uncertainty emerged out of the framework of painstaking precision and measurability that peppered memorandums writer by Johnson’s top advisors. If the ultimate purpose of a heightened U.S. presence in Vietnam was upholding prestige and credibility in the face of potential revolutions across the region, Halberstam insists that this mission was both abstract, and completely out of the scope of American interests. Furthermore, it would contaminate the domestic political dialogue and sow deep divides between civilians and the military. Halberstam’s sound analysis of the war’s mission as utterly opaque seems very accurate, at minimum in terms of its popular messaging. Upholding credibility by itself was a dubious pretense for a war as costly as Vietnam.

It was widely established, particularly in a period of Moscow-encouraged detente, that Soviet strategy sought to avoid putting…(subscribe above to read this and receive each monthly issue of the Insurance Research Letter. Published monthly since 1996)

Preview – July 2019, Brexit – Whatever next?

Preview – July 2019, Brexit – Whatever next?

Subscribe to the Insurance Research Letter here. Each issue has topical articles written by experts that you won’t read anywhere else. Stay current with major developments with our Global Briefs; monthly Synopsis of insurer and broker news; and our popular Back Page with all sorts of non-insurance fun and interesting subjects.

Brexit – whatever next?
By George Worsley

The ever-changing journey of Brexit in British politics and the news has caused many people in this country to feel punch-drunk and helplessly resigned to months if not years of upsets and uncertainties.

Fairly soon we will know who will become Prime Minister and the prospects are that the country’s leaders will not be seeking to respond to the mood of the people who, in various polls, are keener to Remain in than Leave the European Union. Quite apart from whatever the arguments are and have always been to remain in the EU, Remainers do not see anything consistent in the Brexit way of thinking. Hardly anyone who wants Brexit can agree with other Brexiteers on what they want by way of a deal.

Outgoing prime minister, Mrs. May secured a last and final offer from…subscribe above to continue reading and receive each monthly issue of the Insurance Research Letter

IRL Preview – June 2019

IRL Preview – June 2019

Subscribe to the Insurance Research Letter here. Each issue includes topical articles written by experts that you won’t read anywhere else. Stay current with major developments with Global Briefs; monthly Synopsis of insurer and broker news; and the popular Back Page with all sorts of non-insurance fun and interesting subjects.

June Highlights

Global Briefs: The mess of Brexit and what’s next

I asked two friends – one an accomplished London-based insurance pro and the other a leading British insurance media man ­­– “Do you have any thoughts about what’s going on in the UK with Brexit now that Mrs. May has given way to June and her poor successor whomever that might be?” Read what they have to say on page 9

Using Litigation Funding to Level the Playing Field against Insurers

Learn about litigation funding and why it is a rapidly growing tool that policyholders might consider adding to their arsenal to help level the playing field against an insurer that is incentivized to delay paying claims. Read more on page 10

Premonition AI’s New LitigationScan™ Offers Insurers Decisive Court Advantage

In the insurance industry, litigation is the field of last resort to resolve disputes between claimants and insurers. Learn why choosing the wrong attorney can turn slam-dunk cases into coin tosses on page 11

Understanding Blockchain, Part 1

Learn about blockchain why a smart contract or crypto-contract is what makes blockchain a usable and relevant technology in modern day economies on page 11

Governor Pritzker Signs Workers’ Compensation Law That Will Significantly Impact Illinois Employers

Learn why this law might have serious consequences for Illinois employers. The practical effect of this law is to subject Illinois employers to unlimited personal liability for employees’ latent injury claims, and at the same time, potentially strip Illinois employers of insurance for such claims. Read more on page 12

The MGA Obstacle Course Cyber, Crypto, BREXIT, AI and Market Reform – What next?

