Businesses should carefully consider—in advance—how they would manage a ransomware attack, cautions Christos Adamantiadis. “Your files have been encrypted. You have five days to submit the payment, or your files will be lost.” The ominous message glaring out from your screen isn’t farfetched—or even unusual. Instead, this common scenario plays...
Despite the economic toll on SMEs, there is an opportunity for the insurance industry to grow within this sector while simultaneously providing essential coverage and security for the future, writes Ramzi Ghurani. The COVID-19 pandemic isn’t just a public health emergency, it is also an economic crisis that is hitting...
Insurers in the GCC region need to realise the importance of a focused health care actuary within their organisations, observes Syed Danish Ali. Health insurance is the largest line of business within non-life business in the UAE and KSA in recent years. In the KSA, health is the largest insurance...
Environmental insurance can serve as a risk management tool against Na-Tech risks, writes Yuri Markin. The issue of global climate change continues to be an increasingly important area of focus throughout our daily lives. Most people agree that the adverse impact of climate change directly results in both global warming...
Insurers plan to increase the number of ETFs in their investment portfolios, according to analysis by Invesco. A Premium Report. The use of Exchange-Traded Funds (ETF) by insurers has grown both in terms of assets and portfolio applications in recent years, and more plan to increase their allocations in the...
Changing needs of the policyholder in a post-COVID world needs careful consideration from an insurance perspective, writes Shivash Bhagaloo. Regulatory sandboxes are a recent trend. The idea of a ‘sandbox’ is that creating a temporary environment that fosters innovation without many of the burdensome compliance requirements can lead to better...
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...
