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Brazil subsidised rural insurance for Amazon deforested land
Among the companies cited by Repórter Brasil was a unit of Japan’s...
Govt and ADB sign $200 million loan to tackle flood and erosion risk along Brahmaputra river
“Through the project, ADB continues to pursue its cost-effective,...
Buffett’s Berkshire suffers in Covid pandemic even as Apple boosts profit
Insurance profit fell 58% to $802 million, reflecting lower premiums at Geico, COVID-19, Hurricanes Laura and Sally, and lower income from investments as interest rates tumble.
Geico awarded drivers $2.5 billion of credits on policy renewals this year, and Berkshire said its accounting for those credits should hurt underwriting results through March 2021.
Govt working to make India automobile manufacturing hub in next 5 years: Gadkari
He also said that Indian manufacturers have the capability to make efficient EVs that can not only create more jobs but also provide opportunities for exports.
“e-Mobility is going to be the future mode of transport with greater efficiency and less impact on the environment. Import of crude oil and air pollution are two major concerns for the country. We need to have an integrated approach for EVs,” he added.
Pak airlines may be banned from flying to 188 countries over pilots issue
Due to the licence scam, flag carrier Pakistan International Airlines (PIA) has already been barred from flying to the UK and the European Union, The Express Tribune report said.
The scam cam to light after Ghulam Sarwar Khan, the Federal Minister for Aviation, had revealed in August that 262 pilots including 141 of the PIA held fake credentials.
Hackers stole source code from govt agencies, private firms: FBI
The FBI alert warned the owners of SonarQube, a web-based application that companies integrate into their software build chains to test source code and discover security flaws before rolling out code and applications into production environments.
The actors exploit known configuration vulnerabilities, allowing them to gain access to proprietary code, exfiltrate it and post the data publicly.
The FBI has identified multiple potential computer intrusions that correlate to leaks associated with SonarQube configuration vulnerabilities.
DDoS attacks fall 73% in Q3: Kaspersky
“Many companies were not prepared for remote working or did not consider their web assets as critical. For instance, we had several requests from organisations, such as mask manufacturers, that fell victim to DDoS attacks,” Alexey Kiselev, Business Development Manager on the Kaspersky DDoS Protection team, said in a statement.
Lloyd’s 2nd blueprint targets cost reduction of £800m for brokers, underwriters and business partners
The comprehensive programme and priorities detailed in Blueprint Two will profoundly transform the way in which customers get covered, right though to recovering from loss; this will be achieved by the redesign of the entire insurance lifecycle process – from placement through to accounting, payment, endorsements, claims, renewals and reporting – offering a seamless digital service for all Lloyd’s customers and stakeholders globally.
Lloyd’s of London ditches plan to create its own electronic exchanges
Lloyd’s no longer plans to launch its own complex risk exchange but will work with existing platforms already used by the market, such as PPL, to improve digitalisation. Lloyd’s bought a 40% stake in PPL this year.
Maruti Suzuki recalls 40,453 Eeco units to fix issue with headlamp
“The company will inspect 40,453 units of Eeco for a possible issue of standard symbol missing on the headlamp. Any action, if required, shall be undertaken free of cost,” it added.
Shifting global supply chain can add $63 billion of prms in 5-yrs: Swiss Re
“Yes, supply chain changes are happening, they are real, and I think in the bigger picture this is positive.There are real opportunities during the transition. The insurance industry has a growing opportunity to offer cover in areas such as business interruption (BI), also contingent BI and non-damage BI’’ said Jerome Jean Haegeli, group chief economist, Swiss Re, said while speaking at a session on “De-risking Global Supply Chain: Strengthening Resilience in a time of Disruption”, during the SIRC 2020 Re-Mind virtual conference on Wednesday.
Threat of crackdown on U.S. insurers fades as political ‘Blue Wave’ sputters
That bodes well for the insurance industry, which had feared a Democratic sweep would allow progressives to reprise regulations introduced after the 2008-2009 financial crisis and push a disruptive healthcare overhaul.
Health insurance stocks jumped on Wednesday, as fears of a dramatic change faded. The S&P 500 managed care index .SPLRCHMO rose 9.8% as investors and insurance trade groups cheered an expected Republican hold on the Senate.