International News

Microsoft gears up for another digital revolution with quantum computing,

Climate Change, Economy, Health, Technology       Nov 04, 2018

   Seattle:  For Microsoft CEO Satya Nadella, quantum computing is among three technologies -- the other two being Artificial Intelligence (AI) and Mixed Reality -- that will soon disrupt the status quo, impacting our lives, communities and economies.   Believed to be a lot faster and more...

Private messages of 120 mn Facebook users hacked, says BBC report

Risk Management, Technology       Nov 03, 2018

  London: Hackers have gained access to private messages of nearly 120 million Facebook accounts and already published such messages from 81,000 accounts for generating money, the BBC reported.   Several users whose details have been compromised were based in Ukraine and Russia but some were also...

Insurance crunch for upcoming Soyuz rocket launches ironed out, Roscosmos CEO says

Non Life-News, Reinsurance       Nov 01, 2018

  MOSCOW:  The launch of Soyuz-2.1b carrier rocket with the Glonass space vehicle planned for November 3, has been insured, Head of Russia’s State Space Corporation Roscosmos Dmitry Rogozin said in an interview with TASS. The launch of the cargo spacecraft Progress MS-10 on November 16...

Microsoft tests show 91% new PCs from India loaded with pirated software

Risk Management, Technology       Nov 02, 2018

  Singapore: Over 90 percent of new personal computers purchased by Microsoft from India have a high-level of pirated software, according to an analysis by the software-giant.   Nine Asian countries, including India, have a high-level of pirated software loaded on personal computers.   Microsoft purchased the personal...

Indonesia's Lion Air plane crashes near Jakarta, 188 on board feared dead

Non Life-News, Reinsurance       Oct 29, 2018

  Jakarta:  A Lion Air flight with 188 people on board crashed into the sea just minutes after taking off from Indonesia's capital on Monday.   Indonesia's disaster agency posted photos online of a crushed smartphone, books, bags and parts of the aircraft fuselage that had been...

ILS as an established asset class continues its momentum:Willis Survey

Non Life-News, Reinsurance       Oct 22, 2018

  London:  End investors, ILS funds, and buyers – the three groups active in ILS – have predominantly weathered 2017 loss activity with a view that reinsurance products backed by ‘alternative’ capital have become mainstream,according to a new Global ILS Market Survey by Willis Towers Watson...

Allianz Insurance Product Protects Firms Against Clean Energy Price Swings

Non Life-News       Oct 23, 2018

  Microsoft Corp. has helped develop a way to protect corporate buyers of clean power from electricity prices that go up and down with the weather.   The company is using a risk-management tool called a volume-firming agreement for almost 500 megawatts of wind projects, according to...

AIR Worldwide Develops Probabilistic Model for Global Cyber Risks

Non Life-News, Risk Management       Oct 25, 2018

  Catastrophe risk modeling firm AIR Worldwide announced it has developed a probabilistic model for cyber risk, which is capable of accounting for security breach and cloud service provider downtime incidents for insurance portfolios worldwide.   AIR’s probabilistic cyber model estimates the likelihood, severity, and economic and...

Shareholders of Singapore Reinsurer ACR Capital Eyeing Sale: Sources

Reinsurance       Oct 26, 2018

  ACR Capital Holdings Pte shareholders are considering reviving a sale of the Singapore reinsurer, less than a year after a deal with Chinese buyers fell apart, people familiar with the matter said.   The company’s owners, which include Temasek Holdings Pte and Khazanah Nasional Bhd., have...