New, emerging risks present opportunities for insurers: MAS
Central bank deputy MD points to cyber risk insurance as a critical component of comprehensive risk management
Singapore
EVEN as global economic growth remains sluggish and alternative capital floods the insurance sector, driving down premiums and narrowing profit margins, new and emerging risks present opportunities to the industry, especially in under-insured Asia.
In her illustration of the sector's outlook at the 13th Singapore International Reinsurance Conference on Tuesday, Jacqueline Loh, deputy managing director of the Monetary Authority of Singapore (MAS) cited cyber, liability, supply chain and reputation - mostly intangible - as examples of these new and emerging risks.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations