Insurance premium growth forecast in real terms...
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RBI cautions public about ‘deepfake’ video of governor being circulated on social media
In a statement Tuesday, RBI said it has come to their notice that...
Centre issues advisory on air pollution
Air quality has worsened in several cities, including Mumbai,...
Infosys receives RIMS global ERM Award of Distinction
“We operate in a fast-evolving world, where we and our stakeholders find ourselves in the midst of disruption.Success in times like these require us to take calculated risks so we can move forward in a differentiated and progressive manner. Our enterprise risk management program has evolved to become a strong framework to manage potential threats to our objectives in a proactive manner, and enhance our performance,” said U B Pravin, Member of Board & Chief Operating Officer, Infosys Limited
Poor public risk management led to higher Covid-19 Pandemic losses and P&C market exposure:Denis Kessler
Denis Kessler, chairman and chief executive officer of SCOR said that this is the biggest surprise of the crisis because it’s the opposite of what, broadly speaking, had been anticipated and modelled for pandemic risk. While the industry was certainly not unaware of pandemic threat, it failed to accurately anticipate the lines it would impact most severely
Govt issues ordnance to amend arbitration law
As per the latest amendment brought through the ordinance, if the award is being given on the basis of an agreement based on fraud or corruption, then the court will not impose a condition to stay the award and grant an unconditional stay during the pendency of the appeal if it has been challenged under Section 34 of the arbitration law.
Pilot Unions, crash families seek revisions to 737 Max training
A group of dozens of family members and friends of the 157 people who died on an Ethiopian Airlines crash on March 10, 2019, go further, seeking additional design changes and publication of a more detailed training outline.
“The FAA’s proposed update to the 737 Max pilot training requirements is inadequate to rectify Boeing’s history of 737 Max-related failures and insufficient to prepare pilots to safely fly the airplane,” the family group said in its comments, also posted on Monday.
There would be significant cyber losses in the next 10 years: Mumenthaler
`There are certain tail risks that are too big, in my view, for the insurance industry to carry. We can carry a certain amount of risk, and we are active in the market, but I think the capacity will run out within the next three years.The shadow of cyber risk still looms large, with bad actors or rogue states capable of launching damaging cyber attacks that could even result in human losses, given our dependence on technology. It’s not a random event. It’s perpetuated by people and on the aggregation side it’s a real challenge,” he explained…
Ransomware attacks surge 40% globally in Q3: Report
While sensors in India, the UK and Germany recorded decreases, the US saw a staggering 145.2 million ransomware hits in Q3 — a 139 per cent year-over-year increase, said the report.
Hackers attack 100 key people to collect intelligence: Microsoft
As always, enabling multi-factor authentication across both business and personal email accounts will successfully thwart most credential harvesting attacks like these, Microsoft said.
UK watchdog fines Marriott 18.4mn pounds over data breach
The personal data involved differed between individuals but may have included names, email addresses, phone numbers, unencrypted passport numbers, arrival/departure information, guests’ VIP status and loyalty programme membership number.
Singapore’s Dy PM launches Global Asia Insurance Partnership,to incubate new risk financing solutions for emerging risks in Asia
“Through GAIP, we aim to produce actionable research insights, develop policy recommendations, There are many structural protection gaps facing Asia, but pandemic risk and climate risk are two critical areas that demand our immediate and collective attention,.” Heng Swee Keat Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance,Singapore, said adding that GAIP is expected to commence work in January next year.
Bumper harvests, healthy stockpiles but coronavirus world is undernourished
More worrying is that while food production and stocks have remained sufficient, household budgets haven’t. Even before the pandemic, the world was hungry. A report published in July by the United Nations’s Food and Agriculture Organization and others estimated almost 690 million people were underfed in 2019 — up by 10 million from the previous year, and by nearly 60 million in five years. Close to 750 million of us, or nearly one in 10, didn’t have reliable access to sustenance.