Regulation

Data breach Getty

Australia will tighten data protection rules after Optus cyber attack

Sensitive data of around 10 million customers, or about 40% of the population, were compromised

Cyber

Research shines light on digital trust gap

While nearly all respondents in Australia and New Zealand say that digital trust is important, just 12 percent have a dedicated staff role

renewable energy

Insuring the transition

By Helen Yates

The insurance industry has a ‘once in a lifetime’ chance to support the transition to Net Zero, so what’s holding it back

climate risks

Two thirds of boards discussing climate impact in Singapore, Philippines

Lack of climate risk expertise and data are seen as the main obstacles for climate financial disclosure - WTW

SR_web_Rosie Hawes

Taking an authentic approach to ESG

Why relying on ESG ratings may be the quickest way to undermine your own reputation for ESG compliance

cyber topic

Cyber extortion grows in sophistication, warns Beazley

Data exfiltration is now prevalent in a significant majority of incidents as extortion techniques become increasingly complex

data security

Cyber security remains “chief risk” for IT audit teams

War-related cyberattacks are on the rise and the surge of sophisticated ransomware attacks is ongoing, warns research

fraud prevention button

1-in-4 falling victim to fraud in APAC - Experian

Nearly half of businesses say fraud is a high concern but just 25% of Singaporeans say their expectations are being met

ESG

Who pays for ESG?

There are massive upfront costs in getting your organisation ESG-ready. So who pays?

Cyber resilience

India’s new cyber rules criticised by tech firms

The data protection rules will require firms to report a breach within six hours of discovery

SR_web_Bev Adams

ESG: Where are you on your journey?

Knowing where to start with ESG can be daunting for even the most seasoned of risk managers

singapore

Singapore sets up cybersecurity centre

NTU Singapore and CSA Singapore launch joint centre for cybersecurity evaluation, research, and education

regulation, compliance, plans

RIMS-WTW: Risk managers challenged by ESG compliance

How supply chain risks, D&O responsibilities and the rise of climate-related litigation are shaping the risk landscape

SR_web_Atul Vashistha

Are you ready for the SEC climate rules?

Publicly-listed firms will be compelled to report on third party climate risks as well as their own

cyber insurance, city

Cyber remains a leading risk for Asia

By Dan Dunkley

Cyber is an ever-present threat, while sustainability is a top emerging risk for Asian corporates

singapore

Singapore to increase data breach fines for FIs

Under the Financial Services and Markets Bill the maximum fine would be raised to $1m per breach

Cyber security April 2021 Aviva EV

Clyde & Co launches APAC cyber risk practice

Chris McLaughlin joins from Aon to head up the venture - a response to ’heightened cybersecurity pressure’ on APAC firms

ESG acronym cubes

Boardrooms yet to fully grasp ESG risk - Marsh

Less than one-third of the FTSE100 sample showed evidence of standalone reporting on climate change risk in line with TCFD

ransomware (2)

Improve ransomware preparedness, Asian corporates urged

2021 was region’s “most challenging year yet for cyber insurance”, according to Aon Asia Market Review

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Allianz Risk Barometer: Cyber and BI top concerns

Cyber ranks top Asia Pacific risk for the third consecutive year

Hong-Kong-Island-Victoria-Peak

Hong Kong in bid to strengthen international risk management role

The region’s chief executive Carrie Lam outlined plans to strengthen the SAR’s position as a centre for risk and insurance

Slavery

US Xinjiang bill demands full supply chain visibility

Companies must map highly complex supply chains to identify signs of modern slavery - Verisk Maplecroft

SR_web_Steve Wilford

Geopolitics, climate crisis and state meddling

Why 2022 will be a high-wire act for Asian businesses

ethics

Firms failing to address unethical behaviour - EY

Standards of corporate integrity have stayed the same or worsened since COVID began

diverse board room

D&O risks in 2022 defined by COVID and diversity

Brokers have flagged emerging D&O risks, including COVID liabilities and ESG considerations

SRGlobalBenchmarkSurvey_781x521

Asia Pacific Risk Benchmarking Survey 2021: Show us the money

Boards remain more engaged in risk, but it’s time to start putting their money where their mouths are

View from the board

How climate is changing the world’s boardrooms

75% of board members say climate change is very or entirely important to the strategic success of their companies - report

SpecialReport_GRC_banner

Special report: GRC

Why risk leaders must offer their boards next-level risk intelligence on governance, risk and compliance

SR_web_Shruthi Rao

Should insurers lead the climate march?

If the politicians won’t go to battle against climate change, maybe insurers have the power to drive behavioural change

SRGlobalQ42021_781x521

StrategicRISK Q4 2021: The great reset

By Helen Yates

Risk management is not just about avoiding losses. It is about saying ‘yes’ when it counts

lightbulb, new thinking

A fresh take on risk

Is risk management strategically fit for purpose when it is too reactive and compliance-focused? asks Adrian Clements

SR_web_ Charles Hecker Claudine Fry

The great geopolitical repositioning

In 2022, the world will start to spin differently thanks to a new global geopolitical order

pollution_Getty

Firms failing to address environmental risk

Environmental issues are bottom of business leaders’ concerns and set to fall further in 2022, finds Beazley

green, net zero, climate change

Insurers’ sustainability focus a “clarion call”, says BlackRock

Nearly half of respondents have turned down an investment opportunity over the past 12 months due to ESG concerns - BlackRock

