Category:

Risk Management

Himalayan rescuers recover more bodies as flash flood death toll rises to 50

Uttarakhand is prone to flash floods and landslides. The disaster has prompted calls by environmental groups for a review of power projects in the ecologically sensitive mountains.

A team of scientists are investigating if a piece of a Himalayan glacier did fall into water and trigger the flood.

There are about 10,000 glaciers in the Indian Himalayas. Uttarakhand itself has up to 1,495 glaciers and many are receding due to the warming climate.

read more

EU expert group at odds over how to resolve tech, carmakers’ patent dispute

Tech firm Nokia and automaker Daimler are locked in battle in German courts over the level of royalties for key navigation and communications technologies and who should pay them.

The issues are relevant for the wider digital and electronics sectors and internet-connected devices in energy, health and smart manufacturing, prompting EU regulators to look into the matter.

read more

German cabinet approves legislation to ban glyphosate from 2024

Glyphosate, first developed by Bayer’s Monsanto under the Roundup brand, has generated intense global debate over its safety since a World Health Organization agency concluded in 2015 that it probably causes cancer.

While regulators worldwide have determined glyphosate to be safe, Bayer agreed in June to settle nearly 100,000 U.S. lawsuits for $10.9 billion, denying claims that Roundup caused cancer.

read more

Florida consumers ‘flabbergasted’ as property insurers push for double-digit rate hikes

Florida’s domestic property insurers reported a more than $1 billion underwriting loss for the first three quarters of 2020 and almost $500 million in negative net income, according to the Florida Office of Insurance Regulation.

Florida’s domestic property insurers reported a more than $1 billion underwriting loss for the first three quarters of 2020 and almost $500 million in negative net income, according to the Florida Office of Insurance Regulation.

Florida insurers requested 105 rate increases during the first ten months of 2020, Altmaier said. More than half of the increases that regulators approved were greater than 10%.

Florida insurers requested 105 rate increases during the first ten months of 2020, Altmaier said. More than half of the increases that regulators approved were greater than 10%.

Florida insurers requested 105 rate increases during the first ten months of 2020, Altmaier said. More than half of the increases that regulators approved were greater than 10%.
The rate increases in Florida, the third-largest property insurance market among U.S. states, are the highest in memory, according to some insurance agents and residents. One danger, they say, is that the new rates could make owning a home in Florida unaffordable.

Florida’s property insurance market, which collected $56.6 billion in premiums during 2019, is unique and covers complex risks including devastating hurricanes and the impact of climate change.

read more

Irish central bank: We’ll act against insurers who don’t pay COVID-19 claims

Ireland’s High Court ruled on Feb. 5 that four publicans insured by FBD were entitled to be indemnified for losses under lockdown-linked claims, in a case that could have implications for over 1,000 similar contracts for FBD alone Gabriel Makhlouf said a number of insurers had already accepted and begun settling business-interruption claims as a before the court judgment in Dublin, as well as one in London.

read more

Creation of health ID under NDHM not mandatory for citizens: Ashwini Choubey

On August 15, 2020, Prime Minister Narendra Modi announced the NDHM, following which NDHM pilot mode was launched in the Union Territories of Chandigarh, Ladakh, Dadra and Nagar Haveli and Daman and Diu, Puducherry, Andaman and Nicobar Islands and Lakshadweep. The budget allocated for the NDHM for 2020-21 is Rs 30 crore, Choubey said in a written reply to a question in the Lok Sabha.

read more

ICICI Lombard launches “Corporate India Risk Index”

Bhargav Dasgupta, MD & CEO, ICICI Lombard said “Effective risk management starts with having quantifiable risk measurement tools. As we embrace risk mitigation practices, we must have these basic building blocks in place.This initiative will empower India Inc. to gauge risks better, understand their level of preparedness and accordingly adopt effective risk management practices.” 

read more