Security first insurance

SDIC — our fail-safe in case financial institutions in Singapore collapse. Here’s what you need to know about the company that insures your deposits up to $75,000. Keeping our hard earned savings in a bank account is one of the safest ways we know to store our cash. Not only do we earn interest on our money, but we also trust that these large, local banks have the financial capabilities to safekeep our money and allow us to withdraw them when the time arises. However, no company is fail-proof, especially with the access consumers have to alternative digital platforms. This is where the role of the Singapore Deposit Insurance Corporation (SDIC) comes into play, helping to alleviate fears consumers might have when it comes to leaving their money with financial institutions. What exactly is the SDIC? The Singapore Deposit Insurance Corporation (SDIC) is a company that administers the Deposit Insurance (DI) Scheme and the Policy Owners’ Protection (PPF) Scheme in Singapore. … [Read more...] about Singapore Deposit Insurance Corporation (SDIC) explainer: How it safeguards our hard-earned savings

SINGAPORE: Scenes of clashes between police and protesters, along with disruption to public infrastructure, have become a staple of global media reports about Hong Kong. Airport protests, the storming of legislative chambers and large rallies have been held over the last few months. The number of days since large public protests began in Hong Kong recently exceeded the 79 days of disruption caused by the Umbrella Movement and Occupy Central in 2014, and the prolonged and increasingly violent events can be disruptive for visitors and residents. Business and leisure travellers are now confronted with the difficult decision of whether to proceed with a visit to Hong Kong. My advice as a security expert would be to postpone non-essential travel to HK and continue to monitor for another two weeks especially when school terms starts over these next few days. BUSINESS-AS-USUAL AT MOST TIMES OF THE WEEK The good news is that throughout the past three months, at least … [Read more...] about Commentary: The security outlook if you travel to Hong Kong

Video Player Close BEIJING, Feb. 27 (Xinhua) -- Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, has stressed improving the social security system that covers the entire population and promoting high-quality and sustainable development of social security. Xi made the remarks while presiding over a group study session of the Political Bureau of the CPC Central Committee on Friday. He urged efforts to intensify redistribution, strengthen mutual assistance, and have more people benefit from the social security system that will meet the multi-level and diversified demands of the people. Improvements should also be made to have a sustainable multi-level social security system which shall cover the country's entire population, coordinate the needs from urban and rural areas and be fair and unified, so as to further promote the sustainable and high-quality development of the country's social security undertakings, Xi said. Members of the … [Read more...] about Xi Focus: Xi stresses high-quality, sustainable development of social security

REUTERS: U.S. insurers are taking a closer look at the recruiting and succession practices of corporate customers, worried about mounting lawsuits over a lack of diversity among top executives and directors, industry sources said. Insurers are meeting company officials to examine diversity practices before renewing or signing new so-called D&O policies to cover lawsuits against directors and officers, insurers and brokers said. Before pricing coverage, insurers want details about top-level succession planning and how companies recruit, they said. "This is an operational risk that's not going to go away," said Amber Finch, a lawyer who negotiates insurance coverage for companies. A California law set to take effect on Jan. 1 compounds the risk, she said. It will require publicly traded companies headquartered there to name board members from underrepresented communities. Insurers are shifting practices after Minneapolis police killed George Floyd, a Black man, on May … [Read more...] about US insurers dig into corporate diversity practices as lawsuits pile up

WASHINGTON: US websites have seen a surge in travellers seeking expensive ironclad insurance this Thanksgiving, as Americans desperate to break the monotony of a year spent at home look to cover themselves against coronavirus-related risks. Data from insurance comparison website Squaremouth on Tuesday showed the number of insurance policies purchased for US domestic trips over the upcoming holiday was up 170 per cent, compared to the same period of 2019. Some 40 per cent of all Thanksgiving travellers specifically searched for coronavirus cover, replacing top concerns from previous years, such as weather and financial defaults, and spurring a rise in the overall cost of cover. "Cancel-for-any-reason" policies, which typically allow cancellations up until two days before departure and a 75 per cent reimbursement, cost up to 40 per cent more than a regular policy. "It's just gotten to a point I think people are tired of being stuck at home and they're looking to get away and go … [Read more...] about Catch-all travel insurance booms as US flyers take Thanksgiving risks