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Govt says sanctioned Russian oil tankers can discharge before Feb 27
India's oil secretary Pankaj Jain said the deadline, as outlined by...
OpenAI faces new copyright case, from global book publishers in India
The case was filed on behalf of all the federation's members, who...
AM Best places credit ratings of Singapore Re under review with developing implications
This Credit Rating (rating) action follows an announcement made on the Singapore Exchange (SGX) on 21 April 2021 that Fairfax Asia Limited’s (Fairfax Asia) recent voluntary cash offer to purchase all issued and paid-up ordinary shares in the capital of Singapore Re, other than those already held by Fairfax Asia and other Fairfax Financial Holdings Limited (Fairfax group) companies, has been declared unconditional.
Tackling climate change through emerging hydrogen industry: Managing complex risks
Driven by climate change, the possibilities of energy storage, use as a fuel and the long-term intention to replace reliance on coal and oil, hydrogen has the potential to morph from a niche power source into big business.
New bulletin from Allianz Global Corporate & Specialty (AGCS) highlights operational risks that need to be addressed in hydrogen projects, including fire and explosion hazards, impact of embrittlement and business interruption exposures.
AGCS sees increasing demand for insurance coverage for hydrogen solutions in future.
‘Bunch of garbage’: Campaign to ease pilot overload from antiquated safety warnings
The reform of the more than century-old system of Notices to Airmen (NOTAMs) – originally modelled after Notices to Mariners – is part of a wider push to make aviation simpler, particularly in the wake of two Boeing (BA.N) 737 MAX crashes.
Chubb and Marsh partnership to provide $150 million cover for the COVAX Program for 92 low and middle-income countries
Through Chubb’s and Marsh’s collaboration, up to $150 million in insurance is provided for the COVAX No Fault Compensation Program to cover compensation payments to eligible individuals in the 92 lower-income countries and economies, known as the Gavi COVAX Advance Market Commitment (AMC) eligible economies.
Insurance broker Marsh led the global placement of the bespoke solution. Chubb is the lead insurer, supported by a further 10 insurers located in the U.S., U.K., Germany, Ireland, Switzerland and Bermuda.
Increased cancer risk for petroleum industry workers and people living near plants: New UN study
The findings add to increasing evidence of the health consequences of air pollution from petroleum extraction and refining.
IRDAI panel makes various suggestions on retail engineering insurance products
On sum insured definition for retail segment for engineering products, it said: “Considering a near unanimous view from all stakeholders, the panel suggests Sum Insured limit of up to Rs 50 crores is recommended for retail segment”.
The group, as per the report, opined that the retail products with standard wordings with uniform coverage of a good range of essential covers are needed to give a comprehensive protection boost to the SME and MSME sector entities and units.
The products should be offered by all Indian insurers without any changes or modifications, it said.
Russia fines Apple $12 mln for alleged app market abuse
The Federal Antimonopoly Service (FAS) said on Tuesday that U.S. tech giant Apple’s distribution of apps through its iOS operating system gave its own products a competitive advantage.Facebook, TikTok and Alphabet’s Google have also come under fire. The FAS said in a statement it had imposed a turnover fine on Apple of 906.3 million roubles ($12.1 million) for the alleged violation of Russian anti-monopoly legislation.
White House considering intellectual property waiver for COVID-19 vaccines
Critics say waiving the WTO’s agreement on Trade-Related Aspects of Intellectual Property could reduce the safety of vaccines, and that setting up production in new places would sap resources needed to boost production in existing locations.
The United States and several other countries have thus far blocked negotiations at the World Trade Organization (WTO) about a proposal led by India and South Africa that would waive the IP rights of pharmaceutical companies to allow developing countries to produce COVID-19 vaccines.
Targeted ransomware attacks grow 767%, India among top targets
“We’ll most likely see fewer and fewer widespread campaigns targeting everyday users. Of course, that’s not to say users aren’t still vulnerable,” said Fedor Sinitsyn, security expert at Kaspersky.
“However, the primary focus will likely continue to be on companies and large organisations, and that means ransomware attacks will continue to become more sophisticated and more destructive,” he added.
India to be top spender on security solutions in APAC in 2021: IDC
“In Asia/Pacific, investments on security-related products and solutions (endpoint security, VPN, and firewalls) will experience double-digit growth in 2021 due to the increased spending by both governments and enterprises (particularly in the banking, telecom, and professional services industry),” explained Sharad Kotagi, Associate Market Analyst at IDC IT Spending Guides, Customer Insights and Analysis.