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French households, businesses face soaring costs for insurance due to climate change: Govt
The cost of climate disasters may double in the 30 years through...
Irdai permits insurers to undertake transactions in bond forwards for hedging
In a circular on 'Exposure to Forward Contracts in Government...
Microsoft warns thousands of cloud customers of exposed databases
Microsoft told Reuters that “customers who may have been impacted received a notification from us,” without elaborating.
The disclosure comes after months of bad security news for Microsoft. The company was breached by the same suspected Russian government hackers that infiltrated SolarWinds, who stole Microsoft source code. Then a wide number of hackers broke into Exchange email servers while a patch was being developed.
China spells out how excessive ‘996’ work culture is illegal
The Supreme People’s Court and Ministry of Human Resources and Social Security published a lengthy essay Friday about labor violations and unreasonable overtime, labeled ‘996’ because of the common practice of working 9 a.m. to 9 p.m., six days a week. It outlined 10 cases — including but not limited to the tech industry — in which employees were forced to work extra hours, or put in harm’s way.
Tech companies pledge billions in cybersecurity investments
Google has committed to invest $10 billion in cybersecurity over the next five years, money aimed at helping secure the software supply chain and expand zero-trust programmes.
Make ‘bumper-to-bumper’ insurance mandatory : Madras HC
“, this court directs that whenever a new vehicle is sold after September 1, it is mandatory for coverage of bumper to bumper insurance every year, in addition to covering the driver, passengers and owner of the vehicle, for a period of five years. Thereafter, the owner of the vehicle must be cautious in safeguarding the interest of driver, passengers, third parties and himself/ herself, so as to avoid unnecessary liability being foisted on the owner of the vehicle, as beyond five years, as on date there is no provision to extend the bumper to bumper policy, due to its non-availability, said Justice S Vaidyanathan of the Madras High Court.
Lloyd’s forms partnership to deliver faster claims service through geospatial technology
The GEO platform will provide the Lloyd’s market with real-time analysis of global perils including storms, wildfires and flooding. The data, which includes innovative resolution drone imagery, allows Lloyd’s market insurers to instantly assess damages at a time when physical access to the risk location may be limited following a natural catastrophe.
Satellite imaging combined with other intelligence data sources is an innovative way of assessing damage to insured infrastructure and businesses. The technology will help insurers support customers around the world during periods of crisis, whilst reducing operational costs and the carbon footprint of insurers.
RBI extends scope of tokenisation to laptops, wearable devices
Tokenisation, which aims at improving the safety and security of the payment system, refers to the replacement of actual card details with a unique alternate code called the ‘token’, which is unique for a combination of card, token requestor and identified device.
IBM’s new processor to detect fraud in real-time
It features an innovative centralised design, which allows clients to leverage the full power of the AI processor for AI-specific workloads, making it ideal for financial services workloads like fraud detection, loan processing, clearing and settlement of trades, anti-money laundering and risk analysis.
Asia Pacific sovereign ratings can withstand Covid-19 waves: S&P
“Covid-19 does limited damage to the economic growth trend and structural fiscal performance of most sovereigns in the region,” said S&P Global Ratings credit analyst Kim Eng Tan. “Consequently, most sovereign ratings in the region are likely to remain unchanged over the next one to two years,” he said.
However, sovereigns’ fiscal resilience to future shocks can weaken as government debt levels rise further in the continued struggle with the pandemic. “The impact of further waves of Covid-19 infections could lower sovereign ratings that already have negative outlooks, especially if revenue growth disappoints and interest rates rebound by more than we expect,” said Tan.
CCI slaps a penalty of Rs 200 cr against Maruti Suzuki India for its anti-competitive conduct
CCI found that MSIL had an agreement with its dealers whereby the dealers were restrained from offering discounts to the customers beyond those prescribed by MSIL
Indian tops global cyber attacks on education sector: Report
“In India, schools, universities and research centres make for attractive targets to cyber criminals because they are often under resourced from a security perspective. The short-notice, on-and-off shift to remote learning exacerbates the security risk,” said Sundar Balasubramanian, Managing Director, Check Point, India and SAARC.