Around 20,000 workers are part of the group of port workers'...
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Mpox scare: Centre tells international airports to be vigilant
P K Mishra, Principal Secretary to the Prime Minister "The virus...
Istanbul: With earthquake risk city’s business now getting ahead on contingency planning
The impact would, of course, be huge. Insurers estimate a $300...
Aon and Guy Carpenter partner with The Institutes RiskStream, to streamline the reinsurance placement process
“Distributed ledger technology has the potential to decrease costs, simplify processes and increase data security across all areas of risk management, and reinsurance, in particular, stands to benefit significantly from this technology,” said Christopher McDaniel, President of The Institutes RiskStream Collaborative. “The best solution for the market and for reinsurance buyers is to build a successful solution alongside brokers, reinsurers and carriers. Each has a vital role to play and DLT can provide efficiencies to all participants.”
Boeing completes 737 Max software upgrade
Boeing said that once information on how pilots work with the upgraded system is submitted to the FAA, it will work with the regulator to schedule a certification test flight and submit final certification documentation
RBI asks NBFCs with over Rs 50,000 crore in assets to appoint risk officers
An independently functioning chief risk officer with clearly specified role and responsibilities has to be appointed by NBFCs, the Reserve Bank of India said in a statement.
U.S. blacklisting of China’s Huawei to disrupt Global Technology Supply Chain
Out of $70 billion Huawei spent for component procurement in 2018, some $11 billion went to U.S. firms including Qualcomm, Intel Corp. and Micron Technology Inc., and they could see that revenue disappear.
In India election, a $14 software tool helps overcome WhatsApp controls
Modified versions of popular apps have become common as technically-savvy hobbyists have long reverse-engineered them. Tools purporting to bypass WhatsApp restrictions are advertised in videos and online forums aimed at users in Indonesia and Nigeria, both of which held major elections this year.
Cyber Insurance growth slows down in US, records reaching $2 Billion in 2018, Fitch
Standalone cyber insurance premiums grew 12% in 2018, according to insurer statutory financial data. Fitch said high profile cyber events and previous uncertainty around cyber terms in commercial insurance policies continue to demonstrate the need for coverage. Insurers are addressing silent cyber risks by adding affirmative coverage in policies, including sublimits and cyber endorsements, but these efforts vary widely among individual companies.
Bank of England fires warning shot to insurers over capital, Libor
The BoE and the Financial Conduct Authority have written to the chief executives of insurers and banks, asking them to spell out their preparations for effectively ditching the use of Libor by the end of 2021.The BoE wants insurers to reference its overnight rate SONIA in contracts and balance sheet assessments after banks were fined billions of pounds for trying to rig Libor.
WhatsApp vulnerability allowed secretive installation of spyware
Attackers could transmit the malicious code to a target’s device by calling the user and infecting the call whether or not the recipient answered the call. Logs of the incoming calls were often erased, according to the report.
Indian pharma majors deny allegations of price fixing in US
The homegrown drugmakers are among the 21 generic pharmaceutical firms and 15 other individual defendants against whom the Attorneys General of 49 US states, the Commonwealth of Puerto Rico and the District of Columbia had filed a complaint with respect to 116 generic drugs in the US District Court for the District of Connecticut.
Paytm Mall probe reveals Rs 10-crore cashback fraud: Vijay Shekhar Sharma
Sharma said actions against the wrongdoers are being taken. These include de-listing “hundreds” of sellers to ensure there are only brand sellers on the platform and not the “mom-and-pop shops”, he said adding that “tens” of employees have also been sacked.