According to the National Register of Large Dams (NRLD-2023...
Category:
Risk Management
Latest
World can expect another zoonotic pandemic any day: Ex-WHO Director
The majority of newly emerging diseases are viral, and they are...
E-commerce to adopt Safety Pledge to protect online consumers on Dec 24
With India projected to have 500 million online shoppers by 2030...
From insurers to landlords, retailers to restaurants, COVID tarnsforms Economies
Like no other event in memory, the pandemic has upended economies in the United States and across the world — transforming how people work, travel, eat, shop and congregate. It has changed how students are educated, how people communicate, how households are entertained and which industries, geographic areas and categories of people will thrive and which will suffer.
It has widened a gap between educated and affluent people who can work from home and the less fortunate — people in lower-income households without college educations or high skills who depend solely on wages rather than stock or home equity gains — who now stand to be left further behind. And it’s forced many working mothers to quit their jobs for lack of child care.
Virus spread like wild fire over ineffective policy implementation: SC
The bench, also comprising Justices R S Reddy and M R Shah, said that frontline health care workers including doctors and nurses are already exhausted physically and mentally due to tireless work for eight months and some mechanism may be needed to give them intermittent rest.
US nuclear weapons agency hacked in massive cybersecurity breach
The attack on Department of Energy has affirmed that the hackers were able to access the networks of the US national security enterprise.
The hackers are believed to have gained access to the federal agencies’ networks by compromising the software company SolarWinds, which sells IT management products to hundreds of governments and private-sector clients, POLITICO opined.
NGT rejects MP govt”s plea seeking extension of time for compliance of waste management directions
“They are to enforce the mandate of law laid down under the Water (Prevention & Control of Pollution) Act, 1974, the Air (Prevention & Control of Pollution) Act, 1981 and Environment (Protection) Act, 1986 and Rules framed thereunder and binding directions of the Supreme Court,” the bench also comprising Justice S K Singh said.
Lloyd’s to end investment in coal-fired power plants, coal mines, oil sands by 2022
Bruce Carnegie-Brown, Chairman of Lloyd’s ESG committee and Chairman of Lloyd’s said: “This is the first time we have set an ESG strategy for the Lloyd’s market and it represents an important milestone on the journey towards building a more sustainable future. We have the opportunity to play our part in building back a braver, more resilient world. We recognise that the targets we are setting will be challenging, but will also bring new opportunities. We will work closely with our market and customers to help them plan for these changes as we implement a long-term managed programme towards sustainable, responsible underwriting.”
Insolvencies, Cyber Threats and ESG scrutiny drive 2021 risks for Directors and Officers: Allianz
“Many insurers are still digesting the effect of previous pricing inadequacy and exposure and loss trend increases from prior-year policies,” says Shanil Williams, Global Head of Financial Lines at AGCS.
“This is also at a time of great uncertainty around forward-looking exposure assessments, in particular the impact of Covid-19 on the economy in general and on specific industries. Combined with many ‘known unknowns’ like climate change, cyber risks or environmental, social or governance (ESG) factors, this has created a lot of nervousness in this sector. As a global D&O insurer, AGCS remains committed to working in partnership with our customers to ensure we have sustainable solutions for all parties involved,” said Williams.
Vaccinating the world means solving patent impasse; India has suggestion
The International Federation of Pharmaceutical Manufacturers and Associations argues that suspending patents is fraught with danger. If you waive patents this time round, you risk harming the whole medical infrastructure that allowed Covid vaccines to be developed in record time, said Director General Thomas Cueni.
Lloyd’s, Parsyl to insure emerging market COVID-19 vaccine rollout
The Global Health Risk Facility (GHRF), made up of 14 insurers and reinsurers, has been set up to address the challenges of transporting temperature-sensitive vaccines, and will be supported by $26.7 million in funding from the U.S International Development Finance Corporation, the companies said on Tuesday.
The DFC loan will be used to capitalize a new public-private Lloyd’s syndicate, which will start operating in January, and allow the GHRF to offer cost-effective insurance policies for shipments of vaccines and medical products to developing countries.
Syndicate 1796 is the first public-private partnership to address a global health emergency in Lloyd’s 330-year history, the companies said.
Airlines warned over safety as jets return from pandemic storage
Worried by IATA’s data, insurers are questioning airlines about whether they are doing extra pilot training to focus on landings, said Gary Moran, head of Asia aviation at insurance broker Aon PLC.
“They want to know about the circumstances of the training,” he said.
India is the world’s best market for portfolio disclosure, finds study
India and US earned top grades for their robust disclosure regimes across six categories including fees, transparency of fund holdings and issues such as conflicts of interest. The report covering 26 markets across North America, Europe, Asia and Africa singled out Australia as a notable laggard.