Jennifer Tiang, Regional Cyber Leader for Asia at Willis Towers Watson, said: “The survey results reflect the growing realisation that cyber risk is not simply an issue to be handled by an organisation’s IT team. It is a much broader issue cutting across all spheres of business and necessarily draws together stakeholders from risk, legal and IT teams, as well as requiring awareness of all employees from the ground up and board oversight from the top down. From cyber-attack to data loss, the financial impacts of a cyber event can be catastrophic.”
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Crowd ban in Olympics could cost reinsurers up to $400m: Fitch
“We estimate the total insurance cover for the Olympics to be about USD2.5 billion, comprising USD1.4 billion taken out by the International Olympic Committee and the Tokyo Organising Committee, USD800 million by broadcasters and USD300 million by other parties, such as sports teams, sponsors and hospitality. We believe reinsurers would bear most of the losses arising from this cover given that high-severity exposures are typically heavily reinsured,” said Fitch
CMs of north-eastern states share concerns regarding Covid with PM
While all CMs have put forth their preparedness plans to deal with third wave and acknowledged that cases are on the decline, Mizoram CM Zoramthanga did speak about problems the state is facing due to the porous border with Myanmar and Bangladesh and cases are coming across the border. Union Home minister Amit Shah too was present at the meeting.
Gilead analysis shows remdesivir reduced coronavirus death risk, more studies needed
Findings from the analysis showed that 74.4% of remdesivir-treated patients recovered by Day 14 versus 59.0% of patients receiving standard of care, the company said.
The mortality rate for patients treated with remdesivir in the analysis was 7.6% at Day 14, compared with 12.5% among patients not on remdesivir.
Relying on market forces for Covid-19 drugs would prolong the deadly pandemic:Bill Gates
With hundreds of vaccine projects under way and governments in Europe and the United States investing billions of dollars in research, trials and manufacturing, there is concern that richer nations could scoop up promising medicines against the new coronavirus, leaving developing countries empty-handed.
The European Commission and the World Health Organization have warned of an unhealthy competition in the scramble for a medicine seen as key to saving lives and resolving economic chaos sowed by virus, while some officials in Washington have indicated they would seek to prioritize U.S residents.
Life insurance industry sees double-digit degrowth in new premiums and policies in Apr-June Qtr
The life insurance behemoth the LIC, though has improved its market share to 74 per cent in terms new premium income, has seen its new premium income falling by 18.45 per cent y-o-y to Rs 36,530.02 in June quarter of 202-21.Its number of new policies sold during the June quarter have also fallen by 44 per cent y-o-y to 19,15,641
Pandemic-proofing: Insurance may never be the same again
Marsh, the world’s biggest insurance broker, has teamed up with AXA XL, part of France’s AXA,and data firm Arity, which is part of Allstate, to help businesses such as U.S. supermarket chains, restaurants and e-commerce retailers cope with the challenges of social distancing.
Tech firm Machine Cover, for example, aims to offer policies next year that would give relief during lockdowns. Using apps and other data sources, the Boston-based company measures traffic levels around businesses such as restaurants, department stores, hairdressers and car dealers
General and health insurers launch mandatory Corona covers,Bajaj Allianz General’s prm ranges between Rs447 to Rs 5,630 for a Rs 50k policy
The ‘Corona Kavach’ policy indemnifies policyholders for medical expenses on hospitalization for the treatment of the virus and includes the expense incurred on treating co-morbidity along with COVID-19. The policy will also cover road ambulance expenses, in case the service is opted for the purpose of hospitalization due to COVID-19. Home Care Expenses benefit (upto a period of 14 days) will also be covered in the policy for those seeking treatment within the comfort of their own homes, on the advice of a medical practitioner,said HDFC Ergo General Insurance.
Record single-day jump of 26,506 COVID-19 cases in India
Why reveal names of COVID-19 patients? it involves privacy: Bombay HC
The PIL said when the fundamental right to life and right to lead a healthy life clash with the fundamental right to privacy, then the court needs to see which of these rights would advance public morality and interest.
Bollywood wakes up to Covid-19 risks,Taapsee Pannu’s Looop Lapeta can be first film to be covered
“For instance, a crew member tests positive, the entire movie crew might have to be possibly quarantined. In that case, the producers will be covered from the money they are spending on days lost,” film’s producers Atul Kasbekar said.
Covid-19 Pandemic:General insurance industry returns to growth path in June,NIA’s market share at a record 19% in Jun qtr
The industry, at Rs 13,961 crore,has seen a growth 8 per cent year- on- year growth in June but at Rs 39,392 crore has recorded a degrowth of 4.24 per cent y-o-y in June quarter.
However, for first quarter ending in June, the industry with 33 players ,have remained in the negative zone in its premium income.
The month of June has witnessed a lot mid and large private sector companies, which had recorded a negative premium growth in the last three months- March, Apr and May-have returned to the positive growth path.Some of these companies are- ICICI Lombard General Insurance, the largest private sector general insurer, HDFC Ergo Genera Insurance,IFFCO Tokio General Insurance,Reliance General Insurance,SBI General Insurance Company, Kotak Mahindra General Insurance Company, Magma HDI General Insurance Company and Universal Sompo General Insurance, .
However except Kotak Mahindra General Insurance and Universal Sompo General Insurance Company, rest in the pack has degrown their premium in June quarter. .
COVID-19 pandemic in Africa is now reaching ‘full speed’
Johannesburg: The coronavirus pandemic in Africa is reaching full speed and it's good to prepare for the worst-case scenario, the Africa Centers for Disease Control and Prevention chief said Thursday, after a South African official said a single province is...