As the UK Government develops a new governance system on environmental issues, businesses need to consider how their processes may need to change to ensure that they remain compliant and to avoid potential fines.
China’s banking and insurance regulator CBIRC revised its “Rules on Internet Insurance Business” to address issues in the marketplace amid a sharp surge in companies seeking to join the online insurance sector.
In an age where information can travel instantly around the globe it is increasingly challenging to protect a company’s reputation, particularly in the case of consumer focused brands.
The UK’s Ministry of Justice has released a pre-action protocol for the forthcoming Whiplash reforms setting out some of the initial detail as to how the new procedures will be applied by insurers and practitioners.
Data is a hugely valuable resource for any business, particularly since the pandemic has accelerated the digitalisation of the economy and reduced personal interaction. Whilst the smart use of data can offer great growth opportunities for businesses it needs to happen in a controlled manner to avoid lawsuits, regulatory fines and reputational damage.
The disruption caused by the Covid-19 pandemic has accelerated digitisation in the real estate sector while exposing weak spots in portfolios that need to be addressed to make the sector more resilient ahead of potential future crises.
As cyber claims costs are on the rise, policyholders need to enhance security measures and protocols to protect their systems and data in order to secure appropriate insurance protection at renewal.