Risk Management

IFRS Foundation Trustees consult on global approach to sustainability reporting

International News       Sep 30, 2020

  London: Amid heightened focus on environmental, social and governance (ESG) matters, developments in sustainability reporting and increased calls for standardisation of such reporting, the The Trustees of the IFRS Foundation  are now seeking stakeholder input on the need for global sustainability standards and gauging support...

Lloyd’s launches “first-of-its-kind” parametric business interruption insurance policy for SMEs

International News       Sep 30, 2020

London: Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small and medium sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies today...

Georgia court allows lawsuit against sperm bank to proceed

International News       Sep 30, 2020

  A couple who accused a sperm bank of misrepresenting its process for screening donors and providing incorrect medical and educational history of the donor they selected can proceed with a lawsuit against the sperm bank, Georgia’s highest court ruled Monday. A Fulton County judge had...

Financial firms and governments deeply sceptical of cryptocurrencies: survey

International News       Sep 30, 2020

  Financial firms and governments overwhelmingly see cryptocurrencies as risky, a major survey found on Tuesday, with the potential for bitcoin and other digital tokens for use in money laundering and sanctions busting among the chief worries. Around 60% of respondents from financial firms, government and...

AXA XL launches Digital Risk Engineer, a connected solution to monitor ``buildings and assets''

International News       Sep 29, 2020

  Paris: AXA XL is accelerating the scaling of its new Digital Risk Engineer proposition – a connected solution designed to enable companies to monitor the “health” of their buildings and assets – having recently completed the successful pilot phase. Available globally, Digital Risk Engineer uses...

China to tighten supervision of country's booming online insurance business

International News       Sep 29, 2020

BEIJING: China’s banking and insurance regulator issued draft rules on Monday to rein in risks accumulated in country’s booming online insurance sector. The rules, on which the regulator is seeking public feedback till Oct. 28, will ban unlicensed institutions and individuals from participating the online...

UK watchdog sets Wednesday deadline for agreement on business insurance claims

International News       Sep 29, 2020

LONDON: Britain’s Financial Conduct Authority said on Tuesday it has filed for an expedited appeal in its business interruption test case as a precaution against insurers not agreeing by Wednesday to pay out on claims made during the pandemic. Hundreds of thousands of mainly small...

Most executives seek work-life balance after experiencing pandemic blues - survey

International News       Sep 28, 2020

  Nearly eight out of 10 corporate executives have experienced poor mental health during the coronavirus crisis, prompting a number of them to re-evaluate and improve work-life balance, a survey showed on Monday. Many top company officials in France and Egypt were most likely to have...

'Take home' lawsuits over COVID infections could be costly for U.S. employers

International News       Sep 28, 2020

  U.S. businesses with COVID-19 outbreaks are facing an emerging legal threat from claims that workers brought coronavirus home and infected relatives, which one risk analysis firm said could cost employers billions of dollars. The daughter of Esperanza Ugalde of Illinois filed in August what lawyers...

Global leaders at UN meet: If virus does not kill us, climate change will

International News       Sep 28, 2020

  In a year of cataclysm, some world leaders at this week's annual United Nations (UN) meeting are taking the long view, warning: If Covid-19 doesn't kill us, climate change will. With Siberia seeing its warmest temperature on record this year and enormous chunks of ice...

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