Professional Indemnity – Protector for Working Class
As a broker, we have seen a continuous rise of enquiries about Liability Insurance in China recently, with an especially high attention on Professional Indemnity. This article is a brief discussion of its basics, the industries needed to buy Professional Indemnity Insurance (PI) and the main aspects affecting its pricing. What is Professional Indemnity Insurance? Professional Indemnity Insurance is designed to protect insured businesses from claims arising from their mistakes, errors or omissions of their professional services. Whether if they are lawyers, medical practitioners, consultants or engineers, this type of insurance can provide them with the necessary protections to ensure […]
Driving Gender Equality and Empowering Women Leaders in the Workplace
In today’s rapidly evolving business landscape, talent scarcity has become a pressing concern across industries. Factors such as an aging population, declining fertility rates, widening wealth disparities, and the emergence of generative AI and Web3 developments contribute to the complexities of fostering gender equality. To create an inclusive culture at work that empowers and supports women leaders, organizations must proactively address the following challenges: Societal Pressures on Caregiving Responsibilities In Hong Kong, almost half of working adults have caregiving responsibilities, with women bearing the majority of this burden of caregiving for both the elderly and children, including those with special […]
Employee Wellbeing: The key to success in the future of work
Author : Stella Sung, Senior Vice President of Head of People Solutions, North Asia, Lockton Companies (Hong Kong) Ltd. Employee wellbeing has been a widely discussed topic over the past year. The pandemic has certainly transformed the way employees think about work. Employee wellbeing is now more important than ever. So, what exactly is employee wellbeing? Today, it has expanded beyond physical health such as gym memberships, yoga classes or health checkup. Physical health is just one piece of the puzzle. It has now been broadened to other area of focuses, particularly in mental, financial, and social wellbeing. With the […]
Navigating the Future of Healthcare Benefits and Elevating DE&I
In an interview with Lockton Companies, Stella Sung, SVP and Head of People Solutions – North Asia, delves into how they promote diversity, equity, and inclusion (DE&I) within their organisation, as well as the best approaches for HR leaders to implement it in their own organisations and also how businesses can stay updated with these advancements. The contents of this article were originally published in Manage HR Magazine. For further information please visit Lockton’s People Solutions page, or contact: Vivi Kwok, Vice President, Wellbeing and Growth Marketing E: vivi.kwok@lockton.com
SPAC Should Not Ignore Cybersecurity Risks
The pandemic made the worldwide progress in digital transformation faster and it has become a focus. Breakthroughs in technology like Artificial intelligence, blockchain, internet of things and virtual reality, etc. are as well reshaping our future. Meanwhile, new economics and technologies bring challenges to security, privacy and ethics. The Network Security Director of KPMG said that hackers can always invade the systems and businesses have no options but to accept this reality. The key is to cut down the duration of the invasion and time needed to detect hacking activities. For SPACs and their sponsors, although their cybersecurity risks are […]
How to mitigate growing Maritime Cyber Risks
The global maritime industry is embracing the fast-evolving digital age, from GPS, ECDIS, AIS, ENC, ERS and e-B/L to full smart shipping. Soon, we will see fully remote and autonomously controlled smart ships navigating the oceans. As the world becomes increasingly more digital, the associated risks involved are growing exponentially, which at the same time also means higher expectations of the insurance industry. The main cyber risk trends we have seen in recent years include an increase in both frequency and severity of ransomware attacks, more sophisticated business emails making compromising attacks in the ‘deep fake’ era, targeted ‘zero day’ […]
From burnout to balance: mastering stress in the modern workplace
Stella Sung, Senior Vice President of Head of People Solutions, North Asia, Lockton Companies (Hong Kong) Ltd. In the contemporary work landscape, stress has emerged as a pervasive challenge impacting employees across all levels. The relentless demands of meeting deadlines, managing escalating workloads, and striving for work-life balance often culminate in burnout. However, as HR and benefits professionals, we play a vital role in supporting employees in navigating stress and burnout. By implementing effective strategies and fostering a supportive culture, we can empower employees to transform burnout into balance and master stress in the modern workplace. Understanding Workplace Stress Workplace […]
Insurance for Escape Room Industry
In recent years, immersive entertainment is booming in China. The escape room industry, being a new form of recreation, breaks into the market quickly and the whole industry is bound to scale up. We understand that owners and operators are still facing safety risk and possible claims. How can they ensure safety and reduce loss as much as possible? Lockton has created a specialist team to provide insurance services for the Escape Room Industry. We strive to support clients in managing their insurance needs, driving operating efficiency and solving their problems by providing professional services. Through our global expert network […]
Global insurance capacity facilitates China’s renewable energy boom
As the world aims to reduce CO2 emissions and reach climate goals, China is forecast to add the bulk of the global renewable energy capacity to be created by 2026 in the power sector. To be completed, the projects will require significant insurance capacity from international markets. Global renewable power capacity is expected to increase by more than 60% between 2020 and 2026, adding the equivalent of the current total global power capacity from fossil fuels and nuclear combined, according to the International Energy Agency (IEA). Solar photovoltaic (PV) alone is set to provide more than half of this capacity creation. […]
Managing the risk of electric fleets
Businesses are rapidly replacing their internal combustion engine (ICEs) powered fleets with electric vehicles (EVs) to reduce their carbon footprint. As part of the process, fleet managers need to address EV specific risks while also making sure that their insurance providers are keeping pace with the company’s changing risk exposure. The electric vehicle push In Europe, the EV model offering will continue to grow on the back of regulations that set limits to each manufacturer’s light-duty fleet average carbon emissions. Because companies can earn and trade credits, sales of EVs are critical to balancing emissions from other vehicles. Major manufacturers are planning […]