The Nuclear Threat Initiative's NTI Index 2020 reveals that only 47% of the countries have a response plan in place for a cyberattack on a nuclear facility. The NTI Index 2020 also found that most of those nations also do not have adequate regulations for cybersecurity. Only 34% receive a high score for cybersecurity.
The Insurance Council of Zimbabwe (ICZ) says that some compensation relating to road accidents have gone unpaid mainly due to a lack of adequate knowledge.
The Financial Sector Conduct Authority (FSCA) has published a revised draft Conduct Standard delineating the requirements relating to third party cell business (Draft Conduct Standard).
The Kuwaiti Insurance Regulatory Unit has issued a bundle of decisions and measures regarding the regulation and control of insurance activity for Kuwaiti and foreign companies and insurance brokers.
Sino-French Life Insurance, a joint venture set up by China Post and France's CNP Assurances, may have to file for bankruptcy or the authorities could take control of the insurer due to the firm's lack of solvency.
The International Financial Services Centres Authority (IFSCA) has formed a panel of industry experts to formulate a plan to develop international retail business at the International Financial Services Centre (IFSC).
With close to 2m COVID-19-positive cases in the region, insurers in South Asian markets are rising to the occasion to serve their clients by keeping offices functioning, introducing new products and promptly settling claims.
The central government may classify insurance as a strategic sector under a new privatisation policy, along with sectors such as railway, oil and gas, defence, space and atomic energy.
Online transactions through the Internet and the use of mobile applications need a new legislative framework to keep pace with the rapid digital development, says insurance expect Mohamed El-Morsy.
Clement Cheung, CEO of the Hong Kong Insurance Authority, has been re-elected as chairman of the Asian Forum of Insurance Regulators. Mr Cheung's second term is for two years until 2022.