Global spread of Corona Virus The coronavirus COVID-19 has affected 109 countries and territories around the world and 1 international conveyance (the Diamond Princess cruise ship harbored in Yokohama, Japan). As on 09th March 2020, total 1,11,318 persons are affected all around the world. Out of which 62,661 patients have recovered and deaths reported is 3,882 (i.e. 3.48%). Number of...

Corporate insolvencies are expected to grow 2.4% in 2020, a pronounced acceleration from the 1.4% increase recorded in 2019, largely resulting from the Coronavirus outbreak. The coronavirus outbreak slows in China and accelerates in the rest of the world, especially South Korea and Italy. The outbreak of the coronavirus though is compounding the challenges to global trade and manufacturing, by...

Force Majeure (FM):- Means extraordinary events or circumstances which is beyond human control, and even described as act of god like natural calamity. The Ministry of Finance (Department of Expenditure Procurement Policy Division) has issued a clarification that corona virus will be covered in the force majeure clause (FMC) and should be considered as a case of natural calamity. Effects on contract...

As the compliance is becoming stringent and the Indian society and business is getting more litigious, the directors and officers insurance policy which compensate key management personnel of a company against legal actions is gaining importance in the Indian market. Previously, the policy was purchased by businesses due to global exposures like regulations, compliances and exposures related to the foreign...

Incident- On 19th March 2019, Norsk Hydro ASA, one of the world’s biggest aluminium manufacturers, has confirmed that Cyberattack affected operations. The firm detected unusual activity on its servers that disabled part of its smelting operations, leading Norsk Hydro to isolate all plants and process and switched to manual operations and procedures. Norsk Hydro has also confirmed that it has...