Bharti AXA targets first premium business of Rs800 crore

Bharti AXA, which already has a branch in Kochi, will open a second one in Kozhikode in October this year

Bharti AXA General Insurance Company said it is targeting first premium business of Rs800 crore nationally this calendar year.

Last year, Bharti AXA had collected Rs500 crore, Sanjay Radhakrishnan, senior vice president, head-corporate and alternate distribution, said.
Bharti AXA General Insurance is a joint venture between Bharti Enterprises and AXA, a world leader in financial protection. The company was looking at business of Rs250 crore from South India this year.

Right from its inception, first premium business in South India amounted to Rs230 crore from 1.6 lakh policies, he said.

The company also aims to further deepen its penetration in the SME segment across Kerala, Manoj Nair, zonal VP-South, said.

It was offering 'packaged policies' targeted at shopkeepers, the hospitality segment and small scale industries.

These are not only cost-competitive, but also significantly reduce the hassles associated with procuring of insurance policies through instant and on the spot issuance of pre-underwritten products.

Bharti AXA, which already has a branch in Kochi, will open a second one in Kozhikode in October this year. The two branches, along with six spoke locations, will serve the SME segment across Kozhikode, Thiruvananthapuram, Kollam, Kottayam, Thrissur, Malappuram, Palakkad, Kannur and Kasaragod districts.

The company also plans to increase its headcount by 50% and build its business to about Rs15 crore in Kerala by December this year from the present 7.4%.

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2G scam: Kanimozhi appears before court, seeks bail

Senior advocate and former Union law minister Ram Jethmalani filed a bail plea on her behalf contending that she "has no role, whatsoever, in the scam." He contended that apart from having a 20% stake in Kalaignar TV, she does not have any role in running its day-to-day affairs

New Delhi: Tamil Nadu chief minister M Karunanidhi's daughter and DMK MP Kanimozhi today appeared before a special court, responding to summons for her alleged involvement in the second generation (2G) spectrum allocation scam and sought bail on grounds of being a woman, reports PTI.

43-year-old Ms Kanimozhi appeared along with Kalaignar TV managing director Sharad Kumar, another accused in the case.

The third accused, Cineyug Films director Karim Morani, who too had been summoned, however, sought exemption from appearance on medical grounds.

Ms Kanimozhi was accompanied to court by several party leaders, including DMK MP TR Baalu.

Soon after the court proceedings began, senior advocate and former Union law minister Ram Jethmalani filed a bail plea on her behalf contending that she "has no role, whatsoever, in the scam."

He contended that apart from having a 20% stake in Kalaignar TV, she does not have any role in running its day-to-day affairs.

She is neither a board member nor had attended any board meeting of the channel, said Mr Jethmalani, adding that being a woman she deserves to be granted bail.

As Mr Jethmalani argued for her, Ms Kanimozhi looked calm and composed. The argument on her bail plea, besides proceedings relating to other accused, who appeared in the court were continuing.

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COMMENTS

Mort

6 years ago

This is unfair.
Why National disgrace Commonwealth Games scam Sheila Dixit not questioned yet ?
Why Adarsh scam Sushil Kumar Shinde , Vilasrao Deshmukh and Ashok Chavan not questioned or summonedby CBI yet ?
Why IPL scam Sharad Pawar , Lalit Modi , Mukesh Ambani and others not questioned or summoned by CBI yet ?

Cybercriminals now target ‘trade secrets’ of companies

Out of the 100 representatives from different organisations surveyed from India, 29% said they had suffered a security breach and this number has increased from 19% in 2008

New Delhi: After chasing personal information of individuals world over, cybercriminals are now targeting the trade secrets of well-known global organizations including those in India as they see greater value in selling a corporation’s proprietary information to competitors and foreign governments, reports PTI.

“Cybercriminals are now focusing on trade secrets of global companies. Sophisticated attacks like Operation Aurora, and even unsophisticated attacks like Night Dragon, have infiltrated some of the largest, and seemingly most protected corporations in the world,” says Simon Hunt, VP and chief technology officer, endpoint security at McAfee.

The report ‘Underground Economies: Intellectual Capital and Sensitive Corporate Data Now the Latest Cybercrime Currency’, has been prepared by security technology company McAfee and Science Applications International Corporation, a scientific, engineering, and technology applications company in USA.

More than 1,000 senior IT decision makers in India, US, UK, Japan, China, Brazil and the Middle East were surveyed for it. Out of the 100 representatives from different organisations surveyed from India, 29% said they had suffered a security breach and this number has increased from 19% in 2008.

32% of the Indian respondents said they only occasionally take steps to remediate and protect systems for the future after a breach or attempted breach. 11% of them said their organisations accrued a loss between $0-$500,000 while 27% indicated a loss between $500,000-$1,000,000 due to loss of sensitive information or intellectual property.

40% Indian respondents indicated that data breach or threat of a data breach affected their merger and acquisition plans and 26% said it affected their product roll-out.

Two years ago, McAfee produced the ‘Unsecured Economies Report’, which found that businesses companies worldwide lost more than an estimated $1 trillion in 2008 due to data leaks, the cost of remediation and reputational damage.

Not only do companies have to worry about competitors stealing intellectual capital, but they have to worry about sensitive or even classified information that could be leaked to media, as in the case of WikiLeaks, adds the report.

In 2006, a laptop of an Indian official working with a top technical intelligence gathering agency went missing from his car and it is believed to be having important data on country’s nuclear arsenal and missile system.

“Most of the current technologies use the preloaded algorithms to sense any anomaly. However, the cybercriminals are far superior in terms of their technical capability and they can identify ways and means to break the systems,” says Dinesh Pillai, CEO, Mahindra SSG, a leading corporate security risk consulting firm in India.

According to Scott Aken, vice president for cyber operations at SAIC, “The distinction between insiders and outsiders is blurring. Sophisticated attackers infiltrate a network, steal valid credentials on the network, and operate freely—just as an insider would.”

The report suggests advanced malware analysis and forensics and insider threat tools to interrupt connections if data is inappropriately being removed, as the solutions to check the cybercriminals. Mr Aken advises that the companies should know clearly what needs to be protected.

“Most organizations spend enormous sums of money protecting the less critical portions of their network while the crown jewels, their intellectual capital, remain wide open. The thorough analysis of what lies on the network, combined with a solid defence in depth strategy, all implemented by a properly trained staff can do wonders for protecting an organization’s data,” says Mr Aken.

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