Sompo develops online reputation insurance for corporates

Sompo develops online reputation insurance for corporates

Sompo develops online reputation insurance for corporates

Japanese insurer Sompo has launched a new insurance policy designed to protect a business from online attacks on its reputation, otherwise known as ‘enjo’. The practice, also known varyingly as flaming or doxing, refers to mass, sustained attacks via social media or the flooding of websites with negative comments. Typically, these attacks emanate from the fans of celebrities maligned by…

Verizon and Singapore’s NTU Business School team up to tackle cyber risk

Verizon and Singapore’s NTU Business School team up to tackle cyber risk

Verizon and Singapore’s NTU Business School team up to tackle cyber risk

Verizon Enterprise Solutions, part of the New York-based communications and wireless group, and Singapore-based Nanyang Technology University’s (NTU) Business School, have joined forces to analyse and better understand economic and insurance loss experienced by global insurers from cybersecurity incidents.  Verizon said that NTU will create a new programme that will develop data analytics capabilities for the insurance industry based on…

IAG plans insurtech hub in Singapore

IAG plans insurtech hub in Singapore

IAG plans insurtech hub in Singapore

Insurance Australia Group (IAG) is the latest insurer to launch an insurtech centre in Singapore, in a bid to spread its presence across Asia. The so-called innovation hub will focus on recruiting startups to act as research and development partners and to help launch new products and services. The initiative, called Firemark Labs, is supported by the Monetary Authority of…

Scandals highlight rising D&O risk in corporate Asia

Scandals highlight rising D&O risk in corporate Asia

Scandals highlight rising D&O risk in corporate Asia

High level executives in Asia corporates face a much greater risk of litigation and liability due to more stringent regulation, greater shareholder activism and the continued threat of cyber attacks. Recent events involving some of Asia’s most high profile corporate brands – from Toshiba to Samsung – have highlighted the clear and present danger facing directors and officers. Japanese conglomerate…

Asia-Pacific to spearhead growth of IoT insurance market

Asia-Pacific to spearhead growth of IoT insurance market

Asia-Pacific to spearhead growth of IoT insurance market

A report has placed Asia-Pacific at the forefront of the multi-billion-dollar Internet of Things (IoT) insurance market. According to market research firm Markets and Markets, the IoT will be worth more than $42bn by 2022, growing dramatically at a compound annual growth rate of 65.89%. The most dramatic growth will be in Asia-Pacific due to “the increasing urbanisation and modernisation…

A good year ahead for Asian insurance buyers: Aon

A good year ahead for Asian insurance buyers: Aon

A good year ahead for Asian insurance buyers: Aon

Overall, 2017 should be a positive year for risk managers and insurance buyers, thanks to abundant capacity and decreasing rates, even in areas of growing exposure such as cyber and credit default. This is the conclusion of the 2017 Asia Market Review, conducted by global broker Aon. The fourth annual report on insurance and risk trends in Asia states that…

Business interruption tops Allianz risk poll in Asia

Business interruption tops Allianz risk poll in Asia

Business interruption tops Allianz risk poll in Asia

The threat of business interruption is the main concern for Asian businesses according to a global survey of more than 1,200 risk experts conducted by insurer Allianz. The Allianz Risk Barometer lists the top three risks facing Asian corporates as business interruption, market developments and natural catastrophes – the same top three risks that featured in the 2016 survey, albeit…

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