AI may be shifting from an emerging capability to a core part of how Australian businesses operate, but new research has shown that this shift is also rapidly reshaping cyber risk, turning what was once seen primarily as a productivity and efficiency enabler into a current and increasingly complex operational challenge.
The Australian Prudential Regulation Authority (APRA) has written to banks, insurers and superannuation funds, setting out its minimum expectations in relation to their readiness for geopolitical shocks.
Although the US-Iran peace memorandum of understanding and the reopening of the Strait of Hormuz present a positive signal, the market is unlikely to view this as a definitive turning point at this stage, said Willis Head of Marine, Asia Lewis Hart.
MS Amlin has appointed Ms Kirsten Mitchell-Wallace as Chief Risk Officer (CRO) and Mr Philip Young as Chief Information Officer (CIO). Both appointments are subject to regulatory approval.
From a risk management perspective, the Iran-US MOU should be assessed beyond its immediate political implications. For the insurance industry, the key question is whether this framework creates sustainable regional stability or only provides a temporary reduction in uncertainty, according to Ms Ashwag Alzahrani, an actuary and co-founder of Saudi Arabia's Risk IQ Consulting.
Lockton Asia has appointed Ms Sandra Lee as Chief Growth Officer - Risk Solutions, Asia, and Mr Yuman Chan as Chief Growth Officer - People Solutions, Asia.
More than 95% of average data breach losses and 90% of average first-party losses are adequately covered by insurance, according to a new report by Willis.
South Korea's Employment Insurance Fund recorded its highest spending level since the height of the COVID-19 pandemic, with expenditures exceeding KRW20tn ($13.3bn) in 2025 amid rising unemployment benefit payments and enhanced childcare leave support.
Companies in China are ramping up investment in AI but are simultaneously grappling with increasing risks around vendor dependence, intellectual property exposure and cybersecurity, according to a new survey by global law firm DLA Piper.
Treasury Cabinet Secretary John Mbadi has announced that the Government has initiated amendments to the Insurance Act to establish agricultural insurance as a standalone class of insurance business.