The industry group goes on to state that operating systems embedded...
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Home Ministry seeks reports on series of bomb hoax calls to airlines
In the last 48 hours, atleast 13 bomb threats have been received by...
Meta to be sued as US states’ claims it hooked kids on platforms
The attorneys general have alleged that despite research showing...
Pension insurance deals boost UK company shares by up to 3%,says report
Two-thirds of Britain’s company pension schemes are in deficit, following years of low interest rates which have slashed their investment income.
So-called bulk annuity deals enable companies to rid their balance sheets of the pension funds, which can be a deterrent to merger activity, but many companies cannot afford them.
Insurers cite Swedish example in bid to dodge Covid-19 biz income payouts
The court case is one of a number of battles across the world, where insurers and clients are fighting over whether coverage extends to measures taken by governments to halt the spread of coronavirus. In France, AXA SA was ordered by a Paris court last month to compensate a restaurant owner for two months of virus-related losses.
Trump administration to propose rolling back protections for big tech
Trump wants to “remove or change” a provision of a law known as Section 230. Under the 1996 Communications Decency Act, Section 230 does not generally hold platforms responsible for what their users post and allows them to moderate the content of their sites as they see fit.The Justice Department plans to make a legislative proposal that Congress would have to pass, according to the Wall Street Journal, which first reported the proposal.
Japanese researchers confirm coronavirus testing in sewers as possible outbreak warning system
“Sewage testing is used as an early warning system to alert people about (possibly unnoticed) ongoing community transmission,” said Yuki Furuse, a Kyoto University professor who wasn’t directly involved in the study.
“India will be the 2nd largest infra investment market,to account for 8% of all emerging market spend”
•The sigma estimates a total premium opportunity of more than USD 50 billion over the next 10 years,based on projected levels of investment across the largest seven emerging markets (Brazil, China, India, Indonesia, Mexico, Russia, and Thailand).
• There will be strong growth in investment in renewable energy, smart and resilient infrastructure
• Infrastructure in emerging markets represents an annual USD 920 billion investment opportunity for institutional investors,including insurers
• Infrastructure-related insurance premiums to exceed USD 50 billion over 10 years, mostly from engineering, property and energy
U.S.based RIMS and Prudent Insurance Brokers collaborate to support India’s risk management community
“For organizations to remain resilient, they must be proactive and ready to adapt to rapid changes in our business and social environments,For risk professionals, education and knowledge sharing are critical components of strong risk programs and decision-making. RIMS is proud to continue to support India’s growing risk management community and, with PIBL, deliver a wide-range of learning experiences”, ” said RIMS CEO Mary Roth. .
Coronavirus turmoil fuels the rise of AI-powered companies
As many companies discovered during the initial wave of lockdowns, any break in this complex and elongated supply chain can cause production interruptions. Still smarting under the shock, they are now scrambling for tools to protect operations from future disruptions.
Disaster Financing:Nagaland,Swiss Re&Tata AIG strike India’s first-ever parametric deal,to kick in against excess rainfall
In addition to protecting the State treasury’s balance sheet, the transaction will enable Nagaland to build fiscal resilience against natural disasters.The parametric structure is designed to cover the entire state of Nagaland through six distinct zones, with a stepped payout feature to ensure funds are allocated where losses occur and in proportion to the amount of recorded rainfall, to mirror its impact. It based on a geospatially gridded dataset whose precipitation levels are derived from satellite observations .
G Satish Raju, Swiss Re said, “This is Swiss Re’s first disaster risk financing arrangement in India. Nagaland is a first mover and this transaction marks a positive step towards strengthening India’s resilience to natural disasters. With tropical cyclones Amphan and NIsarga hitting the eastern and Western coats of India in early 2020, the transaction serves as a timely model for other states looking to similar innovative re/insurance solutions that help protect their significant natural catastrophe exposures.”
U.S. insurers use lofty estimates to beat back coronavirus claims
The industry has warned it could cost them $255 billion to $431 billion a month if they are required, as some states are proposing, to compensate firms for income lost and expenses owed due to virus-led shutdowns, an amount it says would make insurers insolvent.
Job loss most severe immediate impact of COVID-19: Survey
The preliminary results showed that loss of employment was considered as the most severe immediate impact of the crisis while lower economic growth and rise in inequality were probable long-term impact.
As per the survey, the immediate policy priorities suggested were protection of workers and families, short-term employment creation and income transfers to affected workers.