Posts Tagged ‘Healthcare’



June 11th, 2019

Asia’s Health Care Industry Reels From Cyberattacks

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallHealth care is one of the sectors most vulnerable to cyberattacks, with more than one in four (27 percent) health care organizations reporting that they have been a victim of a cyberattack in the past 12 months. This is more than financial institutions (20 percent) and nearly twice the incidence in the communications, media and technology sector (14 percent). Despite this, respondents from the health care industry underestimate the likelihood of a cyberattack.

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June 10th, 2019

Healthcare Organizations and Medical Risk: What HCOs Need to Know About the Medical Risks They Own

Posted at 1:00 AM ET

diagnostic-risk-squareAs healthcare organizations transition their business models from “fee for service” to “fee for value,” margin pressure, capital allocation and expense management are pitfalls to a successful transition. We argue that the creation of an integrated risk strategy framework to think about medical risk collectively (the medical risk continuum) will empower healthcare organizations to manage this transition more effectively and ultimately lower healthcare claim risk costs.

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May 28th, 2019

How Will Gene Therapy Change the Health Insurance Landscape?

Posted at 1:00 AM ET

diagnostic-risk-squareGene therapy is a new kind of specialty medical treatment. A patient receives a one-time injection of DNA-filled viruses, and those viruses get to work changing the way a patient’s cells react. So far, three gene therapy treatments have been approved by the U.S. Food and Drug Administration: two are CAR T-cell immunotherapy treatments used for fighting leukemia, and one treats a hereditary blindness condition. Gene therapy is now considered an experimental treatment. If it enters the standard of care, payers may be faced with a whole new universe of high-cost claims.

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May 16th, 2019

Asia Pacific Focus – Insights from Guy Carpenter

Posted at 1:00 AM ET

Here we present a recap of recent thought leadership from Guy Carpenter focusing on important insurance and reinsurance topics in Asia Pacific.

Understanding Flood Risk in Malaysia Through Catastrophe Modeling: According to Malaysia’s Department of Irrigation and Drainage, the many rivers running through the country put about 9 percent of the total land area under flood risk, potentially affecting 2.7 million people. Rapid urbanization is only going to worsen the problem through rising population concentrations and at-risk infrastructure, land consumption and the channeling of water courses.

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Closing The Gap: Insurance Penetration and Public Sector Risk Financing in Asia Pacific: In recent years, the issue of low penetration in catastrophe insurance across the growing economies of Asia Pacific, and the critical protection gap between economic losses caused by natural disaster events and insurance-covered losses are receiving the attention they merit. The insurance industry can play a significant role in narrowing the gap to help ensure sustainable economic development in one of the most dynamic regions of the world.

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The Transformation of Australian and New Zealand Life Insurance: The life insurance industry in Australia is facing unprecedented challenges from forces within and from the effects of an increasingly globalized economy. As life industry profitability has declined in Australia in recent years, the underlying manufacturing business model is rapidly changing.

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Asia’s Health Care Industry Reels from Cyberattacks: Health care is one of the sectors most vulnerable to cyberattacks, with more than one in four (27 percent) health care organizations reporting that they have been a victim of a cyberattack in the past 12 months.

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April 24th, 2019

A Matter of Time: Why the Clock is Ticking on Stop-Loss Reinsurance

Posted at 1:00 AM ET

diagnostic-risk-squareAs cutting-edge science leads to new, high-cost drugs and therapies, insurers are seeing uncapped claims costs grow higher. Stop-loss reimbursements generally are on the rise, with an increasing number of employers being reimbursed for a stop-loss claim every year.

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April 10th, 2019

Healthcare & Cyber Risk – Takeaways

Posted at 1:00 AM ET

Here are the five key takeaways from the study Holding Healthcare to Ransom by Marsh & McLennan Companies Insights.

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April 4th, 2019

Asia’s Health Care Industry Reels from Cyberattacks

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallHealth care is one of the sectors most vulnerable to cyberattacks, with more than one in four (27 percent) health care organizations reporting that they have been a victim of a cyberattack in the past 12 months. This is more than financial institutions (20 percent) and nearly twice the incidence in the communications, media and technology sector (14 percent). Despite this, respondents from the health care industry underestimate the likelihood of a cyberattack.

Continue reading…

October 11th, 2018

Healthcare & Cyber Risk – Takeaways

Posted at 1:00 AM ET

We conclude the series on Healthcare & Cyber Risk by listing the five key takeaways from the study Holding Healthcare to Ransom by Marsh & McLennan Companies Asia Pacific Risk Center. Continue reading…

October 8th, 2018

Healthcare & Cyber Risk – Cyber Insurance to Manage Exposure

Posted at 1:00 AM ET

holding-healthcare-to-ransom-cover-image-6Key risks that healthcare organizations face today include patient data exposure, shared system data exposure and employee exposure. Recognizing that cyber risks cannot be eliminated, healthcare organizations are beginning to look to insurance or cyber risk transfer programs as a way to shift the risks, not just as a solution for balance sheet protection but also for contractual evidence and compliance. (1)

Prompted by the wave of high-profile attacks and new data protection rules, annual gross written cyber insurance premiums have grown by 34 percent per annum over the past seven years. (2) The European Union Agency for Network and Information Security has also found a positive correlation between cyber insurance takeup and the level of preparedness, (3) and healthcare organizations are only beginning to recognize this. Continue reading…