Despite advances in safety measures and culture, a repeat of the earthquake would cause economic loss of US$331bn and insurance losses around US$140bn, according to Moody's RMS and Swiss Re.
The global cyber insurance market is expected to reach $23bn by 2025, but will require a high degree of market collaboration to maintain healthy profit margins.
Sources allege that executives at Sompo, including the President, encouraged a continuation of transactions despite concerns surrounding the used car dealer's practices.
APRA’s 2023-24 Corporate Plan sets forth strategies to bolster the continuity of financial services amid rising threats, with cyber-attacks and climate-related financial risks both key concern.
'Wysa Assure' offers mental health support for insureds while providing insights to insurers, with MLC Life in Australia the first to roll out the app.
As concerns continue to grow about South Korea's falling birth date, the Government and GIA have partnered to provide financial assistance for cryopreservation.
