The minimum temperature in Oct also clocked 21.85 degrees Celsius...
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Toxic waste that set off global outcry seized by Albania
The shipments attracted international scrutiny because Thailand and...
India faces 24.7 pc GDP loss by 2070 due to climate change: ADB report
"India is reported to have the highest number of affected...
AIR Worldwide Releases updated Multiple Peril Crop Insurance Model for China
An outbreak of African swine fever—a highly infectious and deadly disease—started impacting pigs in China in 2018, resulting in a loss of half of China’s 400 million pigs, or 40% of the world’s total agricultural pig population, as of the first half of 2020.
“China is a leading global producer of wood and paper products; the country’s forests can be insured under the national crop insurance scheme and incur large losses not only from extreme weather but also fire, pests, and disease,In addition, livestock (including poultry) policies now make up about a quarter of agricultural premiums in the country and have a large potential for losses. To get a comprehensive view of agricultural risk in China, companies must consider the risk to crops, forests, and livestock,”said Yizhong Qu, assistant vice president, AIR Worldwide China.
Risk professionals face six challenges in addressing reputational risks:Airmic,RIMS Report
The six challenges are Unclear definition of reputation,Confusion on the categorization of risks to reputation,No commonly agreed upon, consistent measurement of the business impact from specific risks to reputation,No framework for linking the strategic, operational, and tactical aspects of reputational risk management,An absence of integrated ownership and accountability across organizations and Slow development of solutions for risk transfer including insurance.
The report states that risk professionals today are at a crossroads, where they can follow one of two paths: the first, where they have the responsibility but no influence and control; or the second, where they can contribute value to the organization by leading implementation of a structured, data-driven and systematic approach to reputational risk that draws the whole organization together around a common framework
Toyota Insurance Services to join Swiss Re ADAS risk platform
The ADAS risk score was launched by Swiss Re and BMW Group in 2019 with the aim of solving this issue and developing a vehicle-specific insurance rating that primary insurers worldwide can use to calculate insurance premiums, taking safety-relevant driver assistance systems into account.
On the journey towards autonomous vehicles, cars are increasingly equipped with advanced driving assistance systems (ADAS) that actively support the driver in avoiding accidents. Insurers face the challenge of knowing which ADAS features are installed in a vehicle, what their impact on safety is, and to what extent drivers use them.
Carbon emissions of richest 1% more than double the emissions of the poorest half of humanity:Oxfam
The report assesses the consumption emissions of different income groups between 1990 and 2015 – 25 years when humanity doubled the amount of carbon dioxide in the atmosphere. It found:
The richest 10 percent accounted for over half (52 percent) of the emissions added to the atmosphere between 1990 and 2015. The richest one percent were responsible for 15 percent of emissions during this time – more than all the citizens of the EU and more than twice that of the poorest half of humanity (7 percent).
JB Boda Re/insurance Brokers and RIMS join hands to promote risk management in India
Harnessing the insight and expertise from RIMS’ global risk management community and J.B. Boda’s vast network, the parties aim to produce powerful and thought-leading content that addresses current events, new risks, new challenges, as well as best practices and opportunities for organizations to maximize their risk management capabilities.
PSBs report frauds worth over Rs 19,964 crore in the first quarter of FY21, says RBI
Of the 12 PSBs, SBI reported the maximum 2,050 fraud cases involving Rs 2,325.88 crore during April-June 2020.
Bank of India took the biggest hit in terms of valuation at Rs 5,124.87 crore in 47 cases, followed by Canara Bank Rs 3,885.26 crore in 33 cases, Bank of Baroda Rs 2,842.94 crore in 60 cases, Indian Bank Rs 1,469.79 crore in 45 cases, Indian Overseas Bank Rs 1,207.65 crore in 37 cases and Bank of Maharashtra Rs 1,140.37 crore in 9 cases
HSBC HK shares drop to lowest since 1995, StanChart falls after ‘FinCEN’ leak
HSBC shares in Hong Kong fell as much as 4.4 per cent to HK$29.60 on Monday morning, the lowest since May 1995, while StanChart dropped as much as 3.8 per cent to HK$35.80, the lowest since May 25 this year.
The revelations underscore challenges for regulatory and financial institutions trying to stop the flow of dirty money despite billions of dollars of investments and penalties imposed on banks in the past decade.
World’s top companies urge action on nature loss ahead of U.N. talks
“Healthy societies, resilient economies and thriving businesses rely on nature. Governments must adopt policies now to reverse nature loss in this decade,” the companies said in a statement.
Others to sign included IKEA, Unilever and AXA .
Business for Nature, the coalition which organised the statement, said it was the first time so many companies had issued a joint call emphasising the crucial role healthy ecosystems play in human well-being.
Iranian hackers found way into Encrypted Apps, Researchers say
t the hackers have successfully infiltrated what were thought to be secure mobile phones and computers belonging to the targets, overcoming obstacles created by encrypted applications such as Telegram and, according to Miaan, even gaining access to information on WhatsApp. Both are popular messaging tools in Iran. The hackers also have created malware disguised as Android applications, the reports said.
Poultry farms cause pollution, can’t be exempted from regulation: NGT
“Responsibilities of the states to the environment are by Public Trust Doctrine. The Water Act, the Air Act, and the Environment (Protection) Act have been enacted in the wake of international conventions and override all other legislations.They create an obligation on the regulatory authorities to enforce the environmental measures. There is no discretion to exempt the mandate of the Water Act for activities having the potential to cause water pollution,” the bench said.