Half of Asian businesses have no liability insurance: QBE

Half of Asian businesses have no liability insurance: QBE

Half of Asian businesses have no liability insurance: QBE

Asia’s corporate market is significantly underprotected against liability risks, according to a recent study by QBE Insurance that revealed roughly half of Asian companies have no business liability insurance at all. The report, Risk in Regret, shows that the vast majority of Asian businesses have some form of insurance, most notably property and casualty, but less than half have invested…

XL Catlin launches cyber insurance in Asia-Pacific

XL Catlin launches cyber insurance in Asia-Pacific

XL Catlin launches cyber insurance in Asia-Pacific

Bermuda-based insurer XL Catlin has unveiled a cyber and data protection insurance policy for Asia-Pacific. The policy covers business interruption and associated extortion demands arising from a network compromise, as well as both the first-party incident response costs and third-party liability. The first-party costs include notification, forensic investigation and public relations support, while the potential liability covered under the policy…

Singapore opens consultation on cybersecurity bill

Singapore opens consultation on cybersecurity bill

Singapore opens consultation on cybersecurity bill

The Cyber Security Agency of Singapore (CSA) and the Ministry of Communications and Information have released the much-anticipated Cybersecurity Bill for public consultation. The Bill, which has been almost two years in the making, is an attempt to create a single industry-wide cyber security framework for Singapore’s main businesses and to do away with the various sector-specific rules that exist…

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

Risk modelling and analytics firm RMS has expanded its portfolio of risk models with the addition of tropical cyclone and earthquake models covering Asia-Pacific. More specifically, the new models include typhoon models for South Korea and Taiwan, adding to existing ones for Japan and China, as well as earthquake models for Vietnam, Singapore, Malaysia and Thailand, which will not sit…

Asia operating three-speed insurance market: Allianz

Asia operating three-speed insurance market: Allianz

Asia operating three-speed insurance market: Allianz

Asia’s insurance market may have been growing at an average annual rate of 7.5% for the past nine years and its gross written premiums may account for 32% of total global premium income, but current premium growth rates are sharply divided within the region, according to a recently released report from global insurer Allianz. The report describes the region as…

Specialist cyber insurer opens in Singapore

Specialist cyber insurer opens in Singapore

Specialist cyber insurer opens in Singapore

A new insurer has launched in Singapore, hoping to capitalise on the growing insurtech market in the country. Delta Insurance Singapore (Delta IS) describes itself as “the first cyber, technology and financial lines Lloyd’s coverholder in Singapore”. It is part of the Delta International Group and a sister company to Delta New Zealand, which has a similar technology-based risk focus,…

Increasing need for D&O insurance in Asia

Increasing need for D&O insurance in Asia

Increasing need for D&O insurance in Asia

In today’s increasingly litigious business environment, directors and officers face constantly evolving risks and liabilities from regulators and investors, not just in their home market but everywhere the company has operations. Senior leadership are now more likely to have a claim laid against them than ever before. This is becoming a major issue in Asia, where a heightened regulatory environment…

Blockchain technology creates first multinational insurance ‘smart contract’

Blockchain technology creates first multinational insurance ‘smart contract’

Blockchain technology creates first multinational insurance ‘smart contract’

The first so-called ‘smart contract’-based multinational insurance policy using blockchain technology has been successfully piloted by AIG, IBM and Standard Chartered Bank. The three companies specifically chose multinational insurance coverage, a particularly complex area of commercial insurance, to better understand blockchain’s potential to reduce friction and increase trust in other areas of the insurance value chain. AIG said the blockchain…

Swiss Re makes key appointments in Asia

Swiss Re makes key appointments in Asia

Swiss Re makes key appointments in Asia

Swiss Re has hired a number of senior executives to head up its new property and casualty reinsurance underwriting hub in Singapore, while its corporate insurance practice – Swiss Re Corporate Solutions (SRCS) – has made two senior appointments. Jonathan Rake will become SRCS chief executive for Asia-Pacific, taking over from Fred Kleiterp who has been appointed chief executive for…

International SOS to promote work travel safety at Singapore summit

International SOS to promote work travel safety at Singapore summit

International SOS to promote work travel safety at Singapore summit

Singapore’s Ministry of Manpower is lending its official support to a campaign to establish principles of prevention for business travel. The campaign is led by travel security services firm International SOS and is calling on business leaders to attend its Singapore World Summit, which will run during the XXI World Congress on Safety and Health at Work in Singapore on…

1 2 3 4