Standard Chartered Bank Singapore has become the first bank in Singapore to offer complimentary digital scam protection insurance to its clients.
Marsh Specialty has appointed Mr Andrew George as president. He will also join the Marsh Executive Committee.
The Federation of Egyptian Insurance Companies has sounded the need for insurers to cooperate with real estate developers and technology providers to create insurance products for smart homes.
The rapid growth of cyber insurance has prompted insurers to be cautious about overexposing themselves to high-risk areas.
The insurance regulator, the National Insurance Commission (NAICOM), is urging insurance companies to develop and introduce cyber insurance products in response to increasing digital risks.
QBE Insurance has released the findings from this year's QBE Hong Kong SME Survey, conducted between November 2024 and January 2025 with input from 600 decision-makers.
Composite insurance rates in Asia dropped by 3% in 4Q2024, as compared to 4% in 3Q2024, according to Marsh's "Asia Insurance Market Rates: 2024 Fourth Quarter", published in February 2025. Of the countries surveyed, Korea's rates fell the most by 9%, while Taiwan's rates increased by 11%.
The decision by the UK and the US not to sign a declaration at the Artificial Intelligence Action Summit in Paris earlier this week has laid bare the growing divisions over international oversight of the technology. It behooves the insurance industry to be ready for any challenge arising from this situation.
Singapore is rolling out comprehensive cybersecurity training for about 500 board directors in 2025, as part of a nationwide initiative to strengthen corporate defenses against digital threats.
According to a digital report published by Marsh, (re)insurers in the Middle East are "eager to expand their property portfolios".