Swift report shows concentration of bank cyberattacks in southeast Asia

Swift report shows concentration of bank cyberattacks in southeast Asia

Swift report shows concentration of bank cyberattacks in southeast Asia

Banking cooperative Swift, which runs the global network for interbank payments, has issued a new report on bank-focused cyberattacks, which shows that four out of five of all fraudulent transactions were issued to beneficiary accounts in southeast Asia. The report is part of Swift’s information-sharing initiative, which was established in the wake of the 2016 cyberattack on the central bank…

Slowing eurozone growth to run at half pace of global economy: Atradius

Slowing eurozone growth to run at half pace of global economy: Atradius

Slowing eurozone growth to run at half pace of global economy: Atradius

Growth in the world’s economy is set to slow this year, with the eurozone forecast to run at about half the global pace, according to new outlooks published by trade credit insurer Atradius. The company said it is important for companies to monitor wider market trends when assessing the “robustness” of customers around the world. According to Atradius, global growth…

Asian P&C rates to rise by 10% says WTW

Asian P&C rates to rise by 10% says WTW

Asian P&C rates to rise by 10% says WTW

Global broker Willis Towers Watson (WTW) has forecast that catastrophe loss-affected property and casualty (P&C) rates will rise by at least 10% in Asia through 2019. The broker has also called for a new approach to risk and insurance in the region, as a result of a more sophisticated corporate marketplace driven by global economic and political pressures. The forecasted…

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing has suspended all 371 of its worldwide 737 Max aircraft fleet, after the US became the last major country to ground the planes over safety fears. The decision follows news that Global Aerospace is the lead insurer for Boeing, with Chubb confirmed as lead underwriter of the Ethiopian Airlines plane that crashed on Sunday and Willis Towers Watson the broker…

China and North Korea adding to new levels of political risk, warns Marsh

China and North Korea adding to new levels of political risk, warns Marsh

China and North Korea adding to new levels of political risk, warns Marsh

Multinationals face “unprecedented uncertainty” caused by growing political risk, Marsh warned on publishing its Political Risk Map 2019. Marsh added that trade disputes, protectionism and geopolitical tensions have created an “unstable” environment for multinational companies with direct foreign investment. The updated Political Risk Map uses data from Fitch Solutions to rate more than 200 countries’ political, economic and operational stability.…

RIMS report highlights need for active shooter plan

RIMS report highlights need for active shooter plan

RIMS report highlights need for active shooter plan

US risk association RIMS has produced a new report – Active Shooter Preparedness for Your Organisation – encouraging its members to customise an active shooter plan that focuses on prevention, training, feedback and post-incident protocols. In doing so their workforce will be mentally and physically prepared to react to violent threats, the report says. The need for this was recently…

CyberScout announces new cyber insurance distribution model in SE Asia

CyberScout announces new cyber insurance distribution model in SE Asia

CyberScout announces new cyber insurance distribution model in SE Asia

Cybersecurity firm CyberScout has announced two new partnerships with insurers, which it claims will help form a new model for the distribution of cyber insurance for small and medium-size businesses (SMEs) in southeast Asia. The two insurers, Philippines-based Pioneer Insurance and Surety and Taiwan’s MSIG Mingtai, have struck an agreement whereby CyberScout’s cyber services will be incorporated into the respective…