Half of Australian respondents and 47% in Singapore reported higher cyber insurance costs or lost coverage following ransomware attacks, exceeding the global average of 42%.
Facilities that are out of date on completion and equipment that cannot be replaced new for old are complicating cover, while clustered sites raise aggregation concerns, speakers at the PARIMA Singapore...
Companies should map AI use, document controls and test incident plans as automated systems create exposures across cyber, liability and business interruption.
The partnership adds Peak Re to GAIP's expanding network as the platform works to address protection gaps across the region through greater industry collaboration.
The appointment follows Howden's recent expansion of its Australian sport and entertainment practice with the recruitment of multiple former Marsh executives.
The Singapore-flagged container ship sank after a projectile strike on 13 October, while NorthStandard-entered GFS Giselle took hull damage a day later.
From 1 November, the revised rules require insurers to set up product committees led by their principal executive, conduct regular product reviews and strengthen accountability for product failures.