SR_web_Ann Dowdeswell

The cost of a sustainable supply chain

How sustainability initiatives within the full lifecycle of goods and services benefits the bottom line and enhances reputations

Mining minerals hands child labour

Beware ESG threats in your supply chain

By Helen Yates

New laws will require corporates to monitor their supply chains for human rights and environmental abuses

SR_web_Ross Savage

Don’t fall foul of sanctions

Get on top of your sanctions risk compliance or suffer reputational consequences

Mary Shapiro

COP26: International Sustainability Standards Board launches

Move represents a “major step forward in establishing consistent, comparable global reporting standards” - TCFD

SR_web_Gillian Karran-Cumberlege

Why boards must exercise their ‘judgement muscle’

Boards risk being hamstrung by regulation, opting to comply rather than explain, even where there are unintended consequences

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FERMA Talks: Channelling strategic foresight

Horizon scanning is an essential tool for policymakers, explained European Commission vice president Maroš Šefčovič

Mergers

Insurer M&A dips in 1H 2021 - Clyde & Co

The sharp drop in M&A activity in Asia Pacific can be attributed in part to the high regulatory bar in some jurisdictions

SR_web_Carly Ramsey

Navigating the ongoing trade war

China: politics are important but it’s the regulations that matter for multinationals

AON headquarters

Aon and WTW call of mega merger

Brokers terminate $30 billion merger agreement following “an impasse” with the US Department of Justice

cyber insurance, data

Cyber tops financial services risk register

Cyber attacks, pandemics and over regulation are among the biggest fears for CEOs at banks and insurers - PwC

regulation, compliance, plans

COVID-19 forced firms to ‘cut corners’

Under mounting pressure to increase revenue and profits, 65% of organisations admitted taking due diligence shortcuts

closed, coronavirus

Half of businesses ‘feel more resilient’ than a year ago

Sector attitudes to risk vary, finds Beazley, with those hardest hit by lockdown restrictions feeling less resilient

indonesia

Indonesia Asia’s most complex country for business

Hong Kong is the second most simple jurisdiction in which to conduct business, finds TMF Group

climate change opportunity

BoE launches climate stress test for banks, insurers

It will provide central banks and supervisors globally with a common starting point for analysing climate risks under different scenarios

SR_web_Pekka Dare

Managing money laundering risk in a COVID world

How money launderers are exploiting know your customer (KYC) checks and using the pandemic as a ruse to move money

risk planning strategy

Firms failing to anticipate emerging risks

Effective risk resilience is increasingly correlated to a firm’s viability and growth potential, finds Marsh

Norman Marks

The spy who managed success

Is it time to abandon risk management and seek to manage performance instead? Let’s consider Bond’s latest mission

cloud

Cyber tops risk concerns for financial firms

Analysis of $1 billion of insurance industry claims show cyber incidents, including crime, is the top cause of loss - AGCS

desert-drought-dehydrated-clay-soil-60013

Physical climate risk to test limits of diversification - Fitch

Companies with strong internal coordination and contingency planning will be better placed to respond to climate shocks

green, net zero, climate change

WTW launches climate transition risk framework

New tool will assess companies’ transition plans to a low-carbon economy and ensure firms can continue to access insurance

ship cargo

COVID-19 continues to test supply chains

Pandemic is exacerbating trends such as cargo crime, man-made disruptions, and political protests, which all threaten supply chain resilience in 2021

climate change

Financial sector grossly underreporting climate exposure

Just a quarter are reporting portfolio emissions, which are on average 700 times higher than direct emissions

SR_web_Charles Minutella

The road to future-proofing your supply chain

As companies look to pivot from the pandemic, their focus of attention is turning towards building sustainability in supply chains

Vietnam flood

Asian corporates gain climate risk tool

Swiss Re CorSo risk framework helps firms assess physical climate exposure; Many climate ‘hotspots’ are located in Asia Pacific

climate change

COVID-19 a “foretaste” of climate shocks

Effective governance is at the heart of addressing climate risk and transitioning to a low carbon economy

SR_web_Atul Vashistha

Financial firms face a risk reckoning

As the sector faces further regulatory intervention, what will it take to bring about real change?

Climate change suspended world

Climate change analytics tool launched

Data suite from JBA will help global financial services firms plan for their future and understand possible flood risk under different climate scenarios

Jacinda Ardern

New Zealand introduces climate risk disclosure regime

New rules will require firms to disclose how climate change will affect their business on a ‘comply or explain’ basis

Marine_Getty

Due diligence the key for third-party risks

Research from Refinitiv reveals 43% of third-party relationships are not subject to any form of due diligence checks

SR_web_ Mark Convery

Health & safety post COVID

Health and safety regulations are under the microscope more than ever before, but significant global differences in approach remain

Ethics

Corruption to increase post-COVID

Disruption to traditional working patterns and an increase in remote working is the top risk to the ethical conduct - EY

SR_web_specialreports_Supply chains

Special report: Supply chains

Supply chains may be complex and suppliers remote, but you must know their ESG strategies well.

cyber security

Singapore government says raise cyber security now

Cyber Security Agency (CSA) to advise owners of critical information infrastructure (CII) on what they can do to further beef up their defence.