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Eco/Invest/Demography

Insolvencies, Cyber Threats and ESG scrutiny drive 2021 risks for Directors and Officers: Allianz

“Many insurers are still digesting the effect of previous pricing inadequacy and exposure and loss trend increases from prior-year policies,” says Shanil Williams, Global Head of Financial Lines at AGCS.
“This is also at a time of great uncertainty around forward-looking exposure assessments, in particular the impact of Covid-19 on the economy in general and on specific industries. Combined with many ‘known unknowns’ like climate change, cyber risks or environmental, social or governance (ESG) factors, this has created a lot of nervousness in this sector. As a global D&O insurer, AGCS remains committed to working in partnership with our customers to ensure we have sustainable solutions for all parties involved,” said Williams.

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India announces new controls on sourcing telecoms gear

New Delhi will announce a list of trusted sources and products for Indian telecoms providers – and possibly a blacklist – as part of the new directive, which will likely be launched next year.

“This is a very important decision with respect to national security,” Prasad said.

Telecoms providers will have to use new devices which have been approved as trusted products, he said, though he added that the policy does not require wireless carriers to replace gear already being used.

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Govt making all efforts for COVID-19 vaccine; cold chain logistics needs to be strengthened

There are six vaccine candidates in various stages of clinical trials, out of which four are developed indigenously, Department of Biotechnology Scientist and Adviser Asha Sharma said.
In order to strengthen the ecosystem, 11 good clinical practices compliant clinical trial sights have also been established across the country, Sharma said. The government is making purposeful and integrated efforts to support and promote vaccine development for COVID-19, she added.

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COVID has exposed inequalities in short time; human should work with not against nature: UNDP report

”Nothing short of a great transformation – in how we live, work and cooperate – is needed to change the path we are on.” Citing events such as climate crisis, biodiversity collapse, ocean acidification, the UNDP said the list is long and growing longer. ”So much so that many scientists believe that for the first time, instead of the planet shaping humans, humans are knowingly shaping the planet. This is the Anthropocene – the Age of Humans – a new geologic epoch.

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India ranks 131 in UN’s human development index

Life expectancy of Indians at birth in 2019 was 69.7 years while Bangladesh has a life expectancy of 72.6 years and Pakistan 67.3 years, the 2020 Human Development Report said. India, Bhutan (129), Bangladesh (133), Nepal (142), and Pakistan (154) were ranked among countries with medium human development, the report said. India’s HDI value for 2019 is 0.645 which put it in the medium human development category. India has been positioned at 131 out of 189 countries and territories, according to the report. India had ranked 130 in 2018 in the index.

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Companies may face 2% fine for breaching EU cybersecurity rules

Concerns about the cybersecurity of key assets have mounted in recent months, especially over cyber attacks by state actors and other malicious players. U.S. federal agencies and thousands of companies are now investigating a sweeping hacking campaign that officials suspect was directed by the Russian government. The European Medical Agency was also targeted earlier this month.

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Sold 1 lakh ”connected cars” in India, says Kia Motors

One out of two Kia cars sold in India is a connected car, which is equipped with the company”s UVO connect system, an advanced and dynamic solution that seamlessly integrates smartphone or smartwatch with the car and its infotainment system into a single unit, Kia Motors India said in a statement.

Commenting on the feat, Kia Motors India Managing Director and CEO Kookhyun Shim said,”Technology has always been at the focal point since our maiden launch in the country and we are elated to achieve one more milestone in car connectivity.”

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EPFO settles 52 lakh Covid-19 claims, disburses Rs 13,300 cr: Gangwar

On the implementation of labour codes, he asked the industry representatives to provide their feedback on the draft rules of three labour codes on industrial relations, social security and occupational health safety & working conditions.

The ministry has circulated the draft rules on these labour codes to seek feedback of stakeholders. These three codes were passed in monsoon session of Parliament this year.

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Vaccinating the world means solving patent impasse; India has suggestion

The International Federation of Pharmaceutical Manufacturers and Associations argues that suspending patents is fraught with danger. If you waive patents this time round, you risk harming the whole medical infrastructure that allowed Covid vaccines to be developed in record time, said Director General Thomas Cueni.

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