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India sixth-most severely-affected country by extreme weather from 1993 to 2022: Report
India experienced more than 400 extreme weather events in the three...
Equity investors’ wealth erode by Rs 18 lakh cr in 6 days of market fall
During the day, the benchmark tanked 905.21 points or 1.18 per cent...
US to treat growing ransomware incidents as terror attacks
Christopher Wray, Director of the FBI, told The Wall Street Journal that the country is facing a similar challenge like 9/11, and the Bureau has identified about 100 different types of ransomware, several of them being traced to Russia.
“There are a lot of parallels, there’s a lot of importance, and a lot of focus by us on disruption and prevention. There’s a shared responsibility, not just across government agencies but across the private sector and even the average American,” Wray told WSJ on Saturday.
Govt warns Twitter exemption from liability will be withdrawn on non-compliance
The new IT rules require significant social media intermediaries – those with other 50 lakh users – to appoint a grievance officer, nodal officer, and chief compliance officer. This personnel is required to be residents in India.
Under the new rules, social media companies will have to take down flagged content within 36 hours, and remove within 24 hours content that is flagged for nudity, pornography, etc. The Centre had said the new rules are designed to prevent abuse and misuse of platforms, and offer users a robust forum for grievance redressal.
Suez Canal controlled ship speed before it blocked waterway, insurer says
The Ever Given, one of the world’s largest container ships, is still being held in the canal while both sides continue compensation talks. It became jammed in high winds on March 23, halting traffic in both directions for several days and disrupting global trade.
The SCA initially demanded $916 million in compensation from Japanese owner Shoei Kisen, but has since said it would be willing to accept $550 million, including a $200 million deposit to secure the ship’s release.
39 lakh people displaced in India in 2020 due to climate disasters, conflicts: Report
The top three countries with high internal displacements last year were China, Philippines and Bangladesh, where over four million people were displaced, according to the State of India’s Environment Report 2021 released by the Centre for Science and Environment.The report stated that 76 per cent of the internal displacements globally in 2020 were triggered by climate disasters.
It said 4.05 crore people were displaced in the world that year, out of which, 3.07 crore people were displaced due to climate disasters and 98 lakh due to conflicts and violence.
India’s biggest torn between BlackRock and funding coal
State Bank of India hasn’t decided whether to help finance the Carmichael mine for Adani Enterprises Ltd, whose main shareholder is Indian billionaire Gautam Adani, following mounting pressure from climate activists and investors, Bloomberg reported in April.
Funding for global energy is at a tipping point. Green bonds and loans from the global banking sector so far this year exceeded the value of fossil financing for the first time since the clinching of the Paris Agreement at the very end of 2015.
Brit launches new consortium for placement of “Marine War breach call risks”
Keel offers up to $152.2m of capacity per risk and provides instant quotes that are fully sanctioned screened – an area of increasing importance in the growing regulatory environment affecting marine war risks.
1 Indian firm paying average Rs 55 lakh after ransom attack
The average ransom payment in India was $76,619 (over Rs 55 lakh). However, paying up often doesn’t pay off as Indian organizations that paid the ransom got back, on average, 75 per cent of their data and only 4 per cent got all their data back, according to ‘The State of Ransomware 2021’ report by global cybersecurity leader Sophos.
Ransomware & aggregation issues in US call for new approaches to US Cyber Risk : AM BEST
The loss ratio for cyber insurance rose dramatically in 2020, to 67.8%, from 44.8% in 2019. However, the increase was not limited to just a few insurers—the loss ratio rose for 15 of the 20 largest cyber insurers.
“The rate increases for cyber insurance outpaced that of the broader property/casualty industry, but the increase in cyber losses outstripped the rate hikes, which suggests more trouble for 2021 as ransom demands continue to grow,” said Sridhar Manyem, director, industry research and analytics.
Covid-19 vaccine: After Pfizer, Serum Institute seeks indemnity, say sources
Earlier last year, SII CEO Adar Poonawala had advocated for indemnity for all vaccine manufacturers.
“We need to have the government indemnify manufacturers, especially vaccine manufacturers, against all lawsuits… Frivolous claims come up and you see in the media something being blown out of proportion. The government needs to step in with the right messaging,” he had said.
Amid the nationwide COVID-19 vaccine crunch, US pharma giant Pfizer is seeking an indemnity bond that will exempt it from legal claims in case there are any adverse effects from the vaccine.
HDFC Bank commits to becoming carbon neutral by 2031-32
The bank has a three-pronged strategy to achieve its objective to become carbon neutral: Reduce consumption, transition to renewable energy, and offset carbon footprint.