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IRDA forms panel to examine the need for a standard cyber liability cover for Indian market

The General Liability policies available currently in the Indian market do not cover cyber risks and cyber insurance policies currently available are highly customized for clients in a new and quickly growing market. Hence, it is felt that a basic standard product structure is required to provide insurance cover for individuals and establishments to manage their cyber risks, said the IRDAI.

Bank of England says company disclosures on climate risks will be mandatory

“Disclosing your plans can improve your credit rating, broaden your investor base, reduce your cost of finance, and economize on the fixed costs of meeting increasingly vocal investor requests for information,” the BoE’s executive director for markets, Andrew Hauser, told an Investment Association online event on Friday.

British Airways hit with UK data watchdog’s biggest-ever fine

Other major cyber incidents in the recent past include another London-listed airline, easyJet EZJ.L, which earlier this year said hackers had accessed the email and travel details of around 9 million customers.

U.S. hotel operator Marriott International MAR.O in March suffered its second data incident in less than two years, with information of about 5.2 million its hotel guests suffering a breach.

Possibility of second wave of coronavirus infections in winter season cannot be ruled out: Expert panel chief V K Paul

“In India, the new coronavirus cases and number of deaths have declined in the last three weeks and the pandemic has stabilised in most of the statesHowever, there are five states (Kerala, Karnataka, Rajasthan, Chhattisgarh and West Bengal) and 3-4 Union Territories (UTs), where there is still a rising trend,” Paul said.

Women beneficiaries comprise maximum number of a/c holders under PMJDY at 55pc

The deposits in these PMJDY accounts witnessed an 8.5 per cent rise till early September of the current fiscal year to nearly Rs 1.30 lakh crore, according to the information provided by the finance ministry. The total balance under the PMJDY accounts on April 1, 2020, was Rs 119,680.86 crore, which grew by 8.5 per cent to Rs 129,811.06 crore by September 9, 2020, the government said in the Right to Information (RTI) query.

COVID-19 prompts workers, corporates to adopt gig economy

Experts believe that gig economy provides a win-win situation for both parties and its reach is slowly expanding from less-skilled services to high-skilled jobs.

“Gig economy has been there for a long time. It’s being embraced like never before, that too in India, due to both economic conditions and COVID-19 situation,” said Kaushik Banerjee, Vice President and Business Head of Teamlease.com and Freshersworld.com.

Air pollution hypertension among top 5 risk factors for death in India in 2019 Study

According to the study, hypertension is the third leading risk factor after air pollution, responsible for 10-20 per cent of all health loss in eight states in India, primarily in the south.

“Most of these risk factors are preventable and treatable, and tackling them will bring huge social and economic benefits,” said study lead author Christopher Murray, Director of the Institute for Health Metrics and Evaluation (IHME) at the University of Washington in the US.

Retail cheque payments down to a trickle in FY20 to 2.96%: RBI data

Behind all these, the Reserve Bank has played the crucial role of an operator, catalyst and facilitator, regulator and supervisor.

Some recent RBI initiatives to enhance security and increase customer confidence in digital payments include mandating use of only EMV chip and PIN-based debit and credit cards from January 2019; tokenisation from January 2019; facility to switch on/off transactions; mandatory positive confirmation to remove any ambiguity of NEFT/RTGS funds transfers from March 2010, and January 2019, respectively.

IBAI votes out its president Sanjay Kedia, elects five new faces as directors

IBAI’s 15-member board of  directors, have  chosen Sumit Bohra as the new the  new president of the association.
After voting out some existing directors who were seeking re-election, the brokers had elected five new faces as directors for three years,.
They are Sundaram Venkatavaradan of Abhivridhi Insurance Brokers. Rashmi Ravi Iyer of Global Insurance Brokers, Sandeep Dadia of Aditya Birla Insurance Brokers, Mohan Sriraman of Paavana Insurance Brokers, Surender Kumar Tonk of  Advance Life Insurance Brokers