Majority of employees believe equal pay is enough for gender equality: MAXIS

Majority of employees believe equal pay is enough for gender equality: MAXIS

Majority of employees believe equal pay is enough for gender equality: MAXIS

Two thirds of employees across the globe (65%) believe equal pay is enough to create gender equality, with issues such as equal opportunities and non-discrimination and sexual harassment policies seen as less important factors, according to new research from MAXIS Global Benefits Network. MAXIS’s research involving 1,000 workers in ten countries also found that 67% of employees said annual gender…

Oxfam uncovers supply chain abuses among global supermarkets

Oxfam uncovers supply chain abuses among global supermarkets

Oxfam uncovers supply chain abuses among global supermarkets

Oxfam has found evidence of poverty pay, abuse and gender discrimination in supply chains of global supermarkets. News of such conditions come at a time when risk managers are becoming increasingly involved in environmental, social and corporate governance issues. Oxfam found poor pay and harsh working conditions in farms and plantations that supply tea or fruit to global supermarkets including…

Australian Reserve Bank warns that climate change could threaten viability of insurance sector

Australian Reserve Bank warns that climate change could threaten viability of insurance sector

Australian Reserve Bank warns that climate change could threaten viability of insurance sector

The Reserve Bank of Australia (RBA) has warned that if investors and financial institutions do not take the impact of climate change more seriously, there is a good chance that critical business and personal risks will become increasingly uninsurable. The bank also warns in its latest Financial Stability Review that if insurers fail to price the related risks accurately enough,…

MAS maintains focus on fight against cyber risk and urges greater collaboration worldwide

MAS maintains focus on fight against cyber risk and urges greater collaboration worldwide

MAS maintains focus on fight against cyber risk and urges greater collaboration worldwide

The Monetary Authority of Singapore (MAS) is continuing its investment in the fight against cyber risk and crime, to ensure that it is viewed as one of the safest financial centres worldwide and a leader in cyber risk management. Vincent Loy, assistant managing director (technology) at the MAS, recently gave a speech entitled, ‘Building cyber resilience across the financial sector’,…

Water crises, terror attacks and environmental catastrophes top Asian executives’ agenda

Water crises, terror attacks and environmental catastrophes top Asian executives’ agenda

Water crises, terror attacks and environmental catastrophes top Asian executives’ agenda

Water crises, terrorist attacks and man-made environmental catastrophes were the top three risks identified by executives across south Asia who took part in the World Economic Forum’s (WEF)  recently published Regional Risks for Doing Business 2019 report. The report, published in partnership with Marsh and Zurich, shows a big difference between the top risks identified by south Asian executives and…

Singapore minister warns that corporate governance must not stifle innovation

Singapore minister warns that corporate governance must not stifle innovation

Singapore minister warns that corporate governance must not stifle innovation

Corporate governance must be based on outcomes rather than box-ticking to encourage innovation and balanced risk-taking rather than risk aversion, according to Ong Ye Kung, minister for education and board member at the Monetary Authority of Singapore (MAS). Speaking at the recent Securities Investors Association of Singapore’s Global Corporate Governance Conference 2019, Mr Kung said people must also understand that…

UK P&I Club issues recommendations after China fines ships over sulphur fuel breaches

UK P&I Club issues recommendations after China fines ships over sulphur fuel breaches

UK P&I Club issues recommendations after China fines ships over sulphur fuel breaches

The UK P&I Club has warned member shipping companies that it has been notified by Oasis P&I Services Company of cases in Guangzhou, Shanghai, Qingdao and some other Chinese ports where local Maritime Situational Awareness (MSA) offices have strengthening supervision and imposed penalties on ships that were found to be in breach of sulphur fuel rules. The club explained that…

Australia’s continuous disclosure regime under the microscope as class actions rise

Australia’s continuous disclosure regime under the microscope as class actions rise

Australia’s continuous disclosure regime under the microscope as class actions rise

The rapid rise in class actions brought in Australia against corporations operating under the continuous disclosure regime for listed companies shows no signs of abating, based on latest analysis from law firm Jones Day in its recently published fifth review of Australian class actions. The recent connected rise in directors and officers (D&O) claims will inevitably continue as a result,…

Alliance launched to tackle ocean risk

Alliance launched to tackle ocean risk

Alliance launched to tackle ocean risk

A new alliance to tackle ocean risk has been launched at the UN Climate Action Summit 2019. The Ocean Risk and Resilience Action Alliance (ORRAA), which includes companies from the risk management and insurance industry, aims to build resilience in the communities and regions most affected by changes to the ocean. It will accelerate research to better understand and manage…

IUMI calls for action on ‘alarming’ cargo theft risk

IUMI calls for action on ‘alarming’ cargo theft risk

IUMI calls for action on ‘alarming’ cargo theft risk

The International Union of Marine Insurance (IUMI) has called for greater law enforcement and business action to mitigate the growing risk of cargo theft, which it warns has reached “alarming proportions”. In a position paper published to coincide with its annual conference in Toronto, IUMI proposed dedicated cargo theft taskforces to coordinate law enforcement across borders and develop effective networks…

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