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Covid-19 Risks: Cyber-attacks and Data loss top concerns facing Directors & Officers: Report

Jennifer Tiang, Regional Cyber Leader for Asia at Willis Towers Watson, said: “The survey results reflect the growing realisation that cyber risk is not simply an issue to be handled by an organisation’s IT team.  It is a much broader issue cutting across all spheres of business and necessarily draws together stakeholders from risk, legal and IT teams, as well as requiring awareness of all employees from the ground up and board oversight from the top down. From cyber-attack to data loss, the financial impacts of a cyber event can be catastrophic.”

Crowd ban in Olympics could cost reinsurers up to $400m: Fitch

“We estimate the total insurance cover for the Olympics to be about USD2.5 billion, comprising USD1.4 billion taken out by the International Olympic Committee and the Tokyo Organising Committee, USD800 million by broadcasters and USD300 million by other parties, such as sports teams, sponsors and hospitality. We believe reinsurers would bear most of the losses arising from this cover given that high-severity exposures are typically heavily reinsured,” said Fitch

‘Tremendously off track’ to meet 2030 SDGs: UN chief

Despite a 300 per cent increase in global food production since the mid-1960s, according to the Secretary-General, “malnutrition is a leading factor contributing to reduced life expectancy”.

He cited climate change as both “a driver and a consequence of hunger”, adding that “our war with nature” includes a food system that generates one-third of all greenhouse gas emissions and is also responsible for up to 80 per cent of biodiversity loss.

China tightens control over cybersecurity in data crackdown

Beijing is increasingly sensitive about control over information about its people and economy. Companies are barred from storing data about Chinese customers outside China. Companies including ride-hailing service Didi Global Inc, which recently made its US stock market debut, have been publicly warned to tighten data security.

Under the new rules, anyone in China who finds a vulnerability must tell the government, which will decide what repairs to make. No information can be given to “overseas organisations or individuals” other than the product’s manufacturer.

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