China yesterday proposed relaxing some rules concerning the transfer of data abroad in a move likely to bring some relief to foreign and Chinese companies in the country who trade overseas, reported Reuters.
Some of China's cross-border data transfer regulatory requirements are not very clear or practical, which creates significant uncertainties and, in many cases, results in unfair disadvantage for foreign-invested insurance companies due to expansive interpretation, says the Insurance Working Group (IWG) of the European Chamber in China.
The New Zealand cyber claims environment has seen fewer but more ferocious, larger and successful ransomware attacks, says lawyers at the Australasian legal firm, Wotton + Kearney.
The 12 new teams that are joining the 11th cohort of the Lloyd's Lab will work on the new theme Asia-Pacific Climate Risk, Cyber and Sustainability. In addition, Data & Models and New Products will be the other two themes carried forward, with each InsurTech being aligned with one of the three themes.
In 2022 more Singaporeans were aware of online scams and cyber security measures, as compared to 2020, (43% vs. 32%) yet many still fail to adopt cyber security practices.
The IRDAI has set up a standing committee on cyber security to review regularly the risks inherent in existing and emerging technologies in the sector.
Cyber crime poses the greatest global threat to insurers over the next two to three years according to a new survey conducted by PwC and think tank The Centre for the Study of Financial Innovation (CSFI).
Moody's RMS™, the leading global catastrophe risk modelling and solutions company, has announced the launch of Moody's RMS Cyber Industry Steering Group to develop industry initiatives that respond to the growth of the global cyber insurance market.
Freedom from cyber incidents cannot be guaranteed by simply checking regulatory compliance boxes. Compliance policies are standardised by design and creating personalised security policies on a case-by-case basis is not feasible on a large scale.
A significant gap continues to grow between insurance providers and organisations seeking affordable and comprehensive cyber insurance coverage according to a new study.