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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.
SIAC order on Rs 24,713 cr RIL deal not enforceable, binding: Future Retail
Last Sunday, the SIAC passing an interim award in favour of Amazon had asked the Future group to put the deal on hold and said that the deal cannot go through until it finally decides the matter.
“The EA order is not enforceable under the provisions of the Arbitration and Conciliation Act, 1996 and is not binding on FRL. Any attempt on the part of Amazon to enforce the EA order shall be resisted by FRL to the fullest extent available under Indian law. FRL is also in the process of taking appropriate legal action to protect its rights,” the Future group firm said.
Ransomware surge imperils hospitals as pandemic intensifies
Hackers are aware that “health care is the most likely to pay the ransom because their services are critical,” dos Santos said.
“Stopping services means that people will literally be dying.”
For hospitals unable or willing to pay, “it would mean going back to pen and paper, which can cause huge slowdowns,” he added.
2nd study testing a COVID-19 antibody drug has a setback
Earlier this month, a different group of monitors recommended pausing enrollment in a U.S. National Institutes of Health study testing an Eli Lilly antibody drug to investigate a possible safety issue in hospitalized patients.
Cyberattacks hit over 1,000 schools, colleges between June-Sept globally
“While online teaching and learning is a crucial part of the new normal, it is also important for students and teachers to act mindfully before, during and post the online classes,” Murali Urs, Country Manager-India, Barracuda Networks, said in a statement.