Malaysian NGO formed to help aggrieved insurance claimants

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The bureau’s chief, Ng Kian Nam, said at a virtual press conference that the NGO was formed after they received over 30 complaints from insurance policyholders.

“They suffered unfair treatment by the insurance companies who terminated their life and medical policies at a time when they and their families needed the protection the most,” Ng was quoted as saying by the report.

He added that many complainants were unable to access crucial medical treatments because their policies were rejected for not being able to fully disclose their medical history.

According to Ng, CPRICM seeks to educate consumers about their rights

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Prudential’s Sanchit Maini receives international risk governance honour

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Sanchit Maini (pictured), chief financial and operational risk officer of Prudential Corporation Asia, has been awarded the Certificate in Risk Governance by the DCRO Institute, a global non-profit organisation.

According to a statement from the DCRO Institute, Maini is the first actuary and the first candidate from Singapore to receive the distinction.

Prior to joining Prudential, Maini was Asia head of products and actuarial with Aviva, and chief actuary and chief risk officer of Max Life Insurance. He holds the CERA designation in enterprise risk management and is a Fellow of the Institute of Actuaries of Australia, India, and Singapore.

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What’s behind the increase in cyber cartels?

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The report predicts that, in 2021, cyber criminal cartels behind ransomware campaigns will be responsible for the majority of attritional losses in the insurance market, and possibly even aggregation events due to cyberattacks.

“Ransomware is now right at the top of the agenda for cyber insurers, reinsurers and brokers,” said report co-author Darren Thompson, head of cybersecurity strategy for CyberCube. “This is because cyber criminals are continuing to adjust and improve their ransomware approaches in response to increasingly sophisticated cyber defense – and to reap as much reward as possible. What we’re seeing now is the rise of cyber cartels

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Top tips for securing SoftPOS payments

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Digital payments have sky-rocketed in popularity as consumers have sought new, more hygienic ways to pay. SoftPOS payments offer numerous benefits to consumers and merchants alike.

Top tips for securing SoftPOS payments

Comprised of software solutions that run on Android Commercial Off-The-Shelf (COTS) devices, they can enable digital payment acceptance in a cost-effective and simple way.

However, SoftPOS solutions must live up to the seamless, consistent and trusted experience provided by traditional payment terminals – writes Christian Damour, Pre-sales Manager – Security at Fime.

Security and confidence are part of this and fundamental to the ongoing adoption and success

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