''Putting several lives at huge risk, 32 per cent of the vehicles...
Category:
Non-Life
Latest
Britain and Switzerland agree wide-ranging financial services trade deal
“It is an agreement based on deference: Swiss firms can operate...
Special camps to be organised in TN’s 4 districts to settle insurance claims once flood water recedes: FM
As many as 31 people have lost their lives in the four districts...
India found cybersecurity lapses at National Payments Corp in 2019 – government document
The March 2019 government document cited the storing of 16-digit card numbers and other personal information such as customer names, account numbers and national identity numbers in “plain text” in some databases, leaving the data unprotected if the system was breached. The audit has not previously been reported.
Global health agencies fear wealthier countries will go it alone on Covid-19 vaccines
“There is a risk that some countries are doing exactly what we feared – which is every man for himself,” said Gayle Smith, former head of the US Agency for International Development and CEO of the One Campaign, a non-profit aimed at ending poverty and preventable disease.
Swiss Re reshuffles APAC management team
According to a Swiss Re announcement on Thursday, Sharon Ooi,currently managing director, head of P&C underwriting APAC, based in Singapore will relocate to Sydney to become head of Australia and New Zealand,
Sharon will replace Mark Senkevics who in turn will take charge of Ooi’s current role and lead Swiss Re’s APAC property and casualty (P&C) underwriting business from Sydney,
Coastal flooding could hit 20% of world GDP by 2100 – study
Flood events that have typically occurred once in 100 years “could occur as frequently as once in 10 years” for much of the world, said the authors of the report, including researchers at the universities of Amsterdam, Melbourne and the Global Climate Forum.
Govt appoints SN Rajeswari as CMD of Oriental Insurance
“Rajeswari has been appointed as the CMD of OIC in the scale of pay of Rs 2,05,400-2,24.400 for a period from the date of notification of her appointment till the date of superannuation ie 31st May 2022,’’ said a official order issued by the department of personnel & Training..
Hong Kong moves to create regional hub for insurance-linked securities
The Hong Kong government introduced in March the Insurance (Amendment) Bill 2020[here]. The bill provides a regulatory framework for insurers to transfer risk to the capital markets by issuing insurance-linked securities in Hong Kong through special purpose insurers, or SPIs. Special purpose insurers are essentially the same as the dedicated special purpose vehicles that are authorized in other jurisdictions to issue insurance-linked securities, or ILSs.
Americans driving older cars as average age nears 12 Years
The aging U.S. vehicle fleet has been an issue as U.S. lawmakers have debated economic stimulus plans. Proposals to provide government-funded incentives to retire older, more polluting vehicles,or encourage drivers to get new vehicles with more advanced safety technology have so far not gained much traction.
UK sets up $647 million emergency insurance fund for film and TV
As filmmakers try to get back to work, they are finding some insurers have stopped providing the COVID-19 coverage they need to secure financing.
The government said the insurance fund will be available to all productions made by companies where at least half the production budget is spent in the UK, and is estimated to cover more than 70% of the film and TV production market.
California scrutinising Amazon’s treatment of workers during Coronavirus outbreak
The lawsuit alleges unsafe practices such as having workers share equipment such as freezer suits and failing to allow extra time for safe social distancing.
More S.African insurers yield to customer demands to pay COVID BI claims
The FSCA and the Prudential Authority, which oversees the strength of the financial-services industry, last week struck a deal with insurers to consider once-off payments to help keep customers afloat, while courts decide whether insurers are correctly interpreting the terms of contracts.