The MGA Market faces many obstacles but is growing quickly. The MGAA now has some 140 MGA members with over £6bn premium under management – and all within 6 years. However, with reducing capacity, multiple regulatory challenges, new London market practices, BREXIT, and a bewildering choice of improving technologies, these all lead one to ask the question: why be an MGA? Read more on page 13

Chinese Tourists in the Hermit Kingdom: From Flux to Inflection

With the Democratic People’s Republic of Korea grabbing headlines so much these days, it very important to understand the mentality of North Koreans. The government’s recent prioritization of tourism not only demonstrates its attempt to attract more foreign currencies to solve the problems caused by economic sanctions, but also shows its desire to showcase a positive image of itself to the world. In this lies an issue that must balance national concerns of pragmatism and idealism, as well as visibility and invisibility. However, after 2017, the time of North Korea’s most successful missile test, Kim Jong Un’s bargain to doggedly pursue nuclearization over economic growth proved the resilience of his juche-inspired plan and also gained him undeniable credibility as a world leader. Read more on page 16

IRL Preview – May 2019

IRL Preview – May 2019

Subscribe to the Insurance Research Letter here. Each issue includes topical articles written by experts that you won’t read anywhere else. Stay current with major developments with Global Briefs; monthly Synopsis of insurer and broker news; and the popular Back Page with all sorts of non-insurance fun and interesting subjects.

Ryan Specialty Group and Nationwide launch a new Bermudian reinsurer, Geneva Re

Pat Ryan and Mike O’Halleran have teamed up again to form a new Bermuda reinsurer with Nationwide – each company with a 50 percent share. The time is ripe for new Bermuda reinsurers. Read more on page 10.

Why the need for new Bermuda Reinsurance Companies: The Future of Reinsurance Solutions

Andy Barile, having been a buyer of reinsurance, a seller of reinsurance, and a reinsurance broker, he understands the business of reinsurance from many different aspects. Read why Andy thinks reinsurers need to provide expert reinsurance solutions on page 11.

The Continuing Evolution of Cyber Insurance Coverages

Read why cyber insurance policies are continually being updated to provide new and innovative coverages in light of today’s new and increasing cyber risks. Judy Selby, a true expert in the field, highlights some of the latest cyber coverage offerings on page 11.

The New Normal in Claims Management

In just a few short years, big data and analytics have fundamentally shifted the way claims departments litigate claims. Read how these technologies changing how experts assess risk in the courtroom on page 11.

Brexit is boring

After the much reported rhetoric in the House of Commons where Britain’s worst prime minister ever has suffered humiliation after humiliation in her attempts to get her deal through parliament, it has gone relatively quiet on the Brexit front. Even the frequent calls for Mrs May to resign don’t always reach the dailies’ headlines. Read an insiders view of what’s going on now on page 15.

IRL Preview – April 2019

IRL Preview – April 2019

 

Subscribe to the Insurance Research Letter here. Each issue has topical articles written by experts that you won’t read anywhere else. Stay current with major developments with our Global Briefs; monthly Synopsis of insurer and broker news; and the popular Back Page with all sorts of non-insurance fun and interesting subjects.

Highlights

Uncle Sam Onboards Social Media Surveillance “Bigly”

On March 10, 2019, The New York Times published an article titled, “On Disability and on Facebook? Uncle Sam Wants to Watch What You Post,” and within minutes my inbox was blowing up with friends and colleagues forwarding the article to me with all-caps notes along the lines of, “OMG DID YOU SEE THIS?” It’s exciting news for insurers and self-insureds alike. Read more on page 10

The 21st Century Spy

In the 1980’s, taking a camera into the bathroom would raise a lot of eyebrows, but today we knowingly and voluntarily bring two cameras (front and face) along with a microphone into our most intimate settings, unaware of who maybe listening or watching. Most do not realize that technology we pay for (personal assistants, security cameras, cellular phones, conferencing tools) could be unknowingly creating significant organizational or personal liability. Read more on page 11

Aon’s New Ventures Group accelerates the firm’s Intellectual Property Solutions

On March 12, 2019 Aon announced its commitment to further develop its innovation portfolio and deliver new sources of value to clients through the New Ventures Group (NVG).  The NVG is now formally sponsoring the firm’s Intellectual Property Solutions (IPS) to help manage clients’ intangible assets and expand the marketplace. Read how Aon plans to march into the C-Suite on page 11

 Willis Towers Watson to showcase The Intelligent Frontier at RIMS 2019

Willis Towers Watson has announced its program for the upcoming RIMS 2019 Annual Conference and Exhibition in Boston, Massachusetts; April 28 to May 1. Read what the company is featuring during the conference and what educational sessions are being offered on page 12

Moving Insurance Teams – Spring Fever

Spring is the traditional time when broking and underwriting Teams seek to move. The major renewal season is over, and bonuses for the previous year paid. Over the years, the London insurance broking market has witnessed the movement of many broking Teams at this time. Read how to carefully plan and execute a team move on page 13