Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

The coronavirus outbreak provides a critical test of the southeast Asia region’s ability to diversify global supply chains and reduce its dependency on China, according to Sofia Nazayla, analyst at Maplecroft, a UK-based global risk and strategic consulting firm. This ‘black swan’ event has already had a global economic impact that will inevitably intensify. But leading southeast Asian economies such…

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

The Pan-Asia Risk & Insurance Management Association (Parima) has created a webpage for its members to keep them abreast of the latest developments with the novel coronavirus and provide support and advice at this difficult time for all companies in the region. Parima chairman Franck Baron is also Singapore-based group deputy director, risk management and insurance at International SOS, the…

Asian risk managers under less pressure on cyber, D&O and climate change than international peers

Asian risk managers under less pressure on cyber, D&O and climate change than international peers

Asian risk managers under less pressure on cyber, D&O and climate change than international peers

Cyber coverage is being extended across Asia-Pacific and big investment is being made in raising awareness of the risk by authorities across the region, but risk and insurance managers still seem unwilling to recognise the need for the cover, according to Franck Baron, chairman of the Pan-Asia Risk Management and Insurance Association (Parima) and group general manager – risk management…

Indian risk managers face tricky year but underlying political stability a plus: IRM

Indian risk managers face tricky year but underlying political stability a plus: IRM

Indian risk managers face tricky year but underlying political stability a plus: IRM

Risk managers in India face many challenges in 2020, such as a slowing economy, rising cyber threat and extreme weather. But the majority gained by the Modi government last year should at least deliver a level of political stability and economic policy consistency not seen in recent times. This should help Indian businesses weather the storm and ensure that the…

IRM urges Asia-Pacific risk managers to focus on enabling positive change

IRM urges Asia-Pacific risk managers to focus on enabling positive change

IRM urges Asia-Pacific risk managers to focus on enabling positive change

Risk managers in the Asia-Pacific region need to focus on explaining to senior executives that risk management is an enabler to help achieve objectives rather than blocking progress, according to the Institute of Risk Management (IRM). The IRM’s recently published predictions for 2020 said that Asia-Pacific risk managers must help business leaders understand uncertainty as an important part of working…

Risk managers must act to tackle climate change as premiums soar in Australia

Risk managers must act to tackle climate change as premiums soar in Australia

Risk managers must act to tackle climate change as premiums soar in Australia

Australian risk managers, particularly those in the tourism industry, must brace themselves for tough renewals during 2020 as the bushfires that have devastated the country during the last two months continue to rage. A leading tourism association executive warned only last month that any “responsible” risk manager would accept that the mounting evidence of the dramatic impact of climate change…

Confidence and risk both set to rise sharply in Asia next year

Confidence and risk both set to rise sharply in Asia next year

Confidence and risk both set to rise sharply in Asia next year

Asian companies expect to see a sharp spike in business confidence as they enter 2020, with 76% of firms expecting to be confident by May 2020 despite ongoing political problems in Hong Kong and China’s trade war with the US, according to a survey carried out by insurer CNA Hardy. The insurer said that given the political instability in Hong…

Corporates urged to step up climate disclosure as liability and regulatory risk gather pace

Corporates urged to step up climate disclosure as liability and regulatory risk gather pace

Corporates urged to step up climate disclosure as liability and regulatory risk gather pace

A failure by corporates to improve climate risk disclosure would invite further regulation, according to experts taking part in a webinar hosted by Commercial Risk. Panellists agreed that while it is “early days” for companies adopting the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), some corporates are not taking the measures seriously enough. Neil Beresford, a partner…

Parima members urged to focus on business travel risk as concerns over geopolitical shifts rise

Parima members urged to focus on business travel risk as concerns over geopolitical shifts rise

Parima members urged to focus on business travel risk as concerns over geopolitical shifts rise

Security threats, civil unrest and geopolitical unrest are the three top risks that may persuade business travel managers to change their itineraries in 2020, according to the Business Resilience Trends Watch Survey carried out by medical and travel services company International SOS. The survey, based on responses from more than 1,300 business travel decision-makers, is carried out in partnership with…

Cyber remains top of the list for Indian risk managers finds RIMS-Marsh survey

Cyber remains top of the list for Indian risk managers finds RIMS-Marsh survey

Cyber remains top of the list for Indian risk managers finds RIMS-Marsh survey

Large-scale cyberattacks remain the top risk for corporations across India, according to a joint study conducted by Marsh, the world’s leading insurance broker and risk adviser, and RIMS, the North America-based international risk management society. The resulting report, Excellence in Risk Management – State of Risk Management in India in 2019, was published by RIMS and Marsh at the RIMS Risk…

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