Category:

Risk Management

CCRIF pays Guatemala $3.6 mn under its excess rainfall parametric insurance policy

CCRIF currently has 22 member governments of which three are from Central America – Nicaragua, Panama, and Guatemala. Since its inception in 2007, CCRIF has made a total of 43 payouts for 21 events (earthquakes, tropical cyclones, and excess rainfall events) to 14 member governments totalling US$155.8 million. CCRIF’s payouts are made within 14 days of an event, allowing governments to begin to address their most pressing needs and close the liquidity gap.

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Companies hit with $1.8 billion cyber losses,six-fold increase in 2020 :Hiscox study

The highest recorded cyber loss was $87.9 million from a financial services firm in the UK.More than 6% of total respondents paid a ransom. Their combined losses came to $381 million.However the positive signs are that twice as many firms responded to a breach by adding new security and spending more on employee training.
There has been a shift in the hackers’ behaviour in the last six to 12 months as they focus more on industries such as energy and manufacturing.

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Govt warns against large-scale phishing attacks using COVID-19 as bait

‘Such emails are designed to drive recipients towards fake websites where they are deceived into downloading malicious files or entering personal and financial information,’ Indian Computer Emergency Response Team (CERT-In) said in its latest advisory dated June 19.

The advisory noted that the ‘malicious actors’ are claiming to have 2 million individual/citizen email IDs and are planning to send email with the subject line: free COVID-19 testing for all residents of Delhi, Mumbai, Hyderabad, Chennai and Ahmedabad in a bid to coax users to disclose personal information

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Coronavirus crisis: Centre extends Rs 50 lakh insurance cover for healthcare providers till September

The insurance cover despite being a well-publicised scheme, awareness of the same appearsto be little amongst some of State Nodal Agencies as a substantial number of some 75 claims, lodged till date are outside the purview of the policy on account of either the deceased not being a health worker or the deceased having died of other than corona related ailments, said Atul Sahay CMD, NIA.

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NGT imposes Rs 25 lakh fine on two units in Noida, says threat of irreversible damage to environment

“In view of depleting groundwater, there is a threat of irreversible damage to the acquifiers and salinity of the water. Moreover, it is leading to scarcity of drinking water, thereby depriving a section of the society from access to potable water which is already scarce. The rainwater harvesting systems have to be regularly maintained as per norms,” the bench said.

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