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Hong Kong Business Insurance Articles

Get all the information you need about business insurance products in Hong Kong with our in-depth articles on the comprehensive range of business insurance offerings in Asia's World City.  From the legal regulations around Employee's Compensation Insurance, through to coverage options for Professional Indemnity and D&O Products, CCW Global gives you the extensive insights you need to understand the complicated corporate risk landscape in HKSAR.

Check back regularly as we continue to update you with the business insurance content you need!

WannaCrypt Hack Makes Case For Cyber Insurance

Published on: 17 May 2017 by Michael Lamb

On Friday May 12th 2017 a Global Ransomware Attack hit more than 230,000 computers and servers in over 99 countries, according to Wired Magazine. An event that was once almost exclusively in the domain of Scifi and Speculative Fiction, including such titles as Neal Stephenson’s Reamde, has had a profound real-world impact on Government institutions and businesses across the globe.

The Trojan.Ransom.WannaCrypt Worm targeted Microsoft Windows operating systems by encrypting files on the system and demanding a bitcoin payment to release the computer back to the user. The attack was spread via Phishing Emails and vulnerabilities in unpatched (and outdated) Windows Operating systems including Windows XP.

Hong Kong Macau Zhuhai Bridge Project Hacked – A Case for Cyber Insurance

Published on: 11 May 2017 by Michael Lamb

On May 8 2017 news emerged in Hong Kong media that the Hong Kong – Macau – Zhuhai Bridge Project was the victim of a Ransomware Attack during the month of March 2017. The Hong Kong Government was formally notified of the attack on March 2 2017, but failed to disclose the event to local media, the public, or other involved stakeholders prior to the May 8thannouncement.

According to Hong Kong Free Press a network server at the Bridge Project’s site headquarters was locked down by Hackers who demanded a ransom to release the server back to the contractors. When Hong Kong police were notified of the event the Hackers deleted some files before unlocking the system for use by the Highways Department and relevant contractors.

From the Boardroom to the Internet

Published on: 1 November 2016 by Michael Lamb

At CCW Global we are extremely privileged to help businesses in a wide range of industries manage and mitigate their risks. From Office Contents, Employee Compensation, and Marine Cargo insurance, through to more complicated group benefits, Professional Indemnity, and Directors and Officers coverage, as a broker we are in a unique position to understand the concerns and risks facing companies of all sizes on a day-to-day basis.

Understanding the risks facing your business is a key first step in avoiding potential issues, and it’s important that organizations understand future liability and losses – especially at a board level. In 2016 CCW Global has been spending a great deal of 2016 thinking about evolving business risks which are present in the Hong Kong and APAC markets. From our own internal analysis and observations we have understood where our greatest exposures are, as a business, and also where the biggest potential threats we face in the future will come from.

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