The Institute of Risk Management has announced the formation of a Malaysian subsidiary, IRM Asia Sdn Bhd. Based in KL, the new subsidiary will act as a regional hub for lifelong learning, professional development, networking and thought leadership.

Initial ransom demands rose 47% in 2025, yet 86% of businesses did not pay, according to data from Coalition. Ransomware was the costliest type of claim, with an average loss of £202,000, while business email compromise and funds transfer fraud accounted for 58% of cyber incidents. Among FTF claims, 52% originated from BEC.

The London Market is continuing to provide cover for insureds affected by the ongoing Middle East conflict. In a statement, Chris Jones, chief executive of the International Underwriting Association, said insurance arrangements across the region had long reflected heightened geopolitical tensions but that coverage remains available across several lines of business.

“The situation has escalated with a significant widening of the conflict, including multiple locations well beyond just the Middle East. The current phase of the conflict is expected to be much more focused on tertiary targets, namely factories, production sites and supply chains"

Marsh Risk and Apollo have created a new insurance facility to support the rollout of Uber autonomous vehicles globally. The bespoke Autonomous Vehicle Insurance Program, underwritten by Apollo’s Ibott division, provides Uber with dedicated capacity to provide AV partners with comprehensive primary and excess liability coverage at preferred rates, reflecting their unique safety performance. The solution wraps coverage for all key participants into a single master policy.

Scotland’s busiest railway station, Glasgow Central, has been closed and rail services severely disrupted after a major fire broke out on Sunday in a building on Union Street.