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Inflation worries continue for US Fed; No policy rate cut for seventh time
Jerome Powell, US Fed Chair "We are maintaining our restrictive...
Multibillion-euro court battle over stranded Russian jets begins in Dublin
Lessors are suing dozens of insurers around the world over losses...
Human catastrophe unfolding in India, Nepal a warning; S Asia must bolster health system: Amnesty
“Governments across South Asia must immediately address healthcare shortages and urgently strengthen their healthcare systems to respond to the rapid surge of COVID-19 cases in the region. Extremely low vaccination rates across South Asia have also left the region highly vulnerable, with pressing action needed at the global level to ensure more equitable access to vaccines,” a statement from the Amnesty said.
It also said that South Asia, home to a quarter of the world”s population, is fast becoming the new global epicentre of the COVID-19 pandemic.
When will COVID-19 vaccines be widely available globally?
“The U.S., European and other wealthy nations long ago pre-ordered nearly all the doses available and now other countries, even with the money to buy, are at the back of line waiting,” said Matthew Kavanagh, a global health policy expert at Georgetown University.
Remote work leads to massive surge in hacking globally: Report
Among Financial and insurance industries, 83 per cent of data compromised in breaches was personal data, while in Professional, Scientific and Technical services industries only 49 per cent was personal.
“As the number of companies switching business-critical functions to the cloud increases, the potential threat to their operations may become more pronounced, as malicious actors look to exploit human vulnerabilities and leverage an increased dependency on digital infrastructures” said Tami Erwin, CEO, Verizon Business, in a statement. .
Colonial Pipeline has cyber insurance policy, paid hackers nearly $5 Million in ransom
The cover was for at least $15 million.
Cyber insurance typically covers ransom payments and insurers often provide staff to negotiate with the hackers, in addition to IT and public relations services.
Swiss Re CEO Christian Mumenthaler argues that the private insurance market is simply not large enough to offer full cyber protection to vulnerable organisations, due to the systemic nature of cyber risk.
He observed that the cyber insurance market is currently worth around $5.5 billion in premium, compared to “gigantic” yearly losses that extend into the hundreds of billions of dollars.
Gig-economy riders in Spain must become staff within 90 days under new rule
The decree, which was agreed on with trade unions and business associations, aims to clarify the legal situation of thousands of riders after Spain’s Supreme Court ruled last year that companies must hire them as employees.
A debate on how to regulate workers’ rights in the gig economy is unfolding globally. The European Commission has opened a public consultation period on potential EU-wide rules.
U.K. cyber spies took down 15-times more scams in Pandemic
The COVID-19 pandemic led to a surge in malicious hacking and phishing attempts globally as fraudsters took advantage of more people working from home, which led to weaknesses in corporate security and fears about the virus that led people to click on links purporting to have information about the disease.
Apple stopped over $1.5B in potentially fraudulent transactions in 2020
Apple said it relies on a sophisticated system that combines machine learning, artificial intelligence, and human review by expert teams to moderate these ratings and reviews to help ensure accuracy and maintain trust.
Since 2020, Apple has processed over 1 billion ratings and over 100 million reviews, and over 250 million ratings and reviews were removed for not meeting moderation standards.
Pandemic could have been prevented: Expert panel on WHO’s handling of Covid
The WHO should have declared the new coronavirus outbreak in China an international emergency earlier than Jan. 30, 2020, but the next month was “lost” as countries failed to take strong measures to halt spread of the respiratory pathogen, it said.
Arthur J. Gallagher & Co to acquire Willis Re and WTW’s corporate risk, broking, health and benefits services for $3.57 billion
Gallagher has agreed to purchase a group of businesses from Willis Towers Watson that includes:
Willis Re operations globally, excluding operations in mainland China and Hong Kong;
Global cedent facultative reinsurance, excluding operations in mainland China and Hong Kong;
Corporate Risk and Broking business unit known as Inspace globally and certain business undertaken for Aerospace Manufacturing clients;
India may overtake China as most populous country sooner than UN projections of 2027: Report
India is expected to add nearly 273 million people to its population between now and 2050, a UN report said in 2019, forecasting that the country will cross China as the world’s most populous country by 2027.