Led by Jessica Schappell, the specialist insurer is leveraging its expanded platform under Zurich to corner high-margin, specialist risks across Asia Pacific.
The online life insurer has suspended new applications and other functions of au no Seimei Hoken, the product KDDI sells as its agent, while the two companies investigate.
The hub has succeeded in attracting capital and reinsurers; now the challenge lies in developing the expertise needed to underwrite complex risks locally.
Microsoft’s latest Digital Defense Report ranks Taiwan as the most targeted territory in Asia-Pacific for cyber threats and the fourth most targeted worldwide.
Taiwan, South Korea and Malaysia followed with declines of 15%, 13% and 10%, while Japan and Vietnam were the only markets to record increases, according to Marsh.
Policyholders of Cigna, Great Eastern, HSBC Life, Income Insurance, Singlife and Tokio Marine among those affected by the attack on the third-party administrator.
More uninsured businesses are citing price and product scope as barriers to cyber cover, even as purchase intent rises and extortion attacks on small, non-US firms are expected to expand.
Waiting periods and covered-event triggers could limit recovery, while outsourced hosting arrangements open a route to professional liability and subrogation claims.
