"It has been determined that AI tools and AI apps (such as ChatGPT,...
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Non-inflationary Budget for Monetary Easing: Finance Secy
"The fiscal policy and the monetary policy need to work in tandem,...
DPDP rules,2025: Enforcing stringent requirements for data collection, processing and management
Bibhu Krishna, Chief Information Security Officer, Policybazaar.com...
UK launches new watchdog to keep tech giants in check
“Today is a major milestone in the path to creating the world’s most competitive online markets, with consumers, entrepreneurs and content publishers at their heart,” said UK Digital Secretary Oliver Dowden.
“The Digital Markets Unit has launched and I’ve asked it to begin by looking at the relationships between platforms and content providers, and platforms and digital advertisers. This will pave the way for the development of new digital services and lower prices, give consumers more choice and control over their data, and support our news industry, which is vital to freedom of expression and our democratic values,” he said.
Reinsurers set to bear brunt of costs for Suez Canal grounding
The UK Club will cover the first $10 million of P&I losses.
Beyond that, the wider pool of P&I insurers will cover up to $100 million, at which point reinsurers such as Lloyd’s of London step in for up to $2.1 billion of claims. P&I insurers would contribute for part of a further $1 billion of cover.
Australia regulator proposes exposure limits of life insurers to offshore reinsurers
“The recent growth in life insurers placing business with offshore reinsurers has been a prudential concern, as APRA does not have regulatory authority over these reinsurers,” the regulator’s Deputy Chair Helen Rowell said.
India’s richest man Ambani fined for irregularities in Reliance share issue
“It is noted that in the instant matter the noticees have been alleged to have failed to make public announcement to acquire shares of RIL and deprived the shareholders of their statutory rights / opportunity to exit from the target company and therefore they breached the provisions of Takeover Regulations. Such charges against the noticees make the instant matter grave,”Sebi has said in an order.
Suez Canal must upgrade to avoid future Shipping disruption
Shipping industry sources said specialist equipment and associated procedures have long struggled to keep up with the ever increasing size of commercial vessels.
“The average size of most vessels has increased exponentially over the last 15 years. The ability to salvage these bigger ships has not,” said Peter Townsend, a marine insurance industry veteran.
“The issue is getting containers off essentially a 20-story high building at sea.”
57% of Indian organizations suffered unexpected downtime in 2020 due to data loss, reveals Acronis Survey
While 2020 saw companies purchase new systems to enable and secure remote workers during the COVID-19 pandemic, those investments are not paying off. The global survey discovered that 70% of companies in India now run as many as 10 solutions simultaneously for their data protection and cybersecurity needs, while the remaining 30% run more than 10 solutions – yet 57% of all those organizations suffered unexpected downtime last year because of data loss.
1 in 2 Indian firms suffer unexpected downtime due to data loss
The Acronis survey polled 4,400 IT users and professionals in 22 countries across six continents, including India.
The report found that there is a significant gap in awareness among users and IT professionals in India of what IT and cybersecurity capabilities are available to them, which can cause them to lose valuable time, money and security
IRDAI tightens product and pricing regulations to check undercutting or inflating of premiums by general insurers
Analysts point out that, such regulations to check undercutting of premiums, that have been happening since detariffing was launched in the Indian general insurance industry in 2007 were overdue. Such cut throat unethical competition was generating huge underwriting losses in the domestic general insurance indstry which was not good for the financial viabilities of the players who are saddled with underwriting losses and even net losses even after so many years of operations..
IRM India affiliate signs knowledge partnership MoU with J.B. Boda Group to reinforce ERM awareness
Mumbai: With an aim to enhance the ERM ecosystem in the country, especially in the insurance and reinsurance broking sector, India Affiliate of Institute of Risk Management, the world’s leading professional body for Enterprise Risk Management (ERM), and...
Facebook admits leaked data on 533 million users back online for free
The leak includes personal information on 533 million Facebook users, such as phone numbers, Facebook IDs, full names, locations, birth dates, bios and in some cases email addresses, Business Insider reported.
At the time, the company addressed a flaw in its technology that allowed the information to leak out. However, once such data escapes from Facebook’s network, the company has limited power to stop it from spreading online.