“Most disruptive and destructive cyberattacks are about influence...
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Iran-Israel Attacks: Insurance costs jump for ships sailing in Persian Gulf
Underwriters are now charging 0.2% of the value of a ship for calls...
Air India warned by DGCA for flying Airbus planes with unchecked escape slides
In the report, the Directorate General of Civil Aviation said spot...
Shell says its Australian BG Group business hit by MOVEit breach
A number of businesses globally have lately been affected by a cybersecurity breach on the software tool MOVEit that is typically used to transfer large amounts of often sensitive data including pension information and social security numbers Shell Plc said on Friday...
TikTok fined 345 million euros over handling of children’s data in Europe
It is the first time ByteDance-owned TikTok has been reprimanded by the DPC, the lead regulator in the EU for many of the world's top tech firms due to the location of their regional headquarters in Ireland Dublin: TikTok has been fined 345 million euros ($370...
Chubb launches Lloyd’s Lithium Battery consortium
The consortium was created to address a lack of capacity in the marine cargo market for providing lithium battery transit and stock insurance. It provides a one-stop solution with limits up to $50 million for risk types associated with lithium batteries including...
Superbugs Are ‘Dangerously High’ Threat in Greece, India, Turkey
The ballooning calamity would leave more patients without effective cures for pneumonia, bloodstream infections and a range of other illnesses Drug-resistant microbes exact a heavy toll: They claim 79,000 lives a year across 34 OECD and EU/EEA countries and ratchet up...
RBI says 15 large NBFCs to comply with enhanced regulatory requirements
Besides LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, others in the list include L&T Finance, Piramal Capital & Housing Finance, Cholamandalam Investment and Finance Company Mumbai: Reserve Bank of India on Thursday said 15 large NBFCs,...
AI regulations: Key considerations to ensure customer protection without compromising innovation
Despite the benefits AI offers to both customers and insurers, however, there are concerns around privacy and the risk of potential discrimination, as well as the lag between the pace of development of AI technologies and corresponding regulatory frameworks, cautioned...
Global companies to hike security spending as threats rise, survey shows
Allied Chief Executive Steve Jones told Reuters that while much of the fraud, counterfeiting and loss of intellectual property was driven by financial gain, some internal leaking of sensitive information was motivated by social causes LONDON: Almost half of security...
IMF-FSB paper pitches for coordinated action to deal with cryptocurrencies
The policy roadmap suggested by the paper to mitigate cryptocurrency risks includes building institutional capacities beyond G20; enhancing global coordination, cooperation and information sharing; and addressing data gaps necessary to understand the rapidly changing...
Philips to pay at least $479 million for Apnea machine cases
The machines are designed to force extra air down users’ throats to treat obstructive apnea – an ailment that interferes with proper sleep and can cause fatal heart problems. U.S. Food and Drug Administration officials have said they’ve linked 385 deaths to...
Global fears are feeding demand for re/insurance: Lloyd’s CEO
John Neal,Chief Executive Officer,Lloyd’s of London Rising inflation, recession worries, climate threats and geopolitical tensions are making individuals and businesses more wary of risks, according to the head of the insurance exchange. While in a normal year...