The aim of this week's United Nations negotiations is to create a...
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Bima Vistaar: IRDAI unveils premium for its mass combo cover at Rs 1500, for a family at Rs 2420
Debasish Panda, chairman,IRDAI Bima Vistaar will have a combined...
RBI plans curbs on suspect bank accounts to fight cyber frauds
The plans come as internal government data shows individuals have...
Russian economy set to lose $45 bln to cyber crime in 2020
The coronavirus pandemic has exacerbated cybersecurity concerns as more transactions are now made online rather than with cash after lockdown measures and health restrictions reduced footfall in shops across the world.
India ranks 77 in global bribery risk matrix
According to this year”s data, North Korea, Turkmenistan, South Sudan, Venezuela and Eritrea present the highest commercial bribery risk, while Denmark, Norway, Finland, Sweden and New Zealand present the lowest.
Eightfold increase in tobacco smuggling during June-Oct 20 : FICCI CASCAD
Commenting on the development, FICCI CASCADE Chairman Anil Rajput said: “There has been an almost eightfold increase over the year, indicating that India continues to be a target for tobacco smugglers in spite of several restrictions. It is clear that criminal enterprises are continuing to seek ways of ensuring infiltration of smuggled goods into the country.”
Nasdaq to buy financial fraud detection firm Verafin for $2.75 billion
“The problem of detecting money laundering and fraud hasn’t been solved very well yet,” Valerie Bannert-Thurner, senior vice president and head of sell-side and buy-side solutions, market technology at Nasdaq, said in an interview. “With our acquisition we are doubling down on our belief this as an area that is being disrupted and where we can have a big impact.”
Up to $2 trillion is laundered globally each year, representing up to 5% of global GDP, according to the United Nations.
COVID-19 caseload in India breaches 89-lakh mark
The number of active cases remained below 5 lakh for the eighth consecutive day.There are 4,46,805 active cases of coronavirus infection in the country as on date which comprises 5.01 per cent of the total caseload, the data stated.
The total recoveries have surged to 83,35,109 pushing the national recovery rate to 93.52 per cent, while the COVID-19 case fatality rate stands at 1.47 per cent.
FDA approves first COVID-19 test kit for home use
The single-use test, made by Lucira Health, has been given emergency use authorization for home use with self-collected nasal swab samples in individuals aged 14 and older who are suspected of COVID-19 by their health care provider, the FDA said.“While COVID-19 diagnostic tests have been authorized for at-home collection, this is the first that can be fully self-administered and provide results at home,” FDA Commissioner Stephen Hahn said.
Contract clarity could drive insurance growth:Morgan Stanley
“If you’re very crystal clear about what’s being excluded it creates an opportunity to then provide another product that specifically covers something that otherwise would be carved out. At least people would understand what’s in and what’s out,” Chasin said.
He acknowledged that too many exclusions also present problems, referencing cyber insurance as an area of focus in this regard.
AXA XL launches Risk Scanning
Maxime Ambourg, Risk Consulting Manager for Innovation & Business Development at AXA XL Risk Consulting, commented: “Traditional loss prevention programmes usually focus on a company’s primary locations. They can neglect the risks associated with smaller sites that are rarely visited by risk engineers, despite being where losses most often occur. By leveraging both the experience of our consultants and new technologies, Risk Scanning allows for a more exhaustive and therefore precise assessment.”
Covid-19 Pandemic to slow down top 10 largest global insurance markets in 2020
The world’s 10 largest insurance markets, in order, as defined by total premium written in 2018-2019, are: the United States, China, Japan, the United Kingdom, France, Germany, South Korea, Italy, Canada and Taiwan. The Triple-I’s projection of a 4.5% GDP decrease in the world’s 10 largest insurance markets in 2020 as compared to 2019 was weighted based on the total premium written in each one.
Canadian banks, insurers to take part in climate project, central bank says
The project’s aims include enabling authorities and firms to analyze climate scenarios and increase their understanding of potential climate-related risks, and enhance understanding of companies’ governance and risk management..