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Commerce secretary meets other department officials to discuss trade finance issues of exporters
Sunil Barthwal, Commerce Secretary The issues which figured in the...
Star Health says cyberhacker demanded $68k ransom after leaking its data
Star, which has previously said it is a "victim of a targeted...
IOC seeks insurance compensation for delayed Tokyo Olympics
An “open discussion” is under way with insurance brokers, the IOC’s Olympic Games operations director Pierre Ducrey said Thursday. The aim is “to try and find the right level of compensation to help us bear the cost of having to wait another year,” Ducrey said.
The IOC pays for insurance against the cancellation of an Olympics but it has been unclear if its policy covers the one-year postponement forced by the coronavirus pandemic.
Endeavour to cut accidents, deaths on roads by 25% by March next year: Gadkari
The Ministry of Road Transport and Highways has identified over 5,000 black spots, and the process for their rectification including temporary and permanent measures is being carried out on urgent basis, he said.
Standard Operating Procedures (SOPs) regarding procedure for rectification of black spots for taking up short-term and long-term permanent measures have already been issued, as per the ministry and till date, temporary measures on 1,739 newly identified black spots and permanent measures on 840 newly identified black spots have already been taken.
UK offers 10 billion pounds in guarantees for trade credit insurance
Several countries including France, Germany and the Netherlands have introduced similar schemes, and Britain has also expanded its export credit guarantee scheme, which typically supports trade in developing markets, to cover developed markets.
COVID-19 Pandemic: Emerging risks and trends
•Intergenerational tensions, supply chain disruptions and the fragility of public healthcare are among the risks and trends amplified by the COVID-19 pandemic, 2020,
•The coronavirus outbreak showed that societies weren’t sufficiently prepared, and that broad risk awareness is crucial for proper risk management;,
•The current crisis shouldn’t overshadow the need for the world to transition to a more sustainable economy and a low-carbon future, and the insurance industry can play a pivotal role in this
Self-driving cars could only prevent a third of U.S. crashes – study
Companies developing self-driving vehicles, including traditional automakers and technology companies, have repeatedly positioned fully automated driving as a tool to drastically reduce road deaths by taking the human driver out of the equation.But the IIHS study outlined a more nuanced picture of human driver error, showing that not all mistakes can be eliminated by camera, radar and other sensor-based driverless technology.
Workplace and supply chain risks from COVID-19 having significant impact on power sector
Graham Knight, Head of Global Natural Resources, Willis Towers Watson, said: “In these unprecedented and uncertain times, the issue of COVID-19 remained uppermost in all our minds as the power industry and their stakeholders begin to analyse the effects on their balance sheets and on their overall risk landscape. Willis Towers Watson is a global leader when it comes to helping power companies address these growing regulatory, investor, employee and operating pressures through improved offerings that combine the analytics, advice and transactional expertise from across the company.”
India steps up efforts to curb locust infestation
The government also plans to buy five helicopter-mounted spray systems to curb the fast-spreading swarms by mid-June when monsoon rains help farmers boost rice, cane, corn, cotton and soybean sowing, according to the sources, who are directly involved in formulating plans to tackle the scourge.
Insurers’ business interruption U-turn could lead to significant uptake in product,says GlobalData
Ben Carey-Evans, Insurance Analyst at GlobalData, a leading data and analytics company, said “This is a significant turnaround for the industry, which had up to this point been stating that claims were not valid because of pandemic exclusions.In reality, there was no positive outlook for insurers in this dispute. Paying out will cost millions in claims as businesses around the country have been shut down or severely restricted during lockdown. However, not paying out would also have led to reduced consumer trust, with many business owners likely to avoid taking out any form of business interruption insurance in the future.
Google sued by Arizona over ‘Deceptive’ location tracking
The suit filed by Attorney General Mark Brnovich stemmed from an investigation that began after The Associated Press reported on Google’s location tracking in 2018.The suit alleges Google violated the Arizona Consumer Fraud Act and it seeks to claw back profits from the tracking.
“Every company has a responsibility to be truthful to consumers,” Brnovich said. “You can’t deceive them, you can’t make misrepresentations.”
Mumbai gets first severe cyclone alert in 129 yrs
IMD’s cyclone track shows that Nisarga will cross very close to the Mumbai coast while entering the land. Maharashtra and Gujarat are on pre-cyclone alert as very heavy to extremely heavy rainfall is expected in parts of the states on June 3 and June 4. Fishermen are advised not to venture into the sea for the next few days as it is expected to be very rough.