MSIG Singapore partners newly launched Cybersecurity Association to strengthen cyber protection for SMEs
31 Jul 2026
MSIG Singapore, a leading general insurer, has partnered with the newly launched Cybersecurity Association Singapore Limited (“CASL”), a non-profit organisation, to strengthen cybersecurity resilience among small and medium-sized enterprises (SMEs) in Singapore.
MSIG Singapore will support the CASL by delivering an integrated cyber insurance solution that complements the broader suite of cyber protection services offered through CASL’s network of strategic partners. Unlike traditional standalone cyber insurance policies, the CASL program is designed to work in tandem with preventive, monitoring and incident response capabilities, enabling SMEs to better manage risks and recover more effectively from cyber incidents.
“As cyber threats continue to evolve, insurance alone is not enough. Our collaboration with CASL as a Strategic Alliance Member reflects MSIG’s commitment to supporting SMEs through a more holistic approach combining risk prevention, protection and recovery. By embedding insurance within a broader cybersecurity ecosystem, we support businesses in strengthening their cyber resilience and recovery capabilities,” said Mack Eng, CEO of MSIG Singapore.
CASL was established following the findings of an MPA (Maritime and Port Authority of Singapore)-supported Cybersecurity Working Group chaired by Kevin Yong. The cross-industry group brought together maritime stakeholders, insurers, reinsurers, P&I clubs and industry associations to assess the financial impact of cyber incidents. Its findings, particularly the cybersecurity challenges faced by SMEs, highlighted the need for accessible cybersecurity solutions, leading to the formation of CASL.
“Smaller organisations are often the most vulnerable due to limited resources and access to expertise. CASL brings together best-in-class cybersecurity capabilities for the SMEs in a single sign-up. They will receive cyber protection tools, training, 24/7 technical and legal advisory to uplift their cybersecurity while being protected by MSIG to recover and remediate. In today’s world of rampant AI-enabled cyberattacks, this is an existential protection,” said Kevin Yong, President of CASL.
A Singapore-based deep technology start-up, Speedcargo, also shared why having access to an integrated ecosystem that combines cybersecurity services with insurance can help them grow their business while improving their cybersecurity.
“Our global clients require that we put in place strong cybersecurity measures and insurance to protect our business and interests. Subscribing to MSIG’s cyber insurance offering through CASL is a very cost-effective and simple way of achieving that,” said the company spokesperson.
Through its ecosystem approach, CASL will work with industry stakeholders to deliver integrated and holistic cyber risk solutions from support in cybersecurity governance, risk assessment, threat monitoring, incident response and recovery. Within this ecosystem, MSIG Singapore will strengthen the offering to SMEs with a streamlined cyber insurance solution, reinforcing its commitment to delivering accessible, end-to-end protection for SMEs in an increasingly complex cyber landscape.
Left to Right: Kevin Yong, President, CASL and Mack Eng, Chief Executive Officer, MSIG Singapore
Annex
MSIG Cyber Insurance Plan provides protection against both first and third-party cyber liabilities, with premiums starting from $80 per year.
Key Coverage:
- Breach Response & Recovery
- Costs incurred in responding to a cyber incident or data breach
- Access to MSIG's strategic alliance partners for incident support
- Cyber Extortion
- Expenses associated with responding to cyber extortion events, including ransomware attacks
- Network & Information Security Liability
- Liability arising from data breaches or security failures
- Includes defence costs for related civil claims
- Regulatory Defence & Penalties
- Coverage for regulatory investigations, defence costs and applicable penalties
- Hardware Replacement & Bricking
Replacement costs for hardware damaged or rendered inoperable due to a cyber incident
About MSIG Insurance (“MSIG Singapore”)
A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor's.
MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer-centric solutions. The company was most recently named ‘Direct Insurer of the Year for Singapore’ by Insurance Asia Awards and ‘Best General Insurer for Singapore’ by InsuranceAsia News. It also received industry accolades such as 'Digital Insurer of the Year', ‘Personal Lines Insurer of the Year’ and ‘Underwriting Excellence’.
MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group – one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non-life insurance groups in the world based on gross revenue.
About Cybersecurity Association (“CASL”)
CASL was established to help companies with limited resources to implement and maintain end-to-end cybersecurity capabilities. Through a network of Strategic Alliance Members, the association brings together world-class providers across key areas including cyber training, threat monitoring, incident response, legal advisory, forensic investigation and cyber insurance.
Media Contact:
Carole Chow
AVP, Brand & Communications
MSIG Insurance (Singapore) Pte. Ltd.
D: +65 6012 1258
