Bibhu Krishna, Chief Information Security Officer, Policybazaar.com...
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Union Budget 2025-26: Reshaping Indian insurance landscape
Tapan Singhel, MD&CEO, Bajaj General Insurance& Chairman,...
Closing Crisis Protection Gap: Leaders call for 10 fold higher finance to meet cost of future crises
Less than $1 of every $5,000 of crisis finance goes to low income...
“Significant improvement in climate-related disclosure of Insurers”
Bronwyn Claire, Senior Programme Manager for ClimateWise said,“We’ve seen significant progress being made by members in the incorporation of climate change considerations into investment and underwriting strategies demonstrating growing strategic commitment to corporate and societal resilience to climate change.”
Rising Risk of Cyber-attack on Industrial Sector:Lloyd’s Report
Cyber-attack risks have previously been considered unlikely to materially impact the physical market, with cyber perils traditionally emerging in the form of non-physical losses. However, the report looks at how physical risks have become a rapidly growing concern for industrial businesses as shown by recent high-profile breaches. As bridges are increasingly being built between information technology (IT) and operational technology (OT), along with increases in automation and sophistication of threat actors, it is paramount that (re)insurers carefully consider where major losses may occur.
Insurers play waiting game amid push for post-Brexit Solvency II equivalence
Under Solvency II equivalence, the EU would recognize a non-EU country’s solvency regime as producing comparable outcomes to its own, meaning less regulatory scrutiny. The Solvency II directive extends equivalence in three areas: reinsurance, solvency calculation and group supervision.
More at risk of losing homes as climate change outpaces response, Fiji warns
Mami Mizutori, who leads the U.N. Office for Disaster Risk Reduction said globally, there had been a notable reduction in the loss of life caused by extreme weather events like storms and floods, as governments stepped up efforts over the past five years to evacuate millions of people to safer places. But the number of people affected by disasters remained “chronically high”, with displacement one of the harshest consequences, pushing many into crowded city slums or to other countries where they do not always get a friendly reception.
Only about 100 countries have so far put formal strategies in place to cut the risk of disasters, she said. Such plans can include things like early warning systems, stronger building codes and a ban on construction in flood-prone areas.
Cyber Insurance- a must for Enterprises
A cyber insurance cover is a must especially for corporates as it is designed to help an organization mitigate risk exposure by offsetting costs involved with recovery after a cyber-related security breach or similar event.
Currently, insurance covers are designed to protect against a number of cyber exposures that can impact businesses including direct costs to the corporates as well as claims/losses from third parties.
From factory to faraway village: behind India’s mammoth vaccination drive
Despite initial glitches, particularly with CO-WIN – a centralised digital platform to roll out and track India’s mammoth vaccination programme – officials in Koraput said the system would suffice for the first two phases.
Allianz Risk Barometer 2021: Covid-19 trio tops global and Asia Pacific business risks
“The Allianz Risk Barometer 2021 is clearly dominated by the Covid-19 trio of risks. Business interruption, pandemic and cyber are strongly interlinked, demonstrating the growing vulnerabilities of our highly globalized and connected world,” says Joachim Müller, CEO of AGCS.
“The coronavirus pandemic is a reminder that risk management and business continuity management need to further evolve in order to help businesses prepare for, and survive, extreme events. While the pandemic continues to have a firm grip on countries around the world, we also have to ready ourselves for more frequent extreme scenarios, such as a global-scale cloud outage or cyber-attack, natural disasters driven by climate change or even another disease outbreak,” he said.
Private sector should be an ally In India’s big vaccine push
The ugly truth about India is that its problems rarely revolve around production; too often they center on distribution. We produce more than enough food but can’t distribute it to our population, so we have a third of the world’s malnourished children. While we generate more than enough electricity, our distribution system is inefficient and unprofitable – and so businesses and homes are plagued by constant power cuts.
Wildlife, land-use change and health infra: Scientists identify ways of preventing next pandemic
Following several multidisciplinary studies in 2020, scientists now firmly believe a “perfect storm” for an outbreak with pandemic potential is created by the combined forces of land-use change, high population density and the presence of interfaces between wildlife and domestic animals.
Labour codes to herald new wave of reforms in 2021; job creation likely to be major challenge
during the pandemic, the central government was successful in getting Parliament’s approval for three labour codes on Industrial Relations, Social Security and Occupational Health Safety & Working Conditions (OSH) this year
The Code on Wages was approved by Parliament last year and its rules have been firmed up. But the implementation of the rules for Code on Wages was held back because the government wanted to implement all four labour codes in one go