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NBFC sector faces imminent crisis, says Corporate Affairs Secretary

by | May 12, 2019 | , ,

“There is an imminent crisis in the NBFC sector. There is a credit squeeze, over-leveraging, excessive concentration, massive mismatch between assets and liabilities, coupled with some misadventures by some very large entities, which is a perfect recipe for disaster,” Srinivas said.However, he added that “responsible” companies are managing the risk well and are not facing such a dire situation.

Curv Partners with Munich Re to Commodify Digital Asset Insurance for Institutional Customers 

by | May 11, 2019 | , ,

“The novel cryptographic methods deployed in Curv’s Institutional Digital Asset Wallet Service reduce the risks associated with holding digital assets.Their approach enables us to underwrite a policy that covers customer-controlled wallets in Internet-connected settings. ,” said Ali Kumcu, Head of Cyber Innovation and Services, of Munich Re.

InsurTech investment hits records in Q1, 2019; pricing tools in the spotlight:Willis Towers Watson

by | May 9, 2019 | ,

85 deals with a total value of $1.42 billion were announced in Q1, 2019, marking the third-straight quarter to deliver more than $1 billion in funding. Deal count increased by 35% over Q4, 2018, although total funding decreased by 11%. Some 54% of deals were outside the US, marking a continuing trend. Deal count in the UK increased by 50%, and in the US by 44%. However, deal count in China fell by 38% this quarter

Finally, IRDA cancels license of ITI Reinsurance

by | May 9, 2019 | , ,

Meanwhile, Canadian based Indian born billionaire Prem Watsa, through his Indian general insurance company Digit Insurance, had tried to take over the company but was not allowed by the IRDAI do it as the company hadn’t done any business and any takeover of  the company would have been treated as  a trading of license which is not allowed under regulations 

Indians are addicted to cheap coal power and it’s killing them

by | May 9, 2019 | , ,

With a population forecast to overtake China’s as the world’s largest within just five years, India has a pressing need to alleviate poverty and build infrastructure. That means tackling a complex challenge like air pollution often falls by the wayside. Causes include coal-powered plants, but also unregulated construction sites, agricultural burning, millions of vehicles and an arid landscape, yet debate of the impact remains muted.

Govt notifies thresholds for filing class action lawsuits

by | May 9, 2019 | , ,

An application for class action can be filed by a member or members representing five per cent of the total members of a company. It can also be done by 100 members of a company, whichever is less, according to the ministry.The same criteria will also be applicable for depositors of deposit-taking companies.In case of an unlisted company, a member or members holding at least five per cent of the issued share capital can file for class action. For listed companies, this threshold would be two per cent.

Project Owl Wi-Fi Network for Natural Disaster Connections Wins IBM-Backed Contest

by | May 9, 2019 | , ,

They have designed tiny electronic nodes inside baseball-sized rubber casings that create a special Wi-Fi network spanning more than 100 square miles that can be used to connect victims and first responders. It’s a simple and relatively cheap concept, but during a natural disaster when cell towers topple, technology fails and entire communities fall into darkness – communication can be the difference between life and death.

WHO welcomes Industry action to align with global trans fat elimination targets

by | May 8, 2019 | ,

Trans fat intake is responsible for over 500,000 deaths from coronary heart disease each year globally.

WHO Director-General Dr Tedros Adhanom Ghebreyesus met with IFBA representatives, including chief executive officers from several of the 12 companies comprising the alliance, on 2 May 2019 to discuss actions to take to eliminate industrial trans fats, and reduce salt, sugar and saturated fats in processed foods.

Going to court over losses when Robot is to blame

by | May 8, 2019 | , ,

In the hedge fund world, pursuing AI has become a matter of necessity after years of underperformance by human managers. Quantitative investors—computers designed to identify and execute trades—are already popular. More rare are pure AI funds that automatically learn and improve from experience rather than being explicitly programmed. Once an AI develops a mind of its own, even its creators won’t understand why it makes the decisions it makes.