There is a growing awareness of how system failures can harm reputation amid digital transformation and tech adoption according to WTW's Global Reputational Risk Readiness Survey 2024/25 released in May 2025.
In APAC, there are 40% more cyber attacks on businesses per week than the global average, making the region a very target-rich environment and one that attracts a lot of cyber criminals, Pan-Asia Risk and Insurance Management Association director Steve Tunstall said.
The question of how insurance policies may be impacted amidst the current trade war, tariffs and the effect on supply chains was one hot topic at the InsurTech Connect Asia 2025 conference which opened on 3 June.
Majority of Malaysian organisations are facing escalating cyber attacks powered by AI while cyber security investment is lagging.
APAC accounted for more than one-third of global cyber offensive in 2024 according to IBM's X-Force Threat Intelligence Index 2025. Collectively Asia Pacific and America accounted for nearly 60% of all attacks that IBM X-Force responded to globally.
Insurance rates in the Pacific region declined 8% in the first quarter of 2025, revealed Marsh's Global Insurance Market Index.
To help financial firms prevent fraud attempts on their companies and customers, US-headquartered FS-ISAC, which advances cyber security and resilience in the global financial system, has published "Leveling Up: A Cyber Fraud Prevention Framework for Financial Services".
Composite insurance rates in the first quarter of 2025 decreased by 4% in the India, Middle East and Africa (IMEA) region, where rates for large and complex organisations are often driven or influenced by the reinsurance market, according to the 'Global Insurance Market Index' report published by the world's biggest insurance broking group Marsh.
Composite insurance rates in Asia fell 3%, on average, in the first quarter of 2025 due to competition, according to the Global Insurance Market Index released by Marsh.
The Minister of Economy and Finance, Ms Nadia Fettah, has announced the insurance industry was developing an insurance offering against cyber risks.