Against the backdrop of the potential risk of a jammed or...
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NSE Clearing warns investors, clearing members against fake communication
These fake circulars and letters, featuring the unauthorized use of...
The dark side of technology: AI-driven cyberattacks call for upgraded security measures
In September 2024, insurer firm Star Health experienced a...
Pirates Hijack Fully Loaded Supertanker Off Nigeria, Kidnapping 19 Crew
The waters of the Gulf of Guinea have suffered from sporadic incidents of piracy for a few years, but an attack on a supertanker is a rare event. Nigeria suffered a spate of militancy that crippled its oil industry in 2016, but it rarely strayed into shipping.
Uber received 3,000 reports of sexual assault in U.S. in 2018
It said it received 235 reports of “non-consensual sexual penetration” last year and 280 of “attempted non-consensual sexual penetration” – nearly all filed by women. The remaining assault reports included incidents of unwanted kissing or touching of body parts.
Saudi Aramco pursues war cover after attacks – sources
Aramco, the world’s largest oil company, has been looking for cover from insurers including those based at Lloyd’s of London and elsewhere in the London market.Available insurance options range from cover against a terror attack or sabotage through to full coverage, which includes war or civil war, along with compensation for the cost of business
Over two-thirds of firms have suffered a political risk loss: Willis Towers Watson survey
Most respondents (71%) stated that the emphasis on political risk management at their company had increased since 2018, and nearly 40% felt that they were facing more pressure from investors regarding political risk management. The survey found that recent developments such as the China-US rivalry and the sanctions that have arisen as a result have made political risk more tangible.
Cabinet clears personal data protection bill
The Bill is likely to contain broad guidelines on collection, storage and processing of personal data, consent of individuals, penalties and compensation, code of conduct and an enforcement model.
IndiGo asks pilots to stop pushing Airbus engines to limit after shutdowns
All the budget airline’s A320neo aircraft now use a lower thrust setting following take off, according to a spokeswoman from IndiGo, which has suffered 13 engine shutdowns during ascents this year. The decision was taken “in order to make every possible effort to minimize exposure of engines,” she wrote in an email, adding that manufacturer Pratt & Whitney stated there’s no evidence of a connection between climbing procedure and engine incidents.
5 risk trends company directors and officers need to watch in 2020:Allianz
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• “Bad news” events, impact of climate change, bankruptcies and political challenges have increasing risk implications for directors and officers (D&Os)
• Growth of securities class actions and third party funding globally means litigation against companies and their D&Os is on the rise. US, Canada and Australia see highest activity but these trends are developing around the world
• Profitability of D&O insurance sector impacted in recent years due to increasing competition, growth in lawsuits and rising claims frequency and severity. Further volatility anticipated
Berkshire Hathaway launched Commercial Crime Insurance in Asia
“Corporate fraud is becoming increasingly sophisticated as technology advances at an exponential pace across the globe. Companies now face new threats and are tasked with protecting both traditional and digital assets,” said Scotland Walsh-Riddle, head of Executive & Professional Lines, BHSI Asia. “Our policy is important protection for a company’s balance sheet by both insuring against losses arising from a wide range of threats and providing support to investigate the cause of a loss.”
MS Amlin unveils new operating model and sr leadership team
Under the new structure, MS Amlin Plc will therefore be removed and the corporate entities MS Amlin Underwriting Ltd. (MS AUL), MS Amlin AG (MS AAG), MS Amlin Insurance SE (MS AISE) and MS Amlin Business Services (MS ABS) will be owned directly by Mitsui Sumitomo Insurance (MSI).
Nuclear plants in country safe: Government
Minister of State in the Prime Minister’s Office Jitendra Singh said there was an identification of a malware infection on Kudankulam Nuclear Power Plant (KKNPP) administrative network which is used for day-to-day administrative activities.