Growing cyber awareness and mitigation efforts failing to reduce risk, says Marsh CEO

Growing cyber awareness and mitigation efforts failing to reduce risk, says Marsh CEO

Growing cyber awareness and mitigation efforts failing to reduce risk, says Marsh CEO

Cyber risk awareness is growing and more money is being spent on mitigation but this is not yet leading to a reduction in the risk, John Doyle, president and CEO of Marsh, told delegates at an OECD conference in Paris yesterday. Business, the insurance industry and governments need to rethink their approach to cyber risk and work more collaboratively to…

Ferma, Airmic and IRM embrace new version of ISO 31000

Ferma, Airmic and IRM embrace new version of ISO 31000

Ferma, Airmic and IRM embrace new version of ISO 31000

Three leading risk management bodies have welcomed the release of a revised ISO 31000, praising its focus on the role of leadership in embedding risk management. The International Organization for Standardization (ISO) published a new version of its ISO 31000 Risk Management Guidelines on Friday. The revised version is said to be a clearer and more concise guide to risk…

Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Marsh’s 2018 political risk map suggests choppy waters ahead for multinationals

Turbulence in political risk – particularly Brexit negotiations, trade protectionism and the North Korea missile crisis – will continue into 2018 and feature high on the agenda of multinationals, Marsh said on publishing its Political Risk Map 2018 with BMI Research. In Europe, the political risk landscape continues to be dominated by the UK’s exit from the European Union and…

IRM announces ambassador for Vietnam, Cambodia and Laos

IRM announces ambassador for Vietnam, Cambodia and Laos

IRM announces ambassador for Vietnam, Cambodia and Laos

The Institute of Risk Management (IRM), a UK-based risk education body, has appointed Saman Bandara as a global ambassador for Vietnam, Cambodia and Laos as it continues to expand its operations in Asia-Pacific. Mr Bandara is head of insurance, forensics and it risk and analytics at EY Vietnam, where he has worked for 11 years. He is also a long-serving…

Cyber breaches take on new forms, warns Beazley

Cyber breaches take on new forms, warns Beazley

Cyber breaches take on new forms, warns Beazley

Cyber hacks and malware were the most common cause of data breach in 2017, according to Beazley, accounting for 36% of incidents reported by its clients last year, followed by accidental disclosure at 28%, and insider breach and social engineering at 10% each. The insurer’s latest analysis also reveals three growing cyber threats to business, in the form of payroll…

Corporates relief as South Africa goes for tax balance

Corporates relief as South Africa goes for tax balance

Corporates relief as South Africa goes for tax balance

After increasing concern among corporates about the risk of much higher taxes in South Africa, there has been a collective sigh of relief as finance minister Malusi Gigaba found a balance between raising taxes on the wealthy, broadening the tax base and providing a safety net for the poor. The rand appreciated somewhat and bond yields traded lower soon after…

Unemployment tops risk list for South Africa

Unemployment tops risk list for South Africa

Unemployment tops risk list for South Africa

Structurally-high unemployment and underemployment tops the risk list for 2018 in South Africa, according to the 2018 Risk Report from the Institute of Risk Management South Africa (IRMSA). Also in its top ten list of risk by impact, revealed today, are unmanageable fraud and corruption, failure of governance, government policy, macroeconomic developments and profound political instability. In terms of most…

AMRAE teams with insurers and others to boost cyber response

AMRAE teams with insurers and others to boost cyber response

AMRAE teams with insurers and others to boost cyber response

Risk managers and insurers need to accelerate the development of cyber risk culture within their organisations, clearly explain the content of different cyber coverage options to allow easier comparisons and strengthen trust between cyber policyholders and transfer partners, according to a group of leading French experts. A working party is being created, led by the French Insurance Association (FFA) and…

Don’t miss out on a trip to Europe

Don’t miss out on a trip to Europe

Don’t miss out on a trip to Europe

Make sure you complete the 2018 risk management survey for risk managers across Africa in order to be automatically entered into the draw to win a trip to Europe.* Our annual Risk Frontiers Africa report has become a must-read for all risk and insurance industry professionals with an interest in Sub Saharan Africa. The report is compiled from extensive interaction…

Nigerians set for more electricity

Nigerians set for more electricity

Nigerians set for more electricity

With some 80% of Nigerians reportedly not having direct access to electricity, the World Bank has approved an investment to the equivalent of $486m for rehabilitation and upgrading of electricity transmission substations and lines.   The measures that will be implemented through 2021 are aimed at improving transparency and service delivery and re-establishing investor confidence in the sector. The investments under…

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