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International

Opportunities for insurers to cover cyber risks in Asia: Official

June 14, 2016 Reprints

Singapore's Deputy Prime Minister Tharman Shanmugaratnam said that there are underwriting opportunities for insurers in financing infrastructure and providing insurance for cyber attacks and natural disasters in Asia, reports Channel News Asia.

Mr. Shanmugaratnam said that the economic cost of natural disasters is increasing but that the take-up of catastrophe insurance has been "woefully low" in the region.

Mr. Shanmugaratnam pointed that the data needed for the efficient underwriting of cyber and natural disaster risks is weak.

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Opportunities for insurers to cover cyber risks in Asia: Official

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