On Tuesday Bayer was hit with a $100 million verdict in the most...
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CoreLogic estimates California wildfire insured losses at $35 to $45 billion
This analysis of both residential and commercial properties...
Country can’t afford to take cyber security resources from even friendly country: IT Secretary
"There is a crucial story, especially in something like cyber...
Crypto crime down in 2021 through April, but ‘DeFi’ fraud at record -CipherTrace
Globally, crypto criminals ran away with $432 million as of end-April, according to the CipherTrace report. About 56% of that, or $240 million were DeFi-related, a record peak.
For the whole of 2020, losses in the crypto sector through fraud and crime were $1.9 billion. In 2019, crypto crime losses hit a record $4.5 billion.
Cairn Energy sues Air India to enforce $1.2 bln arbitration award – court filing
Cairn filed the lawsuit on Friday in the U.S. District Court for the Southern District of New York, seeking to make Air India liable for the judgement that was awarded to Cairn. The lawsuit argued that the carrier as a state-owned company, is “legally indistinct from the state itself.”
The move ratchets up pressure on India’s government to pay the sum of $1.2 billion plus interest and costs that the British firm Cairn was awarded by an arbitration tribunal in December. The body ruled India breached an investment treaty with Britain and said New Delhi was liable to pay.
India is home to 13 of the 20 riskiest cities in the world, extreme levels of air and water pollution
Globally, 1.5 billion people live in 414 cities that are at high risk from pollution, water shortages, extreme heat, natural hazards and the physical impacts of climate change.
Adani and other Australian coal miners flag finance, insurance difficulties
The withdrawal of global insurers risks making even some ancillary business unviable, said contractor BMD Constructions Pty Ltd, which is building a section of a 210 km (130 mile) rail line to service Adani’s Carmichael mine in northern Queensland state, which is due to start operating this year.
The coal miners argued that Australia’s high-energy coal offers a comparatively lower emissions alternative to export markets compared with coal from other regions. They say coal also provides billions of dollars to government coffers and supports regional jobs.
Fire tragedy: FIR against trustees of Bharuch hospital
Sixteen COVID-19 patients and two trainee nurses died in the blaze in the ICU ward of the ‘Welfare Hospital’, run by a charitable trust, on May 1.
The FIR was registered against the Bombay Patel Welfare Society’s president, Khalid Patel, other trustees and key functionaries of the trust which runs the hospital, Parmar said, adding that no one has been arrested so far.
Government pro-actively looking for action on WhatsApp privacy rules issue: MeitY official
“The ministry is cognisant of this problem. Today, Germany has banned this privacy policy of WhatsApp. The ministry is proactively looking at what we can do about it,” MeitY Special Secretary and Financial Advisor Jyoti Arora said at an Assocham event.
Many COVID-19 experts believe time for Americans to ditch the mask rule
Right now, the vaccination figure is around 59 per cent of adults with at least one dose, while the country is reporting around 38,000 daily new cases — a per capita rate of 11 new cases per 100,000 people, well below global hotspots and falling fast.
According to New York Times, as of Wednesday, about 154 million people have received at least one dose of a Covid-19 vaccine, but only about one-third of the nation, some 117.6 million people, have been fully vaccinated.
Remote work leads to massive surge in hacking globally: Report
Among Financial and insurance industries, 83 per cent of data compromised in breaches was personal data, while in Professional, Scientific and Technical services industries only 49 per cent was personal.
“As the number of companies switching business-critical functions to the cloud increases, the potential threat to their operations may become more pronounced, as malicious actors look to exploit human vulnerabilities and leverage an increased dependency on digital infrastructures” said Tami Erwin, CEO, Verizon Business, in a statement. .
Colonial Pipeline has cyber insurance policy, paid hackers nearly $5 Million in ransom
The cover was for at least $15 million.
Cyber insurance typically covers ransom payments and insurers often provide staff to negotiate with the hackers, in addition to IT and public relations services.
Swiss Re CEO Christian Mumenthaler argues that the private insurance market is simply not large enough to offer full cyber protection to vulnerable organisations, due to the systemic nature of cyber risk.
He observed that the cyber insurance market is currently worth around $5.5 billion in premium, compared to “gigantic” yearly losses that extend into the hundreds of billions of dollars.
U.K. cyber spies took down 15-times more scams in Pandemic
The COVID-19 pandemic led to a surge in malicious hacking and phishing attempts globally as fraudsters took advantage of more people working from home, which led to weaknesses in corporate security and fears about the virus that led people to click on links purporting to have information about the disease.