The startup earlier in the day was also hit by outages on its...
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Auditors get tougher guidelines on judging firms’ environmental claims
The move by the International Auditing and Assurance Standards...
Generali Global Corporate & Commercial forays into India, to deliver customised insurance solutions to corporates
Rob Leonardi, Regional Officer, Generali Asia, said: “India has...
Stand-alone cyber insurance products to benefit both insurers and policyholders:S&P
Although cyber attacks and the resulting financial losses are on the rise, the cyber insurance market is underdeveloped. Cyber cover is often bundled into existing property or liability insurance policies, and in some cases, the policies do not explicitly include or exclude cyber cover at all. This gives rise to “silent cyber”, or the risk to insurers of losses from cyber-related claims on existing property or liability insurance policies.
India’s Supreme Court says favours controls on video streaming services
“We are of the view there should be some screening of these types (of content). What they are showing? They are showing pornography also,” Supreme Court Justice Ashok Bhushan said.
Traditional film viewing in India, home to the thriving Bollywood industry, has changed as fewer people go to cinema halls and web series have become common, Bhushan said.
Generali CEO says insurers can’t handle pandemic risk alone
“When the risk becomes systemic it is no longer insurable and obviously we need to use public money,” he said.
Donnet said the European Union and member states should work with the insurance and reinsurance industries to improve protection across the bloc.
45% of Indian online users hit by local threats in 2020
“The threat landscape in India, as well as in the APAC region, has been constantly evolving and the threats are becoming more and more sophisticated and targeted in nature,” said Saurabh Sharma, Senior Security Researcher (GReAT), Kaspersky (APAC).
Aon and Praedicat to address insurers’ emerging risks in casualty sector with specialist solutions
New collaboration to develop a range of specialist liability reinsurance solutions that address product liability risks including nanomaterials and 5G
Aon to collaborate with Nayms and Relm to launch cryptocurrency pilot
Dan Roberts, CEO at Nayms, said: “As the digital asset space soars to $1 trillion, the need for appropriate insurance protection to scale alongside that growth will be vital for the sustainability of this innovative market. By working with Aon and Relm, we are enabling the collaboration between technology, regulation and the existing insurance marketplace, bringing a robust solution for the cover of digital asset risk to the market.”
Insurer Hiscox counts cost of virus claims, ‘brand damage’ after court case
“Hiscox has undoubtedly suffered some brand damage this year,” the company said
The company lost a high-profile court case in January over the policy wordings and has reserved $475 million for pandemic-linked claims.
Event cancellation and abandonment is expected to account for the biggest share of claims, followed by business interruption, the company said.
Doctor appears in court video call while performing surgery
The judge said he didn’t think it was appropriate to conduct trial under the circumstances. He told Green he’d rather set a new date for trial “when you’re not actively involved or participating and attending to the needs of a patient.”
Citi’s $900 million mistake prompts banks to seek new safeguards
After Citigroup inadvertently wired its own funds to Revlon lenders while serving as an agent and lost its fight to recover some of the money, it was forced to restate earnings after writing down the part of the loan it now owns. Reducing such risks for future deals makes sense, said Justin Forlenza, a senior covenant analyst at Covenant Review.
After last month’s surprise court ruling that let certain Revlon creditors keep $500 million of the mistaken transfer, banks began inserting new language into loan deals that would require investors to return the money if such an error occurred again. The provisions, which were in the works before the decision, aim to strengthen the hand of administrative agents that oversee interest distributions and repayment schedules.
After last month’s surprise court ruling that let certain Revlon creditors keep $500 million of the mistaken transfer, banks began inserting new language into loan deals that would require investors to return the money if such an error occurred again. The provisions, which were in the works before the decision, aim to strengthen the hand of administrative agents that oversee interest distributions and repayment schedules.
After last month’s surprise court ruling that let certain Revlon creditors keep $500 million of the mistaken transfer, banks began inserting new language into loan deals that would require investors to return the money if such an error occurred again. The provisions, which were in the works before the decision, aim to strengthen the hand of administrative agents that oversee interest distributions and repayment schedules.
After last month’s surprise court ruling that let certain Revlon creditors keep $500 million of the mistaken transfer, banks began inserting new language into loan deals that would require investors to return the money if such an error occurred again. The provisions, which were in the works before the decision, aim to strengthen the hand of administrative agents that oversee interest distributions and repayment schedules.
China declares war on cryptocurrency mining, stirring wider fear
China’s Inner Mongolia, the autonomous region, a favourite among the industry because of its cheap power, also banned new digital coin projects, according to a draft plan posted on the Inner Mongolia Development and Reform Commission’s website February 25.
The aim is to constrain growth in energy consumption to about 1.9 per cent in 2021.