Although batteries are a critical component in electric cars and...
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Thousands of fires are burning in the drought-wracked Amazon
Climatologists have warned for decades that events like this year’s...
ICAI opposes proposed changes by NFRA in auditor responsibility for firms
The NFRA’s proposed change stems from the alleged audit failures at...
RBI holds rates steady, raise deposit insurance rate marginally
The RBI has also decided to increase the insurance cost of bank deposits as the cover will be increased to Rs 5 lakh from Rs 1 lakh which was earlier announced by finance minister Nirmala Sitaraman in Budget 2020. The cost will be increased by 2 paise from 10 paise to 12 paise for a deposit of Rs 100 which wouldn’t increase the costs of the bank
AXA XL creates role of Global Chief Underwriting Officer, Cyber
“The cyber insurance market is growing exponentially. Recent reports predict the Global Cyber Insurance Market to reach $21.4 billion in the next five years,”
Twitter says state-backed actors may have accessed users’ phone numbers
Tech publication TechCrunch reported https://techcrunch.com/2019/12/24/twitter-android-bug-phone-numbers on Dec. 24 that a security researcher, Ibrahim Balic, had managed to match 17 million phone numbers to specific Twitter user accounts by exploiting a flaw in the contacts feature of its Android app. TechCrunch said it was able to identify a senior Israeli politician by matching a phone number through the tool.
Aon acquires Canadian cyber security firm Cytelligence Inc
Global cyber insurance premiums are expected to grow from $4 billion in 2018 to $20 billion by 2025. According to Aon’s 2019 Global Risk Management Survey, cyber-attacks were identified as a top ten risk facing organizations and is predicted to be one of the top three risks for organizations in 2022.
Coronavirus outbreak: IndiGo, Air India suspend flights between India and China
In India, many people are under observation in hospitals for suspected coronavirus infection including in Maharashtra, Goa, Odisha and the national capital. People returning to the country after visiting China are being regularly screened for the deadly virus at airports across the country.
Many global firms face high Coronavirus costs due to insurance exclusions
Companies buy business interruption policies with their property insurance to cover loss of revenue if they are forced to close temporarily, but those policies are also likely to exclude communicable diseases, an underwriter in London and insurance executives said.
Sitharaman may announce the merger of 3 PSU gen insurers in Budget 2020
“Though, the roadmap for the merger of the three companies are yet to be made public by the ministry of finance(MoF), it seems, it will be announced in the next week Budget. The actual process of merger may take one year after the Budgetary announcement on Feb 1,’’ said MoF sources adding that the way, MoF sought approvals of the boards of three companies hurriedly, indicate some major announcement about the merger in the Budget 2020.
Epidemics and equities: What the coronavirous means for markets
For global corporations, Wuhan is an important hub. Of about 2,000 cities in China with factories and other facilities in Bloomberg’s supply chain database, the city ranks 13th, with about 500 facilities. The province of Hubei has 1,016, making it seventh of 32 such jurisdictions. US-based companies have 44 facilities there, and European ones about 40, the data show. Many plants are in the auto and transportation industries, and big names include PepsiCo Inc. and Siemens AG.
Saudi prince may have sent spyware via Whatsapp to hack Bezos’ phone: Probe
The technical experts hired by Bezos concluded “with medium to high confidence that Bezos’ iPhone was compromised via malware sent from a WhatsApp account used by Saudi Crown Prince Mohamed bin Salman,” said the report by FTI Consulting, first reported by the online news site Vice.
Real-time payments platforms have increased fraud losses for 4 out of 5 APAC Banks:Survey
“While the convenience of real-time payments is great news for customers, increasingly, banks have zero time to clear a transaction or payment. AI can’t slow down the clock, but it can help create systems that are radically quicker to recognize a transaction that smells likely to be fraudulent,” said Dan McConaghy, president of FICO in Asia Pacific.
“Banks will need to move beyond passwords and OTPs and add biometrics, device telemetry and customer behavior analytics to keep up with the changing payments landscape,” he said.