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Eco/Invest/Demography

Robots running the industrial world are open to cyber attacks

Robots are often connected to networks and run via software, according to the report, and previously unknown vulnerabilities could allow hackers to hide malicious code in them and other automated, programmable manufacturing machines.

The researcher found flaws in software produced and distributed by the Swedish-Swiss multinational ABB Ltd, one among world’s largest industrial robot maker. They also found other vulnerabilities in one of industry’s most popular open-source software called “Robot Operating System Industrial”, or Ros-I, adapted for ABB and for Kuka AG, a German robot maker.

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Morgan Stanley launches Property & Casualty insurance for high net worth clients

Through this new arrangement, HUB International, Marsh Private Client Services, and Willis Towers Watson will assist Morgan Stanley clients in assessing their risk exposures and provide solutions to help them protect their assets. The insurance brokers will leverage their deep relationships with a vast array of insurance companies and their global footprint of dedicated specialists and in-house resources

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Over 56,000 COVID-19 cases in country in single day

There are 5,95,501 active cases of coronavirus infection in the country presently which contribute to 30.31 per cent of the total cases.

The fatality rate has further dropped to 2.07 per cent, the data stated.

This is the eighth consecutive day that COVID-19 cases have increased by more than 50,000.
Of the 904 fresh deaths reported, 334 are from Maharashtra, 112 from Tamil Nadu, 100 from Karnataka, 77 from Andhra Pradesh, 61 from West Bengal, 40 from Uttar Pradesh, 29 from Punjab, 23 from Gujarat, 17 from Madhya Pradesh, 13 each from Rajasthan and Telangana, 11 from Delhi and Nine each from Jammu and Kashmir and Odisha.

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Beirut devastating explosion to weigh on Lebanon’s challenged insurance sector:AM Best

Insurance penetration rates in Lebanon generally are low and property insurance represents only a small fraction of the Lebanese insurance industry, which is dominated by three segments: life, medical and motor. Based on the latest available data, together these segments accounted for almost 85% of Lebanon’s gross written premium (GWP) in 2018.

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India needs to look beyond what rating agencies think, says ex-RBI governor

“What India should focus on at this point is protecting its economic capabilities, so that when it has dealt with the virus it can go resume activity in a reasonable way. That should be the focus.And if it does that, there is no reason why the rating agencies will not see that as an appropriate policy,” Former Reserve Bank of India governor Raghuram Rajan said.

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Centre releases Rs 890 cr as 2nd tranche of package for COVID-19 health system preparedness

The second instalment of the aid will be used to strengthen public health infrastructure for testing, including procurement and installation of RT-PCR machines, RNA extraction kits, TrueNat and CB-NAAT machines, bolster infrastructure for treatment and development of ICU beds, installation of oxygen generators and procurement of bedside oxygen concentrators among others.

It would also be used for engagement, training and capacity building of necessary human resources and incentives to healthcare workforce and volunteers, including ASHA workers on COVID-19 duties, the health ministry said

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 Life insurers can obtain customer’s consent without requiring wet signature in pure risk products till Dec 31:IRDAI

The prospect, if he / she wishes to consent to the proposal, may do so by clicking the confirmation link or by validating the OTP shared. The insurer has to  maintain verifiable, legally valid evidence for the proposer’s consent received for the fully completed proposal form. Further, the insurer can’t  accept any payment of moneys towards proposal deposit till the receipt of consent of the proposer.

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Obama’s Medicaid expansion keeps gaining ground under Trump

Medicaid expansion is a central feature of former President Barack Obama’s Affordable Care Act, covering about 12 million people, while nearly 10 million others get subsidised private insurance.
If present trends continue, it’s only a matter of time until all states expand Medicaid, acknowledged Brian Blase, a former health care adviser in the Trump White House, who remains opposed to the expansion.
Medicaid expansion is terrible policy, but it is attractive to states because it’s almost all federal spending and the insurance companies and hospitals get lots of dollars when a state expands Medicaid, he said.
The federal government pays 90 per cent of the cost of covering people through the expansion, a much higher matching share than for low-income disabled and elderly people traditionally covered by Medicaid. Blase argues that’s an incentive to waste federal dollars.

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