ICA welcomes new approach on building standards but more needed

ICA welcomes new approach on building standards but more needed

ICA welcomes new approach on building standards but more needed

The Insurance Council of Australia (ICA) has welcomed an agreement reached between the states and territories, allowing the Australian Building Codes Board (ABCB) to implement a nationally consistent set of building standards, describing it as a “step in the right direction”. However, ICA CEO Rob Whelan added that action is now “urgently required” to restore confidence in the building and…

Germany, Australia and the US likely hotbeds for future climate-related litigation, says lawyer

Germany, Australia and the US likely hotbeds for future climate-related litigation, says lawyer

Germany, Australia and the US likely hotbeds for future climate-related litigation, says lawyer

A leading lawyer has named Germany, the US and Australia as the three jurisdictions where companies are most likely to face future climate-related litigation. Neil Beresford, a Clyde & Co partner in London, also warned that while such litigation around the world is mostly focused on energy companies and their use of petroleum, other sectors will likely be in the…

China, India, US and Algeria account for 80% of barriers damaging EU exports, says EC

China, India, US and Algeria account for 80% of barriers damaging EU exports, says EC

China, India, US and Algeria account for 80% of barriers damaging EU exports, says EC

A staggering 80% of trade barriers damaging EU exports emanate from only four countries: China, the US, India and Algeria, according to the latest analysis by the European Commission (EC) published this week. New barriers introduced in 2018 were worth up to €51.4bn in hindered exports from the EU-28. This is more than double the €23.1bn lost in 2017, estimates the…

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains that operate through the world’s major hubs are making little or no progress in stamping out child labour, finds new research from Verisk Maplecroft. In its Child Labour Index, the risk analytics firm said manufacturing hubs most entwined in global supply chains – including China, India, Bangladesh, Vietnam and Cambodia – have “not recorded any improvement”…

Ifrima plans academic study to back global programmes campaign

Ifrima plans academic study to back global programmes campaign

Ifrima plans academic study to back global programmes campaign

A serious academic study on the negative impact of inconsistent and protectionist insurance regulation around the world is likely needed if the international risk and insurance management community is to convince regulators of the need for reform from the top down, according to the chair of the International Federation of Risk & Insurance Management Associations (Ifrima). Mary Roth, who is…

Confronting the ethical risks of new technology

Confronting the ethical risks of new technology

Confronting the ethical risks of new technology

The relationship between business and business ethics has always been a contentious one. Notable economists have suggested that ethics are at best a secondary consideration: the overriding purpose of business is to maximise profitability and shareholder returns, constrained only by adherence to the letter of the law. But most modern businesses accept (as does the investor community) that that proposition…

Singapore proposes mandatory insurance for work injuries

Singapore proposes mandatory insurance for work injuries

Singapore proposes mandatory insurance for work injuries

A review of the Work Injury Compensation Act (WICA) by Singapore’s Ministry of Manpower (MoM) has proposed extending mandatory insurance coverage so that workers have a greater chance of being compensated for workplace accidents and injuries. The review proposes extending both the breadth of coverage and the size of the payouts. At present, WICA requires employers to compensate their employees…

Singapore reveals new medical data breach

Singapore reveals new medical data breach

Singapore reveals new medical data breach

Singapore’s health ministry has disclosed that more than 14,200 people with HIV had their registry data leaked online raising more questions about the security of its citizens’ medical records. The cyberattack, which occurred in 2016 but was only discovered on 22 January, is the second major leak of personal health data to be reported in less than a year following…

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…

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