VARC Test - 4

Direction: Read the passage carefully and select the best answer to each question out of the given five alternatives.

With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the center of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors, and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture and enterprise and cyber resilience," he suggested.

Direction: Read the passage carefully and select the best answer to each question out of the given five alternatives.

With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the center of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors, and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture and enterprise and cyber resilience," he suggested.

Direction: Read the passage carefully and select the best answer to each question out of the given five alternatives.

With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the center of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors, and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture and enterprise and cyber resilience," he suggested.

Direction: Read the passage carefully and select the best answer to each question out of the given five alternatives.

With remote working becoming a norm, the insurance industry is likely to see a spurt in demand for cyber insurance, according to a senior IRDAI official. "In the long term, the transition to virtual workspaces resulting from COVID 19 may increase the demand for cyber insurance and further the evolution of cyber insurance products," Insurance Regulatory and Development Authority of India (IRDAI) Executive Director Suresh Mathur said. He was speaking at a virtual seminar organized by the Confederation of Indian Industry (CII). Mathur said the demand for cyber insurance coverage will come from the government entities and large organizations that are operating in higher hazard sectors. He said with a business interruption at the center of property and casualty losses, there will be pressure on insurers to cover claims. "The impact of COVID 19 on business interruptions claims will largely depend on the policy wordings," he noted. He said the evolving situation may also force a review of the pricing of the existing insurance products in the light of changing claim experience in each segment. Insurers are confronting a new reality in the COVID-19 situation as a long-term disruption to the customers, employees, investors, and suppliers. The impact of the pandemic on insurance products will vary according to the cover insurers offer, Mathur said. "While health (insurance) products are likely to bear a direct impact, property and casualty (insurance) products, covering business interruptions, will witness different degrees of impact as the result of lockdowns," he mentioned. Mathur believes that the Covid19 outbreak is unlikely to have an adverse impact on the financial results of insurance companies. The only two segments affected in the country are health and travel, he said. "Despite the increased possibility of claims under health and travel segments, most of the general insurers will remain unaffected because of the improved loss ratio in the automobile segment," he said. Mathur said going forward, insurers can adopt a phased approach to identify and address themes that are disrupting their existing business. "There is a need for them (insurers) to evolve long-term strategies with business models fostering virtual interactions across the value chain, a lean and agile technology architecture and enterprise and cyber resilience," he suggested.

Direction: Read the passage and answer the following question.

The Syrian conflict has taken a devastating toll on the country’s society, economy, and political landscape. Around 500,000 people have been killed and over half the population has emigrated or been internally displaced. Now, after nearly six years, the conflict has tilted in the regime’s favor. The regime has reestablished control over much of the country. It has begun reconstruction efforts and is encouraging businesses to reopen. However, as the country enters a new phase of stabilization and reconstruction, there is much at stake. Internally, the regime faces significant resistance from its base. At the start, it devolved much authority for managing the conflict to local authorities, which benefited greatly from the war economy. The regime is now trying to re-establish control at the center; while local authorities are trying to retain the privileges and autonomy they were granted. The extent to which the regime is able to reassert central authority will determine the degree to which it can stabilize the country and attract investment and funding for reconstruction efforts.

For their part, western governments and institutions are loath to re-establish diplomatic and economic ties with the Syrian regime. Indeed, many analysts argue against supporting Syria’s reconstruction efforts. However, not engaging comes at a cost. It would limit the west’s role in helping to rebuild Syrian institutions weakened by the conflict and it would handicap its ability to influence the regime’s choices, such as the conditions under which millions of refugees in neighboring Lebanon and Jordan might return. Thus, not engaging has serious consequences for the long-term stability of the country and its neighbors. Decisions taken in 2018 by the regime and its allies as well as by opposition groups and western institutions will collectively determine the trajectory of Syria’s post-conflict development. Decisions made at the beginning of the crisis, in 2011, plunged the country into a devastating six-year conflict. Decisions made in 2018 will be no less consequential.

Direction: Read the passage and answer the following question.

The Syrian conflict has taken a devastating toll on the country’s society, economy, and political landscape. Around 500,000 people have been killed and over half the population has emigrated or been internally displaced. Now, after nearly six years, the conflict has tilted in the regime’s favor. The regime has reestablished control over much of the country. It has begun reconstruction efforts and is encouraging businesses to reopen. However, as the country enters a new phase of stabilization and reconstruction, there is much at stake. Internally, the regime faces significant resistance from its base. At the start, it devolved much authority for managing the conflict to local authorities, which benefited greatly from the war economy. The regime is now trying to re-establish control at the center; while local authorities are trying to retain the privileges and autonomy they were granted. The extent to which the regime is able to reassert central authority will determine the degree to which it can stabilize the country and attract investment and funding for reconstruction efforts.

For their part, western governments and institutions are loath to re-establish diplomatic and economic ties with the Syrian regime. Indeed, many analysts argue against supporting Syria’s reconstruction efforts. However, not engaging comes at a cost. It would limit the west’s role in helping to rebuild Syrian institutions weakened by the conflict and it would handicap its ability to influence the regime’s choices, such as the conditions under which millions of refugees in neighboring Lebanon and Jordan might return. Thus, not engaging has serious consequences for the long-term stability of the country and its neighbors. Decisions taken in 2018 by the regime and its allies as well as by opposition groups and western institutions will collectively determine the trajectory of Syria’s post-conflict development. Decisions made at the beginning of the crisis, in 2011, plunged the country into a devastating six-year conflict. Decisions made in 2018 will be no less consequential.

Direction: Read the passage and answer the following question.

The Syrian conflict has taken a devastating toll on the country’s society, economy, and political landscape. Around 500,000 people have been killed and over half the population has emigrated or been internally displaced. Now, after nearly six years, the conflict has tilted in the regime’s favor. The regime has reestablished control over much of the country. It has begun reconstruction efforts and is encouraging businesses to reopen. However, as the country enters a new phase of stabilization and reconstruction, there is much at stake. Internally, the regime faces significant resistance from its base. At the start, it devolved much authority for managing the conflict to local authorities, which benefited greatly from the war economy. The regime is now trying to re-establish control at the center; while local authorities are trying to retain the privileges and autonomy they were granted. The extent to which the regime is able to reassert central authority will determine the degree to which it can stabilize the country and attract investment and funding for reconstruction efforts.

For their part, western governments and institutions are loath to re-establish diplomatic and economic ties with the Syrian regime. Indeed, many analysts argue against supporting Syria’s reconstruction efforts. However, not engaging comes at a cost. It would limit the west’s role in helping to rebuild Syrian institutions weakened by the conflict and it would handicap its ability to influence the regime’s choices, such as the conditions under which millions of refugees in neighboring Lebanon and Jordan might return. Thus, not engaging has serious consequences for the long-term stability of the country and its neighbors. Decisions taken in 2018 by the regime and its allies as well as by opposition groups and western institutions will collectively determine the trajectory of Syria’s post-conflict development. Decisions made at the beginning of the crisis, in 2011, plunged the country into a devastating six-year conflict. Decisions made in 2018 will be no less consequential.

Direction: Complete the paragraph given below.

Direction: Complete the paragraph given below.

Direction: Complete the paragraph given below.