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FORWARD LOOKING: Driverless vehicles and insurance industry
1 January, 2020 by Ts.Budmaa in Ulaanbaatar

The driverless car subject may seem as one of the most recent topics in our lifetime, the impact of this impending change to our lives is substantial. Lately the number of projects which aim to manufacture driverless vehicles are increasing and sectors that are exposed under this challenge such as traditional vehicle makers, insurance industry and regulatory authorities are discussing and preparing to adjust before driverless vehicles become reality on the road at mass level

“ORSA TOOLKIT” Own Risk and Solvency Assessment toolkit for Insurers
17 September, 2019 by Ch.Munkhtogoo, in Ulaanbaatar

“ORSA TOOLKIT” Own Risk and Solvency Assessment toolkit for Insurers Insurance industry in Mongolia is currently facing a shift towards simplified Solvency II regime by leaving behind its conventional control regime. Since January 2019 new regulations on “Risk based capital approach”, “Procedure on risk based control and supervision for insurer’s operation”, “Guidelines on own risk and solvency assessment of the insurer” fall full in force which were approved by Financial Regulatory Commission of Mongolia with the resolution 290, dated 19th of December 2018.

RISK ACCUMULATION
27 January, 2020 by Ts.Budmaa, in Ulaanbaatar

The number of countries in which flood events were reported in EM-DAT was less than 50 until mid-1980, reaching around 80 after 2000. Between 1960 and 2013, value of reported economic losses showing increasing trend (6.3 percent per year) (Masahiro Tanoue, Yukiko Hirabayashi, Hiroaki Ikeuch, ‘Global Scale river flood vulnerability in the last 50 years’, 2016).