by AIP Online Bureau | Jul 25, 2024 | Eco/Invest/Demography, Intermediaries, Workplace/Employee Benefits
A record 260 companies went bankrupt in 2023 as they couldn’t secure enough workers to maintain their operations, according to a report by Teikoku Databank Japan’s tax and insurance premium revenue is projected to decrease by about 10% by 2040, according to a 2018...
by AIP Online Bureau | Jul 25, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Technology
Reinsurance broker Guy Carpenter said that insurers may face claims on directors and officers’ and property insurance as a result of the outage, in addition to cyber insurance claims Global insured losses from last week’s massive IT outage are likely to range from...
by AIP Online Bureau | Jul 25, 2024 | Eco/Invest/Demography, Indian News, Life, Non-Life, Policy, Regulation, Risk Management
“Globally, the private financial sector has repeatedly shown itself to be adept at selective or misinterpretation of principles-based regulations to its benefit,’’ cautioned the report released on Monday adding that when it comes to financial products, globally,...
by AIP Online Bureau | Jul 25, 2024 | Eco/Invest/Demography, Policy, Regulation, Risk Management, Technology
Jitin Prasada,Minister of State for Electronics and IT From hefty penalties ranging from a minimum of Rs 50 crore to a maximum of Rs 250 crore on social media platforms for violating rules to enabling digital markets to grow more responsibly while safeguarding...
by AIP Online Bureau | Jul 24, 2024 | Articles, Disaster & Management, Eco/Invest/Demography, Non-Life, Reinsurance, Risk Management, Technology, Workplace/Employee Benefits
The incident highlights the need to shift our perception of cybersecurity from a mere IT issue to the broader concept of cyber resilience as an integral part of business resilience. In the face of a cyberattack, businesses should be able to recover fast from an...
by AIP Online Bureau | Jul 24, 2024 | Articles, Eco/Invest/Demography, Non-Life, Reinsurance, Risk Management, Technology
Insurers are expecting a “wave of notifications” in the coming days, and losses are likely to be seen under business interruption and dependent business interruption insuring clauses, Acrisure Re said in its bulletin. Insurers may also suffer...
by AIP Online Bureau | Jul 24, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management, Technology
Fortune 500 firms excluding Microsoft to see $5.4 bln in CrowdStrike losses LONDON: U.S. Fortune 500 companies, excluding Microsoft will face $5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday. CrowdStrike’s...
by AIP Online Bureau | Jul 24, 2024 | Indian News, Life
The life insurer’s Value of New Business (VoNB) stood at Rs 970 crore with a 12 per cent year on year (Y-o-Y) growth in Q11FY 25. Its VoNB margin was at 26.8 per cent during the reporting quarter Mumbai: SBI Life, the largest private sector life insurer, has...
by AIP Online Bureau | Jul 24, 2024 | Eco/Invest/Demography, International News, Risk Management, Technology, Workplace/Employee Benefits
The incident crashed Microsoft Windows computer systems around the world on Friday, taking down airline, banking and stock exchange operations from Australia and Japan to the UK CrowdStrike Holdings Inc., the cybersecurity company at the center of massive global IT...
by AIP Online Bureau | Jul 24, 2024 | International News, Non-Life, Reinsurance, Risk Management
The plane caught fire after skidding off the runway at Kathmandu airport and crashing into a field east of the runway,” the airport official added Kathmandu: A private airlines’ Pokhara-bound plane crashed during takeoff at the Tribhuvan International...
