The SingHealth cyberattack and the implications for financial institutions

The SingHealth cyberattack and the implications for financial institutions

The SingHealth cyberattack and the implications for financial institutions

In July 2018, news emerged that between 27 June and 4 July, hackers had infiltrated the IT systems of Singapore Health Services (SingHealth), the largest healthcare group in Singapore. The hackers illegally accessed and copied the non-medical personal particulars of 1,495,367 patients to servers hosted overseas. Approximately 159,000 of the affected group, including Prime Minister Lee Hsien Loong and several…

Flying into the future: Australian Senate Inquiry into drones

Flying into the future: Australian Senate Inquiry into drones

Flying into the future: Australian Senate Inquiry into drones

The long-awaited Australian Senate Inquiry report into the current and future regulatory framework for remotely piloted aircraft (drones) in Australia was released on 31 July 2018. The report was highly anticipated. During the 18-month period of consultation with operators, regulators and businesses, the Senate Inquiry committee heard that Australia is at the forefront of drones. Australia’s aviation regulator, the Civil…

Relentless extension of risk frontiers continues as 2019 beckons

Relentless extension of risk frontiers continues as 2019 beckons

Relentless extension of risk frontiers continues as 2019 beckons

This year’s European Risk Frontiers Survey, sponsored again by HDI Global, is published with this issue of Commercial Risk Europe and once more produces some fascinating insights into the ongoing development of the European risk and insurance management profession. I would pick out the following high-level conclusions based on our discussions with close to 100 of Europe’s leading risk managers…

Risk managers taking centre stage with employee benefits

Risk managers taking centre stage with employee benefits

Risk managers taking centre stage with employee benefits

The world of employee benefits is becoming both increasingly important and complex in the global economy, and risk managers find themselves more and more involved. To investigate these potentially significant opportunities and challenges, Commercial Risk Europe teamed up with MAXIS GBN, the global employee benefits network backed by two of the world’s largest insurance providers – MetLife and AXA, to…

Corporates face wider risks as court rules on Christmas party assault

Corporates face wider risks as court rules on Christmas party assault

Corporates face wider risks as court rules on Christmas party assault

The concept of vicarious liability continues to expand, with implications for corporates and risk managers. A recent UK Court of Appeal decision (Clive Bellman v Northampton Recruitment Limited) in which a company was found vicariously liable for an assault committed by its managing director on an employee at its Christmas party, provides further guidance on the application of the two-stage…

Climate risk disclosure – a globally coordinated approach by regulators?

Climate risk disclosure – a globally coordinated approach by regulators?

Climate risk disclosure – a globally coordinated approach by regulators?

With the world’s leading climate change scientists warning that the world has only 12 years to limit a climate change “catastrophe”, in the UN Intergovernmental Panel on Climate Change, published on 8 October, the focus on climate change has never been higher and regulatory scrutiny of how businesses assess and disclose their climate change risk exposures is set to increase…

Data breach: the requirement of damage and suitability of representative actions

Data breach: the requirement of damage and suitability of representative actions

Data breach: the requirement of damage and suitability of representative actions

After a number of very high-profile data breaches, including at British Airways and Facebook, there has been a great deal of focus on potential class actions to recover damages for individuals affected. The potential number of victims in a data breach (BA estimates about 380,000 and Facebook 50 million) means that any successful class actions could result in very significant…

Emerging risks: does electromagnetic hypersensitivity present a current or future claims risk?

Emerging risks: does electromagnetic hypersensitivity present a current or future claims risk?

Emerging risks: does electromagnetic hypersensitivity present a current or future claims risk?

As technology has increased, there has been an inevitable proliferation in the number of electromagnetic and radiofrequency field sources that people are exposed to on a daily basis.  These include Wi-Fi, power lines, mobile phones and masts, IT equipment and other electronic devices. There are increasing numbers of people who report experiencing unpleasant symptoms due to exposure to these electromagnetic…

Construction market growth solid but risks rapidly evolving

Construction market growth solid but risks rapidly evolving

Construction market growth solid but risks rapidly evolving

The massive european and global construction market continues to grow and offer corporates and their insurers a rich vein of income. However, the risks are complex, fast evolving and demand professional and coordinated risk management. Insurance capacity remains plentiful and rates competitive, but risk and insurance managers can expect a tougher stance from carriers over time as margins narrow. Adrian…

Glyphosate: Science on trial

Glyphosate: Science on trial

Glyphosate: Science on trial

The world’s most popular weed killer, Glyphosate, is being placed under the microscope by scientists, regulators and plaintiff lawyers. Despite four decades of widespread commercial and domestic use on the assumption it was safe, there has been recent increased worldwide concern about myriad potential health effects from exposure to the substance. A test case in California has hit the headlines…

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