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Simon Weaver, Head of Corporate Risk & Broking, Asia and Australasia, and Head of Australasia, WTW, said,`` As the coronavirus becomes endemic, a broad set of societal risks have become ever-present in business decision making for all organisations today High...
Explainer: Can companies leaving Russia recoup losses through insurance?
Vladimir Putin,President,Russia Companies that leave and abandon their business without any action taken by the Russia government to seize control of their assets will have a tough time collecting insurance, according to legal experts "You see companies saying 'we're...
U.N. to roll out global early-warning systems for extreme weather
Petteri Taalas, Secretary-General, World Meteorological Organization With the trend expected to worsen as global temperatures continue to climb, "there is a need to invest $1.5 billion" in the next five years to predict when extreme events might occur, said World...
ICICI Lombard and Airtel Payments Bank tie-up for Smartphone Insurance
With a monthly premium starting at Rs 1299, customers can get an insurance sum that is equivalent to the purchase price of their smartphone. Customers can get this insurance on their own until ten days after purchasing a smartphone priced between Rs 10,000 to Rs...
Private vs. public: predicting and preparing for future pandemics
COVID-19 turned into a US$22-trillion disaster killing more than six million people globally partly because the dots between warning and action were not connected. Some governments took quick and precautionary action, especially those that had invested in their public...
Pandemic keeps uber rich off charities, contribution drops from 18% to 11%: Report
CSR, family philanthropy and retail giving cumulatively contribute about 84 per cent of the total private philanthropic capital in the country, ''and they will act as three strong pillars as we move ahead'', says the report Mumbai: In spite of a massive jump in the...
Hackers hit authentication firm Okta, drawing concern across security industry
The screenshots were posted by a group of ransom-seeking hackers known as Lapsus$ on their Telegram channel late on Monday. In an accompanying message, the group said its focus was "ONLY on Okta customers." 'BE VERY VIGILANT' Okta Inc, whose authentication services...
MHA ends COVID-19 containment measures from Mar 31; wearing of face mask to continue
In a communication to the chief secretaries of all states, Union Home Secretary Ajay Bhalla said that over the last 24 months, significant capacities have been developed for various aspects of management of the pandemic, such as diagnostics, surveillance, contact...
Higher Motor 3rd Party motor premium to be implemented after mid-May
``Notice is hereby given that the said draft rules shall be taken into consideration after the expiry of a period of 30 days from the date on which the copies of this notification as published in the Gazette of India, are made available to the public,'' said the...
Marsh launches ESG Risk Rating to measure companies’ ESG performance
``With the ESG Risk Rating, we are providing our clients with a clear framework from which to better understand their ESG performance, make more informed investment decisions, and realize better risk management outcomes,” said Amy Barnes, Head of Climate and...
U.S. SEC proposes companies disclose range of climate risks, emissions data
It would also require companies to disclose greenhouse gases generated by suppliers and partners, known as Scope 3 emissions, if they are material or included in any emissions targets the company has set SEC chair Gary Gensler said the agency was responding to...
Japan’s Suzuki, SkyDrive sign deal to develop, market ‘flying cars’
The company, which is also developing cargo drones, aims to launch a 'flying car' service in Osaka in 2025 when the Japanese city hosts the World Expo. For Suzuki, the partnership will add 'flying cars' as a fourth mobility business, in addition to automobiles,...
India-Retirement and second home market size will increase to $4 billion by 2026
"Second homes have been part of an aspirational lifestyle for a long-time, and with the pandemic changing the real estate market in various ways, the second home industry has come into the spotlight," said Aditya Kushwaha, CEO and Director, Axis Ecorp. India's...
Insurers face substantial losses from planes grounded in Russia, may lead to hardening of premiums: Fitch Ratings
Multi-billion-dollar aviation insurance claims could have significant knock-on effects on the aviation insurance market. ``We would expect insurers and reinsurers to respond by increasing premiums, incorporating more exclusion clauses in their contracts, and cutting...
GIC Re’s Madhulika Bhaskar appointed as acting CMD of New India Assurance
Madhulika Bhaskar Unlike the old practice, where normally two general managers of a PSU general insurance company, where the vacancy is occurring, are given charge as an interim arrangement till a regular CMD is appointed, this is for the first time, a general manager...
Star Health launches exclusive cover for people above 50 years
The Star Health Premier Insurance Policy offers benefits such as Home Care Treatment for specified conditions (up to 10% of the sum insured subject to a maximum of Rs.5 lakhs), cover for inpatient hospitalization expenses and day care treatments under Ayush Treatment,...
SUD Life, Vakrangee join hands to sell insurance policies in smaller towns
Star Union Dai-ichi Life Insurance (SUD Life) will tap customers living in smaller towns and rural areas through a partnership with Vakrangee.SUD Life is a joint venture between Bank of India, Union Bank of India, and Dai-ichi Life Japan. ''With the help of Nextgen...
GKB Opticals ties up with Toffee Insurance for eyewear-cover
GKB Opticals, India’s oldest and largest retailer of optical products, has partnered with Toffee Insurance to provide innovative vision and eyewear-related insurance solutions for its customers. Insurance solutions will include eyewear theft and damage, and also...