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Govt wants insurance payouts to replace its compensation in managing natural disasters: DFS Secy
L to-R-Hitesh Kotak, Chief Executive, Japan, India, Korea, and...
WTW launches an AI-driven performance monitoring tool custom-built for insurers
Radar Vision provides unique insights for pricing, portfolio...
Corporate payment delay trend stabilized, but risks and uncertainty remain:Coface Asia Corporate Payment Survey 2021
On economic improvement in 2021,Australian firms were the most optimistic, with 80% of respondents anticipating higher growth, followed by India (76%), China (73%), Malaysia (73%) and Taiwan (71%). In contrast, Japan was the only country where less than two-thirds of respondents (61%) expect an improvement in economic growth during 2021.
By sectors, automotive is the most confident regarding year-ahead sales, with 66% of respondents expecting an improvement. This was followed by energy (64%), metals (64%), paper (63%) and pharmaceutical (61%). The highest proportion of companies anticipating an improvement in cash flows over the next 12 months were found in automotive, agri-food, and pharmaceutical at 55% each, followed by metals (53%), paper (52%), and chemicals (51%).
NGT directs Jindal Saw Ltd to pay Rs 4 cr compensation for damaging houses by illegal blasting
The National Green Tribunal (NGT) said the company must take precautions in the future and blasting must be scientific so that it does not cause damage to the properties of people. These will be treated as conditions for mining and blasting, apart from the laid down safeguards, it said.
Covid will be reduced to an endemic in future, zero figure in Delhi unlikely: Experts
Dr Suresh Kumar, medical director of Delhi government-run LNJP Hospital said there will always be a few cases of the virus.
”Zero is an unlikely figure. The virus is mutating and it is difficult to predict it’s future behaviour,” he said.
A massive ransomware attack has hit more than 1,000 companies
The impact of the attack is only beginning to come to light. In Sweden, a majority of grocery chain Coop’s more than 800 stores couldn’t open on Saturday after the attack led to a malfunction of their cash registers, spokesperson Therese Knapp told Bloomberg News.
There are victims in 11 countries so far, according to research published by cybersecurity firm ESET.
The hackers were identified as the Russia-linked ransomware group REvil, which was accused last month of hacking giant meatpacker JBS SA.
Didi shares dive as China unveils new cyber probe after mega IPO
The move is to prevent data security risks, safeguard national security and protect public interest, according to a statement from the Cyberspace Administration of China. Didi has halted new user registrations during the probe. The company, which only started trading on Wednesday in New York after an initial public offering, fell 7% to $15.26.
Cyber laws, rules, and guidance must be workable, risk-based, clear, transparent, and consistently applied across companies and jurisdictions:US Insurers
Insurance is an important economic recovery resource for victims of ransomware attacks. Prohibitions on the reimbursement of legal ransom payments presents potential unintended consequence such as eliminating a meaningful risk management resource.
Insurance policy and underwriting activities should not be misconstrued as cybersecurity risk assessments, which provide the insured with confidence that their security measures are sufficient to avoid or eliminate ransomware attacks.
Insurance is an important economic recovery resource for victims of ransomware attacks. Prohibitions on the reimbursement of legal ransom payments presents potential unintended consequence such as eliminating a meaningful risk management resource.
Like a customer’s decision on how to manage cyber risk, insurers must also be able to determine their risk appetite through careful underwriting and appropriate coverage offerings.
Govt to unveil national cyber security strategy soon: National Cyber Security Coordinator
”The vision of this strategy is to ensure safe, secure, resilient, vibrant, and trusted cyberspace,”National Cyber Security Coordinator Rajesh Pant said.
Big Tech’s push into India’s financial sector raises concerns, says central bank
The RBI said concerns included operational risks, too-big-to fail issues, challenges for antitrust rules, cybersecurity and data privacy. But it added that positive outcomes could include efficiency gains and more access to financial services.
The central bank’s warnings come at a time of much tension between the Indian government and U.S. tech giants over issues that range from e-commerce rules to data privacy and content posted on their platforms. Amazon, Facebook, Facebook-owned WhatsApp and Twitter have all been caught up in disputes with New Delhi.
Study links Black Carbon with premature deaths, may help better estimate pollution mortality burden
Most pollution-based epidemiological studies essentially relate exposure to the concentration of particulate matters (PM-10 and/or PM -2.5) that invariably generalise all particulates with equal toxicity without distinguishing among them by source and composition, which genuinely have different health consequences.
Scientist R K Mall led the team of other scientists including Nidhi Singh, Alaa Mhawish, Tirthankar Banerjee, Santu Ghosh, R S Singh from the Department of Science & Technology-Mahamana Centre of Excellence in Climate Change Research (MCECCR) at Banaras Hindu University which conducted the story.
Swiss Re’s iptiQ and ImmoScout24 launch digital loss of rent insurance
Andreas Schertzinger, CEO of iptiQ EMEA P&C, says: “With ImmoScout24, we have found the ideal partner in Germany to offer customers tailor-made household insurance products online precisely when it matters. Thanks to the seamless integration of our product into ImmoScout24’s digital ecosystem, customers can insure themselves against the risk of rent-related losses directly online and throughout the rental process.”