Industry needs to do more to respond to new and emerging risks like cyber-MAS

Asia is facing a rapidly-changing risk landscape, but insufficient capacity is being deployed to meet the region's needs as it continues to remain severely underinsured, according to the Monetary Authority of Singapore (MAS). Speaking at the 13th Singapore International Reinsurance Conference, Ms Jacqueline Loh, Deputy Managing Director of the MAS, said, “I would like to challenge the industry to raise insurance penetration of traditional risks and find innovative ways to cast the net wider to cover more insureds, and develop innovative and meaningful risk transfer products for new and emerging risks.”