Managing major infrastructure risk

Major infrastructure projects present considerable opportunities to developers and investors, but transparency and corruption continue to threaten China’s Belt and Road Initiative, first announced by President Xi Jinping in 2013, is a global strategy designed to connect the Asian superpower with key trading partners across Asia, Africa and Europe. The major project aims to boost economic growth and integration between China and other nations. Roads, railways, bridges, tunnels, and shipping lane

StrategicRISK Asia-Pacific (Issue 22)

After a year in the job, our editor Lauren Gow reflects on the year that was 2018 and what the year ahead might have in store for Asia-Pacific risk managers. I have now been the editor of StrategicRISK for just over a year. And in that year I have taken very seriously the immense responsibility I have to deliver not only the right content to you as risk managers, but also content that challenges you to rethink, to question and to re-examine the way you look at risk in your business.

King of the road

Transurban’s troubleshooting guru Karl Davey exudes an air of calm and flexibility that helps him navigate all of the risk’s diversions. With him at the helm, we’re all a little safer. Did you know that in your lifetime you are five times more likely to die being struck by lightning than drowning in a flooded tunnel? Those seemed like terrific odds until arriving at the Cross City Tunnel offices, home to Transurban, during what can only be described as a cataclysmic winter storm.

Guide to: CYBER RISKS

The rapid migration of business and personal information into the digital stratosphere has largely taken the world by surprise. Global interconnected technology platforms have created a base not only for businesses to bound into previously untapped markets at the touch of a button, but also given criminals a new and arguably easier way to operate. The amalgamation of both has exposed the vulnerability of large companies such as Ashley Madison in the US and TalkTalk and Carphone Warehouse in the UK to costly, high-pro le cyber attacks. Experts say the challenges facing risk managers in 2016 are very different from the TJX and Heartland hacks that put data breaches on the map 10 years ago.

Stop waiting for change

Matthew Fosh has a message for the market: “Get over yourselves.” The 57 year-old chief executive officer of Lloyd’s insurer Novae is tired of the “endless chats about capital.” From his position at the helm of one of the market’s most successful insurers, Fosh says the time has come – and swiftly passed – for the market to do something to help itself out of its capital black hole. “Obviously the capital issue is interesting on one level, but what are you going to do about it? What does it mean for the market?”

Waging war in a technological age

In 2012, US businesses lost more than $1 trillion dollars worth of intellectual property owing to cyber attacks, according to the US government. Multiply that 100-fold to include other industrialised nations and the figure is astronomical. In the past few months, 15 of the largest US banks have been offline for a total of 249 hours, including Citibank, Wells Fargo, Chase and Bank of America. The latest high-profile attack on South Korea’s top financial, media and military structure highlights the issue is not only a growing concern for businesses, but is now also enveloping entire nations. Further, and worryingly, the worst may be yet to come.
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