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WhatsApp, Signal cite encryption, privacy to avoid compliance, says govt
IndiGo may have to replace more engines as govt intensifies scrutiny T
A “more intense boroscopic examination” of engines manufactured by Pratt & Whitney has identified more engines at risk of shutting down in midair, Arun Kumar, the head of India’s Directorate General of Civil Aviation, told Bloomberg News on Sunday. Out of roughly 200 engines in use, IndiGo will now have to replace at least 130. India’s Aviation Minister, Hardeep Singh Puri, had earlier put the figure at 110.
ACORD Names Top Ten InsurTech Leaders of 2019
“ACORD’s Top Ten InsurTech Leaders list features visionaries operating throughout the insurance value chain, from large, established incumbents to small startups. For real change to happen, we need long-time industry leaders and new players with fresh perspectives to work together,” said ACORD President and CEO Bill Pieroni.
Four Muslim nations consider gold, barter trade to beat future sanctions
HC asks 3 mining cos to pay Rs 6.5 mn for polluting Goan agricultural land
Australia’s bushfires circle Sydney as temperatures soar
Google fined $167 million in France amid crackdown on online advertising
The fine is France’s third biggest monopoly abuse penalty since 2009. French regulators are separately investigating Facebook Inc. following a complaint from Criteo. said Isabelle de Silva,president, France’s Autorite de la concurrence, It will also set up a new digital unit to handle internet issues.
Modi says India will emerge stronger from slowdown, urges investments
Govt plans to make PFRDA sole regulator for the pension products
“The proposed amendments will segregate the marketing functions from the PFRDA which will be only be a licensing authority. The Ministry of Finance*MoF) has finalised a few amendments to the existing PFRDA Act and after inter-ministerial consultations, it will go to the Cabinet for its final approval.It may be placed in the parliament during the forthcoming Budget session,” said Supratim Bandyopadhyay, Member (Finance). PFRDA.
One nation, one ration card: Centre makes standard format, asks states to follow it for issuing fresh cards
Crisis looms as debt wave sweeps developing nations, warns World Bank
Life insurers bat for 100% foreign investment in sector via automatic route
Global cat insured losses from natural and man-made catastrophes fell 40% to $ 56 bn in 2018: Swiss Re
Climate change is leading to more frequent and more severe secondary peril events, which manifest in different ways: more local flooding, torrential rains,prolonged drought, severe wildfires and other extreme weather events. Together, secondary perils are estimated to comprise more than 50% of this year’s global insured losses from natural catastrophes, demonstrating once again the very significant impact these events can inflict on societies.
MS Amlin confirms exit from domestic UK P&C classes
Tom Clementi, CEO of MS Amlin Underwriting Limited, commented: “The decision to place these classes into run-off will enable us to focus on our core markets and ensure we are best placed to serve our clients going forward. The decision aligns with the new underwriting strategy we outlined on 30th September and the steps we have taken to remediate the business since then. We are committed to supporting both our customers and our people through this process.”
Cigna to sell unit to New York Life Insurance in $6.3 billion deal
Climate change has a significant impact on the liabilities of non-life insurers and reinsurers:EIOPA
Regarding climate risk, insurers and pension funds can play a key role in the transition towards a low carbon economy as major institutional investors, but this transformation carries significant investment risks as well. It is therefore crucial that both insurers and pension funds actively incorporate climate change risks in their own risk management frameworks.
Financial Action Task Force cautions financial institutions on dealings with North Korea
The FATF remains concerned by theNorth Korea’s failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime and the serious threats they pose to the integrity of the international financial system. The FATF urges the DPRK to immediately and meaningfully address its AML/CFT deficiencies.