SMEs must protect against emerging risks

Malaysian SMEs tend to overlook the need to insure against catastrophic risks as the country has largely escaped being badly hit by natural disasters, says Chou.

Cyber-crime, product liability, climate change and political instability are among the new risks that SMEs need to address, quite apart from traditional protections like fire, theft and health insurance. HO WAH FOON reports.

SMALL and medium enterprises (SMEs), especially export-oriented ones, must brace themselves to face more emerging risks amid rising sophistication in information technology, change in geo-politics and economic dynamics, as well as climate change.