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Catastrophe bonds dodge worst-case scenario after Milton
Overall, Icosa Investments AG now sees insured losses in the range...
Allahabad HC grants over Rs 23 lakh as enhanced compensation to accident victim
"The Claims Tribunal had also failed to consider that on account of...
Boeing 737 MAX: Company finds ‘new minor’ software glitch in grounded aircraft
Boeing is rewriting software that played a role in crashes five months apart in Indonesia and Ethiopia that killed 346 people and led regulators to ground the plane worldwide in March 2019.
India plans new law to protect foreign investment – sources
The latest example of a contract wrangle is a dispute between the Andhra Pradesh state government in southern India and renewable energy companies. The state has been curtailing power procurement from the companies, citing high prices, and has pushed to renegotiate its supply contracts with them.
RBI issues new debit and credit card rules to improve security
RBI has directed banks and other card issuers to enable cards only for use at contact based points i.e. ATMs and Point of Sale (Pos) devices within India at the time of issue of the cards. This means that when a card is issued it will, by default, only be usable to physically swipe at a PoS or at a ATM. It would not be enabled for use online or for contact-less transactions.
WEF sounds alarms about Climate Change risks
The WEF report also called on policy makers and firms to match targets for protecting the climate with ones that boost economies, and for companies to adjust to science-based targets now in order to avoid massive future losses.
Kumar Mangalam Birla says ‘slowbalization’ will define decade
He also had words of admiration for Greta Thunberg, the high-profile teen activist who has became the face of a global movement against climate change. Companies are now forced to think about generating revenue while ensuring sustainability, Birla said.
Women win $13M in lawsuit against porn site in California
The judge also ordered the GirlsDoPorn website owners to prominently post in recruitment ads that videos would go on the internet. Women who sign up to make the videos must get copies of the legal agreement ahead of time and give permission before their names or personal information are used.
Re/insurers remain on alert as U.S.,Iran signal desire to avoid further conflict
The Joint War Committee (JWC), which is comprised of underwriting representatives from Lloyd’s and IUA company markets, has also said that currently, there is no dramatic change to the strategic maritime picture in light of elevated tensions between the U.S. and Iran
Govt to tweak bill to regulate digital media to ease burden on tech firms
India’s IT ministry has previously said stricter regulations were necessary to safeguard users and the nation’s security as the Internet has emerged as a “potent tool to cause unimaginable disruption to the democratic polity”.
British regulator warns insurance industry to stamp out bad behavior – or else
“A senior manager’s failure to take reasonable steps to address non-financial misconduct could lead us to determine that they are not fit and proper,” Jonathan Davidson, the Financial Conduct Authority’s Executive Director of Supervision, Retail and Authorisations said in a letter on Monday
Peak Re successfully places $ 77mn Lion Rock Re II Sidecar
the confidence shown in Lion Rock Re II really shows that Hong Kong can become a hub for ILS investors. Lion Rock Re II will allow us to continue our drive towards modernising reinsurance and bringing more communities under the umbrella of protection that insurance and reinsurance provides,” said Franz Josef Hahn, Chief Executive Officer of Peak Re.