Category:

Risk Management

Apple stopped over $1.5B in potentially fraudulent transactions in 2020

Apple said it relies on a sophisticated system that combines machine learning, artificial intelligence, and human review by expert teams to moderate these ratings and reviews to help ensure accuracy and maintain trust.

Since 2020, Apple has processed over 1 billion ratings and over 100 million reviews, and over 250 million ratings and reviews were removed for not meeting moderation standards.

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Users not accepting privacy terms to face limited functionality: WhatsApp

Explaining the course of action after ‘persistent’ reminders are sent to users, WhatsApp said: At that time, you’ll encounter limited functionality on WhatsApp until you accept the updates.

This will not happen to all users at the same time. You won’t be able to access your chat list, but you can still answer incoming phone and video calls. If you have notifications enabled, you can tap on them to read or respond to a message or call back a missed phone or video call, it said.

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Toyota-backed self-driving car Pony.ai partners with Luminar

James Peng, Pony.ai CEO said the startup chose Luminar’s Iris lidar for its performance but also as it can be integrated into the car better than traditional lidars.

“It’s actually starting to blur the line between what you see as a very well designed passenger vehicle and the monstrosities that have been on top of some of the AV test vehicles,” said Austin Russell, founder and CEO of Luminar.

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Underwriters puzzle over how to make pandemics insurable again

U.S. company SpottedRisk has devised a model built on years of data on the political and economic environment of film locations in 150 countries, as well as a year’s COVID-19 shutdown data, to come up with a pricing mechanism to cover the risk of production stopping due to the pandemic.
Britain, the European Union and the United States are all looking at arrangements in which cover from commercial insurers would be backed by government reinsurance schemes. Such schemes could be less costly than business bailouts but the process of developing them is slow, as governments grapple with the problems at hand.

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Pharma has limited legal options if vaccine patents waived

Still, some vaccine producers, like Moderna Inc. and Pfizer Inc., might sue the U.S. to recoup some of their losses, said Matthew Howell, an intellectual property attorney at Alston & Bird in Atlanta. If the manufacture of the vaccine is done in the U.S., under the government’s authorization, there are avenues for compensation in American courts.

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French banks told to speed up response to climate change

Other financial watchdogs around the world will also be conducting similar tests on the finance industry to help to reduce the impact of climate change on economies. Banks and other finance companies will have to disclose to investors the impact of climate change on their balance sheets under proposed European Union rules.

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Insurers warn government Canada’s flood mapping must not take a decade

Prime Minister Justin Trudeau pledged sweeping climate action during his re-election campaign last year, including C$150 million ($112.2 million) for flood mapping. The federal budget is expected at the end of March.

“Flooding is by far the single greatest peril facing Canadians as a result of climate change,” Craig Stewart, vice president of federal affairs for the Insurance Bureau of Canada, told Reuters.

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WHO experts voice “very low confidence” in some Sinopharm COVID-19 vaccine data

The document includes summaries of data from clinical trials in China, Bahrain, Egypt, Jordan and the United Arab Emirates.
The “evidence assessment” document was prepared by the WHO’s Strategic Advisory Group of Experts (SAGE) for its evaluation of the Sinopharm shot, authorised by 45 countries and jurisdictions for use in adults, with 65 million doses administered. The experts review evidence and give recommendations on policy and dosages associated with a vaccine.

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