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Risk Management
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Boeing ordered to pay over $28 million to 737 MAX crash victim’s family
The verdict awarded to the family of Shikha Garg is the first in...
Public health of Indians at risk due to substandard imports of PVC resin from China: Report
The study, titled "Balancing Growth and Public Health Safety:...
Banks at crossroads as AI costs rise and risks escalate: S&P Report
In terms of risk management practices, the report pointed out that deploying AI technologies introduces new technical risks and increases reliance on third-party vendors. At the same time, AI can help banks improve risk identification, monitoring, and pricing. New...
Ministry of civil aviation clarified pilot not being blamed for AI plane crash: Centre to SC
Justice Joymalya Bagchi said, “The AAIB inquiry is not for apportion blame on anyone. It is only to clarify the cause so that the same does not happen again.” New Delhi: The Air India pilot has not been blamed in the AAIB’s preliminary report into the June 12 plane...
Willis and Rare partners to launch innovative insurance solution for fishers in the Philippines
Christopher Au, Head of APAC Climate Risk Centre, at Willis, said: “With over 1.9 million registered small-scale fishers relying on the nearshore for their livelihoods, the impacts of climate change, such as high winds, rough seas and heavy rainfall, pose increasing...
Managing Customers: Banks and insurers deploy AI agents to fight fraud and process applications
-Three in five banks and insurers cite customer onboarding among top reasons for AI agent adoption,-33% of firms are actively developing proprietary AI agents in-house, though only 10% have deployed at scale,-Nearly half of banks and insurers are creating new jobs to...
Google sued for secretly amassing user data via Gemini AI
In the past, users of Gmail, Chat and Meet were given the option to turn on Google’s artificial intelligence program. But in October, the Alphabet Inc. unit “secretly” turned on Gemini for all those applications, enabling it to collect private data “without the users’...
IRDAI closely monitoring health insurance claims gaps, says Chairman Seth
Ajay Seth, chairman,IRDAI `While the number of health insurance claims settled is high, the amount settled especially in full is sometimes lower than expected.This is an area we are monitoring closely. Our expectation from the insurers is clear. Prompt, fair and...
Asia’s wealthy families unprepared for successive planning as their fortunes near $99 trillion
Chaotic handovers have the potential to freeze assets in legal disputes, fragment family empires, and destabilize companies that have grown rapidly but lack the governance structures that many Western dynasties built over generations Asian private wealth is projected...
Willis announces senior Cyber appointments in Asia
Willis, a WTW business has appointed Conor Keating as Head of Cyber, Asia, and Carlos Grijalva as Head of Cyber Sales, in Asia, effective immediately. Based in Singapore, Conor Keating transitions into the role of Head of Cyber, Asia, from his previous position as...
Aon launches AI-enabled claims copilot
“It empowers our professionals to turn insight into action, helping clients achieve faster claims resolution, maximize recoveries, and make better informed risk and coverage decisions,” said Joe Peiser, CEO of Commercial Risk at Aon DUBLIN: Aon plc, global...
Hurricane Melissa triggers 100% payout of $150 million World Bank Catastrophe Bond for Jamaica
Catastrophe insurance backed by catastrophe bonds are part of the World Bank’s Crisis Preparedness and Response toolkit which provides developing countries with an innovative suite of tools to better respond to crises and prepare for future shocks. This includes fast...