Emerging risk landscape hots up as law firms seek opportunities

Emerging risk landscape hots up as law firms seek opportunities

Emerging risk landscape hots up as law firms seek opportunities

Litigation funders are travelling the world looking for fertile ground to bring claims and finding success in an increasing number of places, warns Tricia Hobson, Norton Rose Fulbright global chair and head of its Australia and Asia-Pacific insurance practice. Speaking in London recently, she said much of the pattern of behaviour follows the US, but claimant lawyers and litigation funders…

New man to head up Beazley’s APAC operations

New man to head up Beazley’s APAC operations

New man to head up Beazley’s APAC operations

Specialist insurer Beazley has appointed Lucien Mounier to leads its operations in Asia-Pacific. Mr Mounier has been based in Paris for the past two years, where he has been in charge of Beazley’s cyber and technology insurance lines. This business has been mostly based in continental Europe but has recently grown to include Asia, hence Mr Mounier’s recent promotion. He…

NDB scheme raises cyber liability for Australia’s companies

NDB scheme raises cyber liability for Australia’s companies

NDB scheme raises cyber liability for Australia’s companies

The imminent introduction of Australia’s notifiable data breaches (NDB) scheme is likely to dramatically increase the liability from a cyberattack for companies, according to a local insurer. The NDB scheme comes into force on 22 February and will require companies to inform both the Office of the Australian Information Commissioner as well as affected customers, in the event of a…

Cyber risk management falls behind threat level, finds Marsh survey

Cyber risk management falls behind threat level, finds Marsh survey

Cyber risk management falls behind threat level, finds Marsh survey

Businesses are more concerned about cybersecurity today than two years ago, according to a new global survey from Marsh and Microsoft, but only a fifth of organisations are highly confident about managing and responding to the threat. Marsh said the survey confirms a “misalignment” between high levels of cyber risk awareness and risk mitigation and risk management. “Cyber risk management…

Insurers and regulators react to cryptocurrency risks

Insurers and regulators react to cryptocurrency risks

Insurers and regulators react to cryptocurrency risks

The cryptocurrency craze has led a number of major insurers to consider policies offering protection against theft and other risks, according to Reuters. Meanwhile, international regulators and central bankers are looking to introduce measures to protect investors and companies against a cryptocurrency crash or financial fraud from unregulated crypto operators. Currently, only a handful of insurers – XL Catlin, Chubb…

Asia lagging rest of the world in insurtech

Asia lagging rest of the world in insurtech

Asia lagging rest of the world in insurtech

The size of Asia’s insurtech market may have been overstated after a report revealed that the region accounts for just 7% of the global total of recognised insurtech startups. The region may be home to some of the biggest and most prolific insurtech conferences and exhibitions, but the latest Quarterly InsurTech Briefing from broker Willis Towers Watson (WTW) states that…

Apple and Cisco team up with Allianz to offer cyber security discounts

Apple and Cisco team up with Allianz to offer cyber security discounts

Apple and Cisco team up with Allianz to offer cyber security discounts

Tech giants Apple and Cisco have recruited Allianz and Aon in their plan to offer cybersecurity discounts to corporate users of their own technology. Clients will be given help in securing their cyber defences and will also be eligible for favourable cyber coverage terms including lower or no deductibles, according to the companies involved in the arrangement. Jason Hogg, chief…

Malaysian organ donor data breach stresses need for cyber investment

Malaysian organ donor data breach stresses need for cyber investment

Malaysian organ donor data breach stresses need for cyber investment

The personal details of some 220,000 Malaysian organ donors and their next of kin have been leaked online since September 2016, according to technology magazine website Lowyat.net. This news came only a day after global consulting firm A.T. Kearney published a report that concludes that member countries of the Association of Southeast Asian Nations (Asean) need to seriously step up…

BI, cyber and nat cats top 2018 Allianz Risk Barometer

BI, cyber and nat cats top 2018 Allianz Risk Barometer

BI, cyber and nat cats top 2018 Allianz Risk Barometer

Business interruption (BI), cyber and natural catastrophes are the leading business risks this year, according to more than 1,900 risk experts from 80 countries polled for the latest Allianz Risk Barometer. The survey by Allianz Global Corporate and Specialty (AGCS), reveals that BI and cyber also remain the leading two risks in Europe, where changes to legislation/regulation and natural catastrophes…

Cyber insurance take-up rises by 50% in India

Cyber insurance take-up rises by 50% in India

Cyber insurance take-up rises by 50% in India

The number of India-based companies that adopted cyber insurance in 2017 increased by 50% on the previous year, according to Marsh India. The broker reports that 250 companies bought cyber liability cover in 2017 for a total of 2bn rupees ($31.4m) and it is forecasting that this figure will double during the next two years. While the cyber liability insurance…

1 2 3 6