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Eco/Invest/Demography

Insolvencies, cyber threats and ESG scrutiny are top risks for directors and officers in 2021:Allianz 

Forthcoming insolvency warnings are among the top concerns for the D&O insurance sector as insolvency is a key cause of D&O claims – insolvency administrators usually look to recoup losses from directors.

According to Euler Hermes, the bulk of insolvencies is still to come through the first half of 2021, with its global insolvency index likely to hit a record high for bankruptcies, up 35% by end of 2021, and with top increases expected in the US, Brazil, China and core European countries such as UK, Italy, Belgium and France.

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Mauritius shipping disaster caused by lack of attention to safety – owner

There was a lack of awareness of the dangers of navigating close to the coast … and insufficient implementation of regulations that must be observed in order to safely execute voyages,” the company said, based on its interviews with crew members.

The company will ban private use of cell phones during working hours on bridges and install high-speed communications systems on all its ships, as well beef up training, it said.

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Launch of the first parametric tropical cyclone insurance product in Africa

The African Risk Capacity (ARC) Group(ARC) has developed a model capable of correctly estimating the risk and economic losses resulting from tropical cyclones, which is suitable for SOOI countries, such as Mozambique, Madagascar, Comoros, Mauritius, Seychelles and Tanzania.
“Our goal is to continue to diversify our insurance product offering in order to effectively meet the needs of our Member States. This new offer will allow our Member States to better anticipate and manage extreme weather events while ensuring that the impact of such events on the population is mitigated, ” said Ibrahima Cheikh Diong, Deputy Secretary General of the United Nations. and Chief Executive Officer of the Panafrican Mutual of Risk Management Group ( ARC Risk Capacity Group ).

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Gas leak in AP unit operational negligence, says NGT; directs safety audit of pharma units

A bench headed by NGT Chairperson Justice Adarsh Kumar Goel held that the cause of Benzimidazole gas leakage at Sainor Life Sciences factory at Parwada industrial area was operational negligence of the management and its employees,

There were serious lapses in not following standard safety norms under the said rules requiring onsite and offsite emergency plans, conducting mock drills every six months and undertaking manufacture of Benzimidazole without consent.

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Stop misuse, wastage of potable water: NGT

The tribunal was hearing a plea filed by city resident Mahesh Chandra Saxena seeking a direction to stop misuse and wastage of the potable water forthwith and to install CCTV cameras at the water filling points of Delhi Jal Board.The applicant noted that there is indiscriminate misuse and wastage of potable water by government agencies.

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AstraZeneca says its vaccine should be effective against new coronavirus variant

“AZD1222 (AstraZeneca’s vaccine candidate) contains the genetic material of the SARS-CoV-2 virus spike protein, and the changes to the genetic code seen in this new viral strain do not appear to change the structure of the spike protein,” an AstraZeneca representative said in an email.
India is likely to approve Oxford/AstraZeneca’s coronavirus vaccine for emergency use by next week after its local manufacturer submitted additional data sought by authorities, two sources with knowledge of the matter told Reuters on Tuesday.

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