Local authorities are now counting the cost of the disaster and...
Category:
Risk Management
Latest
TikTok’s practices endangered children’s safety, US alleges in lawsuit
"TikTok knowingly and repeatedly violated kids' privacy,...
Hong Kong slaps AIA with record fine for anti-laundering lapses
The lapses resulted in some customers who were “politically exposed...
Bank liable for unauthorised withdrawal even if no reply to SMS alert: HC
SMS alerts cannot be the basis to determine the liability of a customer, for there would be account holders who may not be in the habit of checking SMS alerts regularly, the court said.
Insurers need to diversify investments to tackle climate risks:IRDA chief
Alice Vaidyan, CMD, GIC Re said that the reinsurance and insurance sector have witnessed varies catastrophes in the last few years and in case of hurricane scenario, some patterns can be found. She emphasised that there is urgent need by insurers and govt. to put forth finances and support the risk management processes.
J&J reported to settle most Pinnacle Hip Implant Lawsuits
Hip patients have been suing J&J and DePuy since 2010, alleging the devices failed prematurely or gave them metal poisoning. J&J took the metal-on-metal version of Pinnacle off the market in 2013.
`Regulatory Sanbox: IRDAI Irdai to allow testing of products before launch
The applicant can apply in any one of more of the five categories namely insurance solicitation or distribution, insurance products, underwriting, policy and claims servicing and any other. The applicant could apply singly or jointly in one or more than one category, provided that if the category involves insurance product or underwriting, then the applicant necessarily has to partner with an insurer.
Power & renewable energy companies facing considerable disruption:Willis Report
George Nassaouati, Head of Natural Resources, Asia at Willis Towers Watson, commented: “It is incumbent on the insurance industry to embrace the risks presented by these new developments and provide the appropriate risk advisory and risk transfer / retention solution. It is essential that today’s power and renewable organisations prepare themselves for the turbulence that disruptive change inevitably brings.”
India improves global corruption index ranking by 3 points to 78 in 2018
India has improved its ranking on a global corruption index in 2018, while its neighbour China lagged far behind, according to the annual index released by an anti-graft watchdog on Tuesday. India rose by three points to 78 in the list of 180 countries in the...
Global ransomware attack could cost businesses almost $200bn, new study finds
Regionally, the US would be the hardest hit with $89bn at risk. Europe could lose $76bn, with Asia losing $19bn.The rest of the world could lose $9bn.
Despite the high costs to business, the report shows the global economy is underprepared for such an attack with 86% of the total economic costs uninsured, leaving an insurance gap of $166bn.
Lancet report blames ‘Big Food’ firms for fuelling obesity, climate change
The global rate of obesity almost tripled in the last four decades, with more than a third of the world’s adults now in a weight range that increases risks of heart disease, cancer and other disorders, according to the WHO. Meanwhile, almost half of children under the age of 5 don’t get needed nutrients — mostly in low- and middle-income countries — even as average weight increases.
Boeing sees flying cars revolutionizing urban transportation, package delivery
Boeing is working with startup SparkCognition Inc and the U.S. Federal Aviation Administration to develop a traffic-management system for three-dimensional highways, as well as the regulatory framework that will allow waves of autonomous vehicles to zip safely around buildings, the company has said.
Pilot of US-Bangla airline smoked inside cockpit: Reports
The report has pointed to the human discretion and the natural factor that contributed for the downing of the aircraft