Risk Management

Govt may appoint ecommerce regulator; impose stricter rules on Google, Amazon: Report

Indian News       Jul 06, 2020

  New Delhi: The government may impose stricter conditions on foreign internet companies such as Amazon, Google and Facebook.   The draft ecommerce policy also proposes appointment of an ecommerce regulator to ensure fair competition in the industry, Bloomberg report has said.   The draft comes amid the...

GIC Re unveils strategies to overhaul its financials and ratings,domestic exposure to Covid-19 claims extremely limited

International News       Jul 06, 2020

  Mumbai: State owned GIC Re has strongly countered the move by the AM Best,an international rating agency, to downgrade the reinsurer's  financial strength credit rating below A- (Excellent) negative outlook, to B++ (Good) with stable outlook.   The revision of the rating by the AM Best...

UK watchdog ask Big Four accountants to ring fence audit by June 2024

International News       Jul 06, 2020

  London: The UK dominant accounting firms must separate their audit units from other businesses by June 2024 as the country’s accounting watchdog reacts to shortcomings that led to the collapse of several companies. The Financial Reporting Council is asking the so-called Big Four — KPMG,...

Threat call to Mumbai's Hotel Taj: FIR registered

Indian News       Jul 05, 2020

  Mumbai: An FIR has been registered against an unidentified person in connection with a threat call made to Taj Hotel here, police said on Sunday.   The caller, claiming himself to be a member of Pakistan-based Lashkar-e-Taiba terror outfit, had said he was calling from Karachi...

Bajaj Auto unions demand factory halt after 250 workers catch COVID-19

Indian News       Jul 04, 2020

Pune: Workers at Bajaj Auto, India's biggest exporter of motorbikes, are demanding the temporary closure of one of its plants after 250 employees  tested positive for coronavirus, its unions said on Saturday, as companies struggle to ramp up operations.   India went into complete lockdown in...

Facebook,YouTube,Twitter to face same EU rules on hateful content as broadcasters

International News       Jul 03, 2020

  BRUSSELS: Facebook, Alphabet-owned YouTube, Twitter and other social media will for the first time be subject to EU broadcasting rules on hate speech and harmful content under European Commission guidelines announced on Thursday.   The amendments to the Audiovisual Media Services Directive adopted in 2018 came...

Wimbledon and other events left more exposed to COVID-19 risk as insurers withdraw pandemic cover: GlobalData

International News       Jul 02, 2020

  London: Responding to the development that Wimbledon is not able to renew its business interruption policy with pandemic inclusion after its large payout;Ben Carey-Evans, Insurance Analyst at GlobalData said, ``Major events and sporting tournaments are set to face considerable risk over the next year as...

 Cybersecurity top priority for Indian CIOs post Covid-19 pandemic:Adobe

Indian News       Jul 02, 2020

New Delhi: As hacking threats increase from nation-state bad actors from China and North Korea, a staggering 89 per cent of CIOs in India say that cybersecurity remains to top investment area for them, a new Adobe survey revealed on Thursday.   The CIOs from India...

3 new start-ups join Lloyd’s Lab for fast-tracked COVID-19 cohort

International News       Jul 02, 2020

  London: Lloyd’s has started work with three new InsurTechs to help the Market respond to the COVID-19 pandemic.   As part of its package of measures to respond to the COVID-19 pandemic, Lloyd’s has reimagined and expanded the scope, process and timings for new applicants to...

Wirecard exposes Big 4 accounting lapses

International News       Jul 02, 2020

  Two decades of financial disasters from Enron Inc.’s collapse in 2001 to Wirecard AG’s meltdown have left the Big Four accounting firms facing a major cultural problem that regulators may struggle to resolve.   The 1.9 billion euros ($2.1 billion) missing from Wirecard’s balance sheet brought...