Waiting periods and covered-event triggers could limit recovery, while outsourced hosting arrangements open a route to professional liability and subrogation claims.
Insurers have so far counted US$170m in preliminary claims, but the country may need up to US$5bn, or around 10% of GDP, to rebuild after the disaster.
QBE’s survey finds that nearly half of Hong Kong construction firms lack cyber cover, with supply chain attacks in Hong Kong and Singapore outpacing the global average.
The new facility will provide property damage and business interruption cover for both nuclear-critical and conventional risks, from construction to operation.
Rising AI adoption and deepening cloud dependencies are amplifying cyber risks as interest in cyber insurance continues to build, according to Munich Re.
Four submissions covering business pack and interruption insurance, workers’ compensation, and cyber insurance have been lodged before a Parliamentary Joint Committee inquiry.
Phoenix Mills becomes the first Indian company to secure parametric trigger-based insurance to protect against pandemic- or epidemic-related business interruption losses.
