A recent study published by global consulting firm Grant Thornton estimated that in 2015, cyber-attacks have represented a loss of USD 81 billion for businesses in Asia Pacific. Majority of the loss was experienced by China itself, which was as much losses experienced by businesses in Europe and United States. Financial hubs like Singapore and.. read more →

An exciting time awaits the insurance market in Myanmar with the recent opening of its economy. The government has given 12 licenses (out of 20 expected for the market) to local companies in September 2013, ending the monopoly enjoyed by government-owned Myanma Insurance Enterprise, which was established since nationalization in 1963. The main local groups.. read more →

In a move to prevent overcharging, Parkway Pantai, private healthcare group, has published a price list of 30 common procedures in its hospitals in Singapore. Price list can be found in respective hospitals’ site. Gleneagles Hospital  Mount Elizabeth Hospital (Orchard)  Mount Elizabeth Novena Hospital  Parkway East Hospital  read more →

03 Oct 2013
October 3, 2013

Flood Risks in Asia

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Photo by Apichart Weerawong/AP

Having in place an insurance against flood risks in Asia is not always on top of the mind of businesses. However, images of damaged cars at manufacturer’s plants due to the flood in Thailand in 2012 are still fresh in risk managers’ eyes. The loss for the insurance industry was estimated around US$20 billion for.. read more →

Photo by Robin Des Bois

MOL Comfort broke into two pieces on 17 June 2013 due to unclear reasons when sailing from Singapore to Saudi Arabia. The aft part of the vessel drifted for 10 days before sinking off the Indian Ocean with 1,700 containers and 1,500 tons of fuel. As for the fore part, it was towed by a.. read more →

The new Chinese Social Insurance Laws (‘SIL’) has been enacted since October 28, 2010, but it only came into effect on July 1st, 2011. Even then, the law is subjected to local decision from one city to another. As of June 2013, only Beijing, Suzhou, Shenzhen and Guangdong have implemented the law. And it is.. read more →