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...
by AIP Online Bureau | Jul 24, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
“We expect claims will be mostly within the retentions of primary insurers,” said Fitch Cyber risk remains difficult for insurers to assess due to the dynamic root causes of claims. Challenges include a lack of effective, widely accepted modeling tools and...
by AIP Online Bureau | Jul 23, 2024 | Health, Indian News, Life, Non-Life, Policy
The introduction of a clause pertaining to non-deductible expenses in Section 37 for life insurance companies may lead to tax litigation. The proposed hike in Capital Gain Tax is expected to impact the tax liabilities for ULIP policyholders Rushabh Gandhi, MD &...
