Insurance expert tips tighter policies, premiums

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A leading industry expert is predicting a bleaker outlook for the insurance sector in Asia. Antony Sassi, the managing partner, Asia at Reynolds Porter Chamberlain, and Hong Kong Insurance Law Association president, said he expected a new landscape with increases in premiums and tighter policies.

“What we are seeing in Asia is more of a global phenomenon, where there is hardening market, which is essentially the insurance companies taking a harder look [at policies],” Sassi told Asia Business Law Journal.

“Insurers are increasingly looking closer at the policy terms and conditions to see if there is cover for issues, which perhaps they weren’t doing in the past. This is going to be a bit of a game changer for the insurance industry.”

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