Cyber liability emanating from network security breach ranks among the top two business risks in the world, writes Sagar Sanyal. The multidimensional facets of a single successful cyber attack have the capability of hugely affecting the balance sheet of the company. According to an analysis by Cyber Security Ventures in...
Research by Bain & Co. indicates that executives at many companies overestimate the effectiveness of their cybersecurity and lack the strategic capabilities essential for a robust posture, according Gregory Garnier and Syed Ali. While the COVID-19 pandemic hit its peak, businesses across the globe had to make drastic changes to...
While there are some gains to be seen for the insurance industry, organisations must be prepared for reduced consumer spending and technology-driven distribution, writes Krishna Dhanak. The UAE has continued to rank as the largest insurance market in the MENA region for more than a decade. A well-diversified economy, strong...
Noman Zafar and Raghav Ohri outline the complexities of IFRS 17 and how this standard will influence business decisions in the future. The recent deferral by another year pushes the IFRS 17 implementation date to 1 January 2023 and is a relief to overburdened insurers, many of whom are firefighting...
Ryan Olson gives an overview of phishing/malware distribution using COVID-19 themes. With the onset of the COVID-19 pandemic spreading around the world, many of us have had to adapt our lives to accommodate the new reality. Bad guys are no different. They’ve also adapted and are taking advantage of this...
Few industries are immune to the power of algorithms to transform the way business processes are improved. Nigel Nicholson predicts their impact on asset tracing in the global insurance industry. As a professional who has been working in asset tracing for decades, I deeply admire the community of insurance investigators,...
Marsh captures insights on perceptions of risk management activities and capabilities within organisations in its latest survey. Embedded risk management needs to transcend all levels of management within an organisation. Marsh’s latest MENA Risk Management and Insurance Perception Survey 2019 brings to light the lack of communication within organisations and...
M. Rajendran looks at the sharing economy, its challenges and opportunities for the UAE insurance industry. The sharing economy is experiencing huge growth, especially in the UAE. From shared assets, services and digital platforms to the rise of the freelance market, the sector is creating a number of challenges for...
Stephen Harris and Abhijit Naik examine marine insurance policies in the context of risks posed by war or seizure. Even in the earliest days of marine insurance, risks posed by war or seizure were viewed as especially dangerous to insure. In the eighteenth century, insurers imposed a sweeping “free of...
While solvency positions of insurance companies in the UAE have improved the number of inadmissible assets still poses a risk to many organisations according to analysis by Badri Management Consultancy. “While it is extremely important to meet the minimum benchmark of 100 percent it is also of utmost importance...
