Max Life Insurance Company has announced a strategic partnership...
Category:
Risk Management
Latest
To bring down deaths safety must get highest priority while constructing roads Gadkari
Nitin Gadkari,Union Minister of Road Transport and Highways "Every...
Spain floods to trigger total insurance losses in excess of $3.8 billion, will have limited impact on local re/insurers
Another rating agency S&P has said the catastrophic flash...
Facebook’s dilemma: How to police claims about unproven COVID-19 vaccines
Determining what constitutes a false claim regarding the COVID-19 shot is much harder than fact-checking a claim about an established vaccine with a proven safety record, Facebook fact-checkers told Reuters.
“There is a lot of content that we see and we don’t even know what to do with it,” echoed Emmanuel Vincent, founder of Science Feedback, another Facebook fact-checking partner, who said the number of vaccines in development made it difficult to debunk claims about how a shot would work.
AI Express plane overshoots runway at Kozhikode airport,broken into 2 pieces,17 dead
.There were 191 passengers, including crew members on board the flight and both the pilots along with 15 other persons have died and100 passengers have been injured.
Mumbai based state owned New India Assurance(NIA) is the primary insurer of Air India and the total cover for the airlines is heavily reinsured, upto almost 95 per cent, in the London market.
“There will be major hull claims as the aircraft is completely damaged. There will be also claims on account of the death of two pilots and and other passengers ,” said insurnace industry sources.
AIE flight crash:Govt announces Rs 10 lakh interim relief for each of the deceased, Rs 2 lakh for the seriously injured,Death toll rises to 18
Seventeen people were killed and scores injured when the AIEflight from Dubai with 190 on board overshot the table toprunway while landing in heavy rains and fell into a valley 35 feet below and broke into two portions on Friday night.
The pilot-in-command Captain Deepak Sathe and his co- pilot Akhilesh Kumar were among those who lost their lives.
Civil Aviation Minister Hardeep Singh Puri said authorities managed to rescue most of the passengers because the plane did not catch fire while descending the slope at the end of the table-top runway. Such runways are located at an altitude and have steep drops at one or both ends.
Modern driver-assistance technology ‘far from reliable’ – AAA study
Automakers are accelerating the automation of routine driving tasks including cruising on a highway and stop-and-go traffic. The options offer a new source of profit for automakers as more consumers buy or lease vehicles with Advanced Driver Assistance Systems.
Some of the systems, such as automatic emergency braking, have proven safety benefits, while others, including pedestrian detection, are still in their infancy.
Munich Re hit with Covid-19 losses of $832 million in Q2
The company did slightly raise its outlook for premium income to 54 billion euros, from the previous 52 billion euros.
That followed an increase in premium volume in the July round of reinsurance renewals by 8.3%, with prices rising 2.8%.
Container ships sent to Tripoli to keep Lebanon supply lines running
Ship insurer Gard said: “According to our correspondents, the port of Beirut is closed for a minimum period of 14 days which could be extended until port facilities have been restored.”
The International Transport Workers’ Federation, which represents seafarers, quoted its representatives in Lebanon as saying at least 12 dockers and seven separate seafarers had been killed in the port. The figure could not be independently confirmed.
Lebanon, which imports almost all it uses, relies on container ships to bring in everything from refrigerated food cargoes to clothing and other consumer goods.
There is no firm date for Beirut port to re-open, and this is a strain on supply chains.
Robots running the industrial world are open to cyber attacks
Robots are often connected to networks and run via software, according to the report, and previously unknown vulnerabilities could allow hackers to hide malicious code in them and other automated, programmable manufacturing machines.
The researcher found flaws in software produced and distributed by the Swedish-Swiss multinational ABB Ltd, one among world’s largest industrial robot maker. They also found other vulnerabilities in one of industry’s most popular open-source software called “Robot Operating System Industrial”, or Ros-I, adapted for ABB and for Kuka AG, a German robot maker.
Beirut devastating explosion to weigh on Lebanon’s challenged insurance sector:AM Best
Insurance penetration rates in Lebanon generally are low and property insurance represents only a small fraction of the Lebanese insurance industry, which is dominated by three segments: life, medical and motor. Based on the latest available data, together these segments accounted for almost 85% of Lebanon’s gross written premium (GWP) in 2018.
India needs to look beyond what rating agencies think, says ex-RBI governor
“What India should focus on at this point is protecting its economic capabilities, so that when it has dealt with the virus it can go resume activity in a reasonable way. That should be the focus.And if it does that, there is no reason why the rating agencies will not see that as an appropriate policy,” Former Reserve Bank of India governor Raghuram Rajan said.
Construction sector sees significant increase in insurance premiums:Mactavish
Bruce Hepburn, CEO, Mactavish said: “Some of these problems are also affecting other sectors, but there are two factors that make them particularly challenging for construction companies. The first is the difficulties posed to the sector by the end of lockdown and return to work,which are far from straightforward on active construction sites. The second is the way in which commercial contracts create a complex web of liabilities and obligations across contractors, sub-contractors and other elements of the supply chain.”