Risk Management

Drone attacks strike major Saudi Aramco facility, oilfield

International News       Sep 14, 2019

  Dubai: Drone attacks targeted a major Saudi Aramco processing facility and oilfield in eastern Saudi Arabia Saturday, the Interior Ministry said, sparking a huge fire at one of the sites before dawn. No one immediately claimed responsibility for the attack, which comes amid previous drone...

Climate change tops list of world’s ‘extreme risks’

Facts       Sep 09, 2019

  LONDON: The Thinking Ahead Institute’s (TAI) Extreme risks 2019 report and ranking, which categorises rare events that could have a high impact on global economic growth and asset returns, has a new top three: global temperature change, global trade collapse and cyber warfare.   The Thinking...

Google to pay $170 million fine for sharing YouTube kids data

International News       Sep 04, 2019

  Google agreed to pay a $170 million fine to settle charges that it illegally collected and shared data from children on its YouTube video service without consent of parents, US officials announced on September 4. The settlement with the Federal Trade Commission and the New...

Willis Towers Watson launches innovative risk advisory service 

International News       Sep 03, 2019

  SINGAPORE: Willis Towers Watson has launched a new advisory capability to help chief financial officers and risk managers reduce volatility and minimise their total cost of risk.     Connected Risk Intelligence, available for large corporate clients with complex risk portfolios, is a single source for financial...

Global reinsurance market to see consolidation, product & service innovation:S&P

International News       Sep 03, 2019

  New York: S&P Global Ratings has kept its stable outlook on the global reinsurance sector and on the majority of the reinsurers it rates.   This assessment is mostly based on reinsurers' still-robust capital adequacy and relatively disciplined underwriting, at least so far, supported by well-developed...

Fintech panel suggest legal framework to protect digital services consumers

Indian News       Sep 02, 2019

New Delhi: An inter-ministerial panel on fintech on Monday submitted its report to Finance Minister Nirmala Sitharaman suggesting a comprehensive legal framework to protect consumers of digital services.   The Steering Committee headed by the Economic Affairs Secretary also recommended adoption of regulation technology (or RegTech)...

Silent-cyber claims expectations decline across insurance lines and industry groups:Willis Re

International News       Aug 29, 2019

  ASIA PACIFIC:  The global insurance sector is considerably less concerned about silent cyber exposures than it was in 2018. The finding applies to all commercial lines of business and industry groups, according to 2019 Silent Cyber Risk Outlook, the annual global survey by Willis Re,...

Amazon sued by publishers claiming audible text service violates copyright

International News       Aug 26, 2019

  Amazon.com Inc.’s Audible was sued by some of the top U.S. publishers for copyright infringement on Friday, aiming to block a planned rollout of a feature called ‘Audible Captions’ that shows the text on screen as a book is narrated.   The lawsuit was filed by...

China tops list of U.S. cybersecurity agency’s top risks

International News       Aug 23, 2019

A newly created U.S. cybersecurity agency said Thursday that China represents the greatest strategic risk to the U.S., and as a result, the agency’s top operational priority is reducing the risks from Chinese compromises to the global supply chain, including emerging 5G technology.   The statement...

Early claims and crash tests suggest risks of luxury, SUV electric vehicles

International News       Aug 23, 2019

Electric luxury cars and sport utility vehicles (SUVs) may be 40% more likely to cause accidents than their standard engine counterparts, possibly because drivers are still getting used to their quick acceleration, French insurer AXA said.   The numbers, based on initial trends from claims data...

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