With the launch of cultural insurance in April 2024 in Saudi Arabia covering artworks and cultural assets, insurance companies are beginning to provide insurance products for the cultural and heritage sector, according to the official spokesman for the Saudi Ministry of Culture, Mr Abdulrahman Almutawa.
Cyber incidents is the top business risk in India for the seventh consecutive year according to the latest Allianz Risk Barometer, compiled by Allianz Commercial, which is Allianz Group's corporate insurer.
The outage involving telecommunications company Optus' services on 8 November 2023 led to widespread disruption to Australian businesses who might wish to consider their insurance position. Early indications, however, suggest that recourse to common forms of business insurance may be limited, at best, says Ms Lucy Terracall, a partner of the law firm Clayton Utz.
Some of the world's largest and important ports may become unusable by 2050 as rising sea levels hit operations according to a new report released in September 2023.
While energy transition requires a dramatic increase in the supply of critical materials, their supply chains remain vulnerable to a range of geopolitical risks according to a new report by the International Renewable Energy Agency (IRENA).
The risk of contingent business interruption has overtaken the risk of cyber security as the top risk for technology sector in Asia according to a new survey conducted by global (re)insurance broker Marsh.
A new report by the Chartered Insurance Institute (CII) exploring the threat of hybrid working on London insurance market says that as hybrid working is here to stay, companies must address the associated risks to their organisation, principally the potential for erosion of talent pools from the bottom up.
The sharp increase in rolling power outages in South Africa has led to soaring claims for power-related damage, with several insurers announcing that they are withdrawing coverage for electricity grid failures.
The Insurance Federation of Egypt has called on insurance companies to develop appropriate strategic plans to ensure their continued operations in the event of any emergency circumstances.
Business interruption and cyber incidents rank as the biggest risks in Asia Pacific this year, according to the latest Allianz Risk Barometer published yesterday.