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Risk Management
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India’s household debts surge on back of housing loans, rising trend of unsecured lending
As per the report, as of FY23, India's household debt has reached...
Tech companies commit to fighting harmful AI sexual imagery by curbing nudity from datasets
In a deal brokered by the Biden administration, tech companies...
G20 leaders vow to prevent use of internet for terrorism, extremism
“We issue this statement to raise the bar of expectation for online platforms to do their part. We, the leaders of the G20, reaffirm our strongest condemnation of terrorism in all its forms and manifestations,” they said.
Cyber Liability: the last frontier of the insurance
Buyers are turning to carriers for comprehensive pre-breach and post-breach cyber risk management services, and carriers are responding, either directly or by offering these services through third parties. Some of these services include network vulnerability scanning, penetration testing both internally and externally of the network, assistance with business continuity planning, GDPR readiness and more
Cyber risks are jeopardizing M&A Deals
Of more than 2,700 information technology and business decision makers surveyed by Forescout Technologies Inc. in seven countries, 53% reported that their organization had encountered a critical cybersecurity issue or incident that put an M&A deal in jeopardy. And 65% of respondents said they had experienced buyers’ remorse because of cybersecurity concerns after closing a deal.
RMS releases underwriting tools deliver rapid, site-specific insights
Karen White, CEO of RMS, said: “We have listened to the market, and to our clients. We know that there are times when full in-depth analysis is essential and there are times when immediacy of information is paramount. With our expanding suite of data solutions, a consistent and superior view of risk from underwriting up to portfolio management is now possible. RMS Location Intelligence API and SiteIQ can deliver immediate results at the times when they are needed the most for our clients.”
Discovery of new risk with Boeing 737 to prolong grounding
The risk was discovered during a simulator test last week and it is not yet clear if the issue can be addressed with a software upgrade or will require a more complex hardware fix, sources with knowledge of the matter told Reuters.
US-bound Air India plane gets bomb threat, escorted to UK by fighter jets
“An Air India Boeing 777 diverted into London Stansted Airport at approximately 1015 and landed safely with Essex Police in attendance. It is parked on an isolated stand away from the normal airport operations,” the airport said.
Modi govt considers tougher rules for audit firms amid crack down on lapses
To stamp out conflicts of interest, the corporate affairs ministry is also weighing either a complete ban on non-audit services or limiting the revenue generation from consulting businesses such as advising companies on restructuring and valuing mergers, the person said, asking not to be identified as the information isn’t public.
Robots on track to wipe out a tenth of manufacturing jobs by 2030: Report
While automation should boost the economy as a whole, it is likely to create greater inequality as employment losses are concentrated in certain industries and countries. Manufacturing could lose 20 million positions by 2030, making the sector 8.5% smaller than “if robots were not remaking the market,” according to the research firm’s report.
Lloyd’s underwriters team up to “insure the uninsurable” with a £53m capacity
The market-led solution, led by senior underwriters from Tokio Marine Kiln, Beazley, MS Amlin, Talbot, Liberty Specialty Markets, Hiscox, Ascot, Chubb, Chaucer, Brit, Antares and Apollo will trial new types of insurance for complex and non-standard risks, including, but not limited to, intangible assets and supply chain risks, or mishaps caused by artificial intelligence.
Rivals ride rising rates as Lloyd’s abandons some ship insurance
Premiums for marine insurance, which until 2018 had fallen for years due to rising competition and lower claims, are increasing after a surge in catastrophe losses in the past two years and growing geopolitical tensions..