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Govt ropes in Deloitte for evaluating new 9 EDs of PSU gen insurance industry
At the end of the programme, Deloitte will give some grades to each...
Moody’s RMS partners with insurtech Alwrite to provide quick quotes to Indian insurers
“ Offering simplified and efficient integration, Moody’s RMS...
The faces of India’s coronavirus pandemic as deaths hit 100,000
In what is still a conservative and developing country, some of the relatives said they faced ostracism after their loved ones caught the virus. Others said they have suffered from depression and money troubles. All said more could have been done to save the people who died
Microsoft says Russia behind most nation-state cyber-attacks
Microsoft Corp. has issued 13,000 alerts about nation-state hacking attempts to its customers in the last two years, with 52% of incidents between July 2019 and June 2020 related to Russian hackers — whose targets have ranged from elections to the Olympics, according to a report published Tuesday. Iran was responsible for a quarter of the alerts while China was responsible for 12%. The remainder of the nation-state activity observed by Microsoft came from North Korea and other countries.
Second sero survey indicates reduction in infections in Mumbai slums
Mumbai is one of the worst-affected COVID-19 hotspots in the country with over two lakh cases and nearly 9,000 deaths so far.
Honda to quit F1 to focus on zero-emission technology
“This is not a result of the coronavirus pandemic but because of our longer-term carbon-free goal,” Chief Executive Takahiro Hachigo said.Like other automakers, Honda is rushing to build new-energy vehicles in an industry shift that Hachigo on Friday described as “once in a century”. That race is accelerating amid the coronavirus outbreak as carmakers review production plans to capture market share with new models including low or zero-emission vehicles.
Pandemics overtakes climate change as biggest worry for insurers
COVID-19 is proving to be a major challenge for insurers, especially those that provide cover for canceled events such as sports matches and concerts. Disputes over coverage have led some policyholders to take legal action, with AXA recently losing a lawsuit against five restaurant operators. The insurer said it will appeal the ruling.
U.S. Treasury warns cyber insurers payments to hackers may violate sanctions
The average ransomware payment jumped by 60% to $178,254 between the first and second quarters, according to Coveware a firm that helps negotiate and facilitate cyber ransom payments.
Sophisticated insurers and financial institutions are already aware of the sanctions concern, said Sumon Dantiki, a King & Spalding LLC lawyer who advises on national security and cyber matters.
France needs new pandemic business insurance law – minister
“The state is not going to pick up the tab for businesses’ operating losses each time there’s a new pandemic,” Le Maire said in an online interview session with Le Monde newspaper.
France urges parts review after Airbus A380 engine blowout
France’s BEA agency made the recommendation in a final report into the accident in which an Air France jet carrying more than 500 passengers lost the front section of one of its four engines while flying over Greenland, before landing safely in Canada.
The move follows a perilous investigation involving a 21-month international aerial and ground search across the ice sheet to find a crucial titanium alloy fragment, buried 3 metres below the surface and just a metre away from a hidden crevasse.
UK regulator, insurers, brace for Supreme Court battle over COVID-19 case
The Financial Conduct Authority (FCA) had set a late Wednesday deadline for talks with insurers, such as QBE and RSA, to ensure eligible business interruption (BI) claims would be paid speedily, after the High Court ruled that thousands had been wrongly rejected.
White Mountains to acquire majority stake in Lloyd’s insurer Ark
Ark is a leading Lloyd’s platform well positioned to take advantage of the hardening market in property & casualty insurance. Founded in 2007 by Ian Beaton and Nick Bonnar, Ark manages the underwriting of syndicates 4020 and 3902 at Lloyd’s. The syndicates underwrite a diversified and balanced portfolio of reinsurance and insurance, including property, accident & health, energy, marine and political risks.