Category:

Technology

Aon develops $70mn in alternative capital capacity to transfer systemic cyber risk

The cover allows for limits of up to USD 70 million and will protect against increasing cyber loss aggregations on re/insurers’ balance sheets. The product is structured to protect the cedent from the effects of catastrophic cyber market losses stemming from events such as self-propagating malware or wiperware, distributed denial of service, a significant cloud outage or certificate revocation.

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Nasdaq to buy financial fraud detection firm Verafin for $2.75 billion

“The problem of detecting money laundering and fraud hasn’t been solved very well yet,” Valerie Bannert-Thurner, senior vice president and head of sell-side and buy-side solutions, market technology at Nasdaq, said in an interview. “With our acquisition we are doubling down on our belief this as an area that is being disrupted and where we can have a big impact.”
Up to $2 trillion is laundered globally each year, representing up to 5% of global GDP, according to the United Nations.

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New internet rules to give Pakistan blanket powers of censorship

A service provider or social media company could face a fine up to 500 million rupees ($3.14 million) for non-compliance, which would in turn trigger a mechanism preventing the uploading and live streaming, particularly related to “terrorism, hate speech, pornography, incitement to violence and detrimental to national security”.

A platform has to act within 24 hours or, in case of an emergency, six hours to remove content. The rules also empower the telecom authority to block an entire online system.

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Large Boeing 737 MAX customers signal caution on orders amid COVID-19

When the 737 MAX was grounded globally in March 2019 following two fatal crashes, airlines canceled flights because they lacked enough airplanes to meet strong travel demand.

Now many have parked jets or even gone out of business in the pandemic, creating challenges for Boeing as it tries to find homes for 737 MAX jets that are built but now lack buyers.

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