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RHB BANK TEAMS UP WITH TOKIO MARINE TO LAUNCH ES­SEN­TIAL PRIMEBUILDER

Source: The Star Online, 16 June 2015 RHB Bank Bhd and Tokio Marine Life In­sur­ance Malaysia Bhd in­tro­duced Es­sen­tial PrimeBuilder, an is­sur­ance plan which pro­vides in­sur­ance cov­er­age on Death and To­tal Per­ma­nent and Dis­abil­ity (TPD). In a state­ment, the group said the life pro­tec­tion plan re­quires pol­i­cy­hold­ers to only pay eight years of pre­mium to en­joy life cov­er­age up to age 88. “Pol­i­cy­hold­ers will also en­joy an ad­di­tional ben­e­fit in the event of TPD due to ac­ci­dent. Pol­i­cy­hold­ers will re­ceive a yearly Guar­an­teed Cash Pay­ment (GCP) start­ing from the end of the fifth pol­icy year un­til the pol­icy ma­tures.” Clients can choose to re­ceive the GCP or leave the GCP to ac­cu­mu­late in­ter­est to fur­ther en­hance the pol­icy’s value. Un­like most in­sur­ance plans that cease the stream of guar­an­teed and reg­u­lar in­come upon oc­cur­rence of Death or TPD, Es­sen­tial PrimeBuilder will ad­vance all un­paid GCP in one lump sum.

XL CATLIN LAUNCHES 24/7 PROD­UCT RE­CALL CRI­SIS NET­WORK IN ASIA

Source: XL Catlin Press Re­lease, 9 June 2015 XL Catlin an­nounced that its Prod­uct Re­call in­sur­ance team in Asia has launched Re­sponse XL Catlin, a tai­lored net­work of ex­pert cri­sis con­sul­tants, which will be sup­ported in the re­gion by global com­mu­ni­ca­tions com­pany Bell Pot­tinger. With es­tab­lished net­works in the US and Europe, Re­sponse XL Catlin ex­perts pro­vide best prac­tice ad­vice in risk preven­tion, re­call plan­ning and cri­sis re­sponse on a 24/7-ba­sis to clients as part of XL Catlin’s Prod­uct Re­call cov­er­age. Re­sponse XL Catlin is a mar­ket-lead­ing of­fer­ing in the global in­sur­ance in­dus­try, help­ing clients to pre­pare for and man­age crises such as prod­uct con­tam­i­na­tion or ex­tor­tion sit­u­a­tions and mit­i­gat­ing po­ten­tial dam­age to rep­u­ta­tion, mar­ket share and brand. Re­sponse XL Catlin gives XL Catlin clients in Asia ex­clu­sive ac­cess to pre- and post-in­ci­dent sup­port at a time of grow­ing de­mand for prod­uct re­call in­sur­ance, es­pe­cially among the food and bev­er­age in­dus­try. The prepa­ra­tion phase in­cludes as­sis­tance with es­tab­lish­ing early warn­ing sys­tems, de­vel­op­ments of re­call plans, as­sess­ment of busi­ness sys­tems and cri­sis sim­u­la­tions. Dur­ing a cri­sis sit­u­a­tion, Re­sponse XL Catlin con­sul­tants are on hand 24/7 for cri­sis man­age­ment sup­port such as emer­gency lab test­ing and media en­gage­ment. Public-pri­vate part­ner­ships across Asia are work­ing to im­prove the safety of sup­ply chains, but food safety re­mains a key is­sue in the re­gion. Asia and the Pa­cific ranked be­hind the Amer­i­cas, Europe, Mid­dle East and North Africa in the 2014 Global Food Se­cu­rity In­dex (GFSI) in the area of food qual­ity and safety, rank­ing ahead of only Sub-Sa­ha­ran Africa. Sin­ga­pore-based David Guest, Cri­sis Man­age­ment Leader Asia Pa­cific at XL Catlin, said, “XL Catlin is de­lighted to an­nounce the launch of Re­sponse XL Catlin in Asia. Food safety is mov­ing to the top of the agenda and mak­ing media head­lines.” Mark New­man, Deputy Chief Ex­ec­u­tive for XL Catlin’s Asia Pa­cific Re­gion, said: “Com­pa­nies need solid part­ner­ships to man­age the com­plex risk is­sues they face to­day. The Re­sponse XL Catlin net­work pro­vides a one-stop so­lu­tion which gives our clients peace of mind that they are as pre­pared as they can be.”

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