India experienced more than 400 extreme weather events in the three...
Category:
Risk Management
Latest
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...
Los Angeles Wildfires: A Wake-up Call For Re/Insurers
Wildfire exposures can be mitigated by relatively simple and...
French pharma firm guilty of fraud, manslaughter over weight loss pill: court
The drug Mediator was on the market for 33 years and used by about five million people before being pulled in 2009 over fears it could cause serious heart problems — more than a decade after such concerns had first been raised.
Suez Canal works to clear backlog as shipping convoys resume
The Ever Given’s grounding across a southern section of the canal forced a halt to all traffic, leading to a build-up of 422 ships at either end of the canal and along its course.
Automatic recurring payment to comply with RBI direction from April 1
Under the new norms, banks will be required to inform customers in advance about recurring payment due and transaction would be carried following nod from the customer. So the transaction would not be automatic but would be done after authentication from the customer.
Shipping companies may not get insurance claims for’ lost expenses’ incurred from Suez closure chaos
Ships typically have various types of insurance, including protection & indemnity (P&I) for pollution and injury claims. Separate hull and machinery policies cover vessels against physical damage.
“Both exclude loss of earnings,” Claudio Blancardi, underwriting director with ship insurer Nordic Marine, said.
China found using surveillance firms to help write ethnic-tracking specs
The technical standards, published by surveillance research group IPVM, specify how data captured by facial recognition cameras across China should be segmented by dozens of characteristics – from eyebrow size to skin color and ethnicity.
Indian payments firm MobiKwik says it is probing date breach claims
“The company is closely working with requisite authorities, and is confident that security protocols to store sensitive data are robust and have not been breached,” MobiKwik said in a statement. “Considering the seriousness of the allegations, and by way of abundant caution, it will get a third party to conduct a forensic data security audit”.
India extends shelf life of AstraZeneca vaccine
The approval, given to a licensed version of the drug made by the Serum Institute of India (SII) and exported to dozens of countries, could help health authorities minimise vaccine wastage and better plan their inoculation programmes.
Some African countries have only until the middle of next month to use up more than a million doses of the vaccine – branded Covishield by SII – if the shelf life is not extended.
Suez Canal blockage adds to pressure points in global trade
About 12% of global trade by volume goes through the Suez Canal, but it accounts for 30% of the world’s daily shipping container freight. That makes it the most important conduit for trade between Europe and Asia. Some 19,000 vessels passed through the canal last year, according to official figures.
Insurers come to Crypto’s wild west promising 50% plus returns
Now software developers are launching products that claim to reduce the risks by selling something akin to insurance coverage. But here’s the catch: They’re also DeFi apps.
Unlike insurance offered through the likes of Lloyd’s to custodians and large crypto exchanges, these apps — which run on digital ledgers called blockchains — let any investor buy coverage. They also allow anyone to form investment pools to provide coverage — often promising annual returns of at least 50%.
Over 40 mn old vehicles on Indian roads, Karnataka tops list at 700,000
More than four crore vehicles have been found to be older than 15 years, including over two crore which are more than 20 years old, as per the data.
The digitised vehicle records are as per the centralised Vahan database that excludes “Andhra Pradesh, Madhya Pradesh, Telangana, and Lakshadweep”, the ministry said.
Uttar Pradesh occupies the second spot with 56.54 lakh vehicles, of which 24.55 lakh are older than 20 years.