New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

The Chinese government has continued its crackdown on market confusion acts, trade secret infringement and internet-related misconduct, and is focusing its efforts particularly on the online and pharmaceutical industries. Experts advise risk managers with companies that procure products from China to make doubly sure that they are asking the right questions of suppliers to ensure that they are compliant. The latest…

Human error sparks high number of data-breach notifications in Australia

Human error sparks high number of data-breach notifications in Australia

Human error sparks high number of data-breach notifications in Australia

Risk managers need to focus as much on people as machines when working out how to prevent data breaches, because human error is the second-highest overall source of the problem – and in some sectors the highest – according to the second quarterly report into notifiable data breaches, issued by the Office of the Australian Information Commissioner (OAIC). The commissioner…

IMRF to expand search-and-rescue training across Asia on back of Malaysian success

IMRF to expand search-and-rescue training across Asia on back of Malaysian success

IMRF to expand search-and-rescue training across Asia on back of Malaysian success

The International Maritime Rescue Foundation (IMRF), the charity that prevents loss of life in the world’s waters, has held a two-day Inter Regional Mass Rescue Workshop for the Asia-Pacific region in Kuala Lumpur, Malaysia, alongside the seventh International Search and Rescue Conference and Exhibition. The foundation reported a healthy attendance from key Malaysian bodies, representatives of the Korean defence attaché…

Malaysian central banker calls for more innovative risk management to build a better future

Malaysian central banker calls for more innovative risk management to build a better future

Malaysian central banker calls for more innovative risk management to build a better future

Risk managers need to reassess their role and approach to help companies make better and more innovative risk-based decisions, including taking risks rather than avoiding them, a senior executive of the central bank of Malaysia told the recent annual meeting of the Malaysian Association of Risk and Insurance Managers (MARIM). Puan Jessica Chew Cheng Lian, deputy governor of Bank Negara…

Chinese investors need to adopt good risk management practice when operating in South Africa

Chinese investors need to adopt good risk management practice when operating in South Africa

Chinese investors need to adopt good risk management practice when operating in South Africa

Some 20 years after China and South Africa opened diplomatic relations, China has become the country’s largest trading partner. However, a new report from Control Risks shows there are still some issues for Chinese investors. Bilateral trade grew 11.7% to $39.17bn in 2017 – just under a third of total China-Africa trade. Chinese foreign direct investment (FDI) into South Africa…

Political tension in South China Sea means Asia bucks global shipping loss trend

Political tension in South China Sea means Asia bucks global shipping loss trend

Political tension in South China Sea means Asia bucks global shipping loss trend

Asia bucked the trend in shipping losses last year as incidents in the south China, Indochina, Indonesia and Philippine maritime region leapt by 25% in 2017, while on a global basis, large shipping losses continued to fall, according to latest numbers from Allianz Global Corporate & Specialty (AGCS). Territorial disputes between China, South Korea and the Philippines involving US naval…

Labuan sees 10% growth in captives in 2017

Labuan sees 10% growth in captives in 2017

Labuan sees 10% growth in captives in 2017

The Labuan International Business and Financial Centre (LIBFC) saw the number of captive licences issued increase to 43 in 2017 from 39 in the previous year. In total, there were 14 insurance and insurance-related new setups in LIBFC in 2017. However, the total number of insurance-related licences fell from 204 to 203. The number of reinsurance-licensed companies fell from 44…

China braces for deadly typhoon as Japan counts human and economic cost

China braces for deadly typhoon as Japan counts human and economic cost

China braces for deadly typhoon as Japan counts human and economic cost

China is bracing itself for the impact of Typhoon Maria, which has already led to the deadliest flood disaster in Japan since 1983, caused huge disruption and will lead to heavy insured losses, not least business interruption. The typhoon skirted past Taiwan and caused much lower damage than originally expected. But it continued northwest toward the eastern coast of China, making…

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