The Federation of European Risk Management Associations (FERMA) has submitted a final text on Solvency II to the French presidency of European Commission (EC).
Cyber security budgets of US organisations could increase by as much as 50% in the next 12 months according to nine out of 10 respondents participating in a survey by cyber security firm Kaspersky.
Continuing COVID-19 restrictions in most Asian jurisdictions, potential challenges in the property market (whether related to Evergrande or otherwise) in combination with global supply chain issues, rising energy prices, increasing inflation and the withdrawal of temporary pandemic relief measures suggest that 2022 will be a bumpy ride for the Asian insurance market, even without further resurgent COVID-19 outbreaks.
Following the slew of regulatory changes implemented in 2021, 2022 will be the year in which insurers learns how to work with the new regulatory regime, and for ASIC to initiate some high-profile licence condition or enforcement actions to test the new regime.
The CBIRC has issued guidelines on IT outsourcing by insurers and banks aimed at getting the financial institutions to embed risk management in IT outsourcing and to control the related risks.
Whilst many organisations are aware of the short-term technical and operational impacts of cyber incidents, they are often unprepared for the longer lasting impact of cyber incidents on their reputation according to specialist insurer Beazley.
An exponential increase in the number of digital accounts and subsequent online activity will fuel cyber attacks with greater severity in 2022 across digital touchpoints, according to Arkose Labs.
Ransomware continues to be a persistent and highly pervasive threat for organisations across the globe according to a new report by cyber security firm CrowdStrike.
By 2025, at least 30% of critical infrastructure organisations will experience a security breach that will result in the halting of operations- or mission-critical cyber-physical system according to a new survey by Gartner.
Organisations that proactively test their security capabilities are 2.5 times more likely to maintain business resiliency according to Cisco's latest cyber security report.