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Moody’s RMS estimates $4 to 6 billion in economic losses from Hawaii Wildfires
Michael Young, Vice President, Product Management, Moody’s RMS,...
Insured losses from natural catastrophes set to top $100 billion in 2023
More than two-thirds of the insured losses were as a result of...
We will be living with coronavirus pandemic well into 2021, experts believe
“No activity will be without the risk of coronavirus,” said Amesh Adalja, a senior scholar at Johns Hopkins Center for Health Security in Baltimore. “It’s just how much risk people think is worth assuming.”
Robot butlers, digital menus are hotels’ latest weapon against Covid-19
According to the American Hotel & Lodging Association, “leisure and hospitality” was the hardest-hit industry in the Covid-19 era, far worse than retail and construction. In the U.S., hotels have lost more than $31 billion in room revenue since mid-February; as of June 3, 60% of open-for-business accommodations are sitting empty. Some 7.7 million hospitality and leisure jobs were lost in April alone
China finds Coronavirus contamination in seafood and meat in Beijing food market
China has found the trading sections for meat and seafood in Beijing’s wholesale food market to be severely contaminated with the new coronavirus and suspects the area’s low temperature and high humidity may have been contributing factors, officials said on Thursday.
Their preliminary report comes as the country’s capital tackles a resurgence of COVID-19 cases over the past week linked to the massive Xinfadi food center, which houses warehouses and trading halls in an area the size of nearly 160 soccer pitches.
The latest outbreak infected more than 100 people and raised fears of wider contagion in China.
Among the patients who work at the Xinfadi market, most serve at seafood and aquatic product stalls, followed by the beef and mutton section, and patients from the seafood market showed symptoms earlier than others, Wu Zunyou, chief epidemiologist at the Chinese Center for Disease Control and Prevention, said at a daily briefing on Thursday.
Low temperatures favorable to viral survival as well as high humidity might be possible explanations for why seafood markets could be a source of outbreaks based on a preliminary assessment, Wu said, cautioning that further investigation was necessary.
China has halted imports from European salmon suppliers this week amid fears they may be linked to the recent outbreak in Beijing.
Health officials have also warned against eating raw salmon after the virus was discovered on chopping boards used for imported salmon, although the origin of the outbreak is not known.
Low standards of hygiene in wholesale food markets and vulnerabilities in its food supply chain need to be urgently addressed, a leading body of the ruling Communist Party said this week.
Stranded seafarers could stop work, disrupting world trade
With more than 80% of global trade by volume transported by sea, the world’s more than 2 million merchant seafarers play a vital role in keeping countries supplied with everything from raw materials and fuel to food and consumer goods.
Insurers cite Swedish example in bid to dodge Covid-19 biz income payouts
The court case is one of a number of battles across the world, where insurers and clients are fighting over whether coverage extends to measures taken by governments to halt the spread of coronavirus. In France, AXA SA was ordered by a Paris court last month to compensate a restaurant owner for two months of virus-related losses.
Japanese researchers confirm coronavirus testing in sewers as possible outbreak warning system
“Sewage testing is used as an early warning system to alert people about (possibly unnoticed) ongoing community transmission,” said Yuki Furuse, a Kyoto University professor who wasn’t directly involved in the study.
IMF sees ‘profound uncertainty’ about global recovery: Gita Gopinath
Gopinath said the economic crisis triggered by the novel coronavirus (Covid-19) pandemic was more global and playing out differently than past crises, with the services sector hit harder than manufacturing in both advanced and emerging market economies, and inflation low across the board.
Digital health passports could help get fans back into stadiums
The digital health passport is a web-based platform that shows a person’s COVID-19 testing status and history by scanning a QR code to secure access to any venues where safety is a concern.
Insurers’ reliance on investments make them vulnerable due to COVID-19, says GlobalData
“Investments held in corporate bonds are particularly vulnerable to the impacts of an economic recession, with some businesses likely to default on payments. Insurers operating in the US are heavily invested in corporate bonds compared to their UK counterparts, and US life insurers in particular are more vulnerable to the downturn – given almost three quarters of their investments are in this area. This is especially true in the life sector where there is a 49.7 percentage-point difference between investments in corporate bonds. It also illustrates that the UK has a certain amount locked up in the relatively safe government securities, while this is not available in the US.”
US expects insurers to cover COVID vaccine without copays
Health insurers cover vaccines recommended by the Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices. They’re considered a preventive service, and the Affordable Care Act requires insurers cover them at no charge to patients. A range of screening tests, immunizations and birth control for women are already covered under the Obama-era Affordable Care Act. However, the Trump administration is pressing the courts to overturn Obamacare as unconstitutional.