In the News

The fluid developments around the COVID-19 outbreak are a stark reminder of the evolving threats confronting businesses. Global pandemics, along with increasingly unpredictable and intense weather events coupled with sophisticated cyber attacks, are becoming the new normal of business disruption. Businesses may think they are prepared – but are they? FM Global's Tan Hian Hong explains the importance of having good business continuity planning.

Ensuring the resilience of the built environment, including infrastructure and building stock, is directly linked to the future prosperity of Southeast Asia’s businesses. In this article, Tan Hian Hong, vice president, client service manager for FM Global Asia Operations discusses how strengthening building codes could be the key to business resilience in the region.

The sophistication of cyberattacks is growing exponentially and so too should defences. Pankaj Thareja, Cyber Consultant, Asia Pacific at FM Global, talks about the cyber vulnerabilities across the mining sector, and how businesses should prepare against potential threats.

New gas turbine technology is on the rise and potential failures will impact the bottom line of OEMs, customers and insurers alike. In this article, Terence Lee, Senior Account Engineer at FM Global Australia, talks about finding a sustainable way to get this right and FM Global’s approach to risk evaluation.

FM Global has received an A+ (Superior) financial strength rating affirmation from AM Best. The rating agency also gave FM Global a “stable” outlook. This “reflects FM Global’s balance sheet strength, which AM Best categorises as strongest, as well as its strong operating performance, favourable business profile and appropriate enterprise risk management,” AM Best said.

As part of its continued commitment to cyber risk assessment, prevention, and control, commercial property insurer FM Global will be evaluating industrial control systems (ICS) at client locations during its routine engineering site visits. The ICS evaluation will be incorporated into the insurer’s comprehensive review of a client’s cyber exposures not only at enterprise level but also on-site.

In this interview with Insurance Business Asia, Pankaj Thareja, cyber security consultant at FM Global, talked about the importance of cyber resilience for businesses, and how risk assessments can help them mitigate their cyber vulnerabilities.

Critical equipment failure is one of the most worrying risks for businesses, being listed as a major concern by 94% of Fortune 500-size companies, according to a survey by FM Global. In order to prevent equipment breakdown risks, companies must recognize the business value of preventative maintenance measures, according to Tan Hian Hong, vice president, client service manager, Asia, at FM Global.

The risks of critical equipment failure and a cyber-attack on industrial control systems are major concerns for 94 percent and 84 percent of Fortune 500-size companies, respectively. That’s according to a new survey of 200 business leaders with companywide responsibility for overseeing equipment operations or equipment risk, commissioned by FM Global, one of the world’s largest commercial property insurers.

In this article, Chan Kai Foo, Assistant Vice President, Senior Engineering Specialist, Asia of FM Global, discusses how Singapore parliament’s recent strengthening of a Fire Safety Code on commercial and industrial buildings is a timely reminder of the risks fires pose to businesses, and how they can build resilience by embracing a fire safety culture.