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Buffett ends suspense, reveals Berkshire’s $6.7 billion stake in insurer Chubb
Warren Buffett, chairman, Berkshire Hathaway Buffett’s Berkshire is...
Digital Competition Bill: Strengthen existing regulatory bodies like CCI, NCLAT, says Nasscom
While there may be an enforcement concern, it is pertinent to...
Covid-19: AIA Singapore invests more than S$5 million to support employees, local workforce and the wider community
Wong Sze Keed, Chief Executive Officer of AIA Singapore, said, “The COVID-19 pandemic has highlighted the important role insurers play in society. It is a chance for life insurers like us to show Singaporeans that we care about their holistic wellness and safeguarding every aspect of their health and wellbeing when they need it the most. We have taken it upon ourselves to find new and timely ways to put our people–our employees, insurance representatives, customers and the wider Singapore community — first by providing them with peace of mind whilst living amid this uncertainty. We will continue to honour this commitment in 2021, delivering on our promise of enabling healthier, longer, better lives.”
Some vaccine doses kept too cold, Pfizer having manufacturing issues, U.S. officials say
Officials are investigating whether storing the vaccines at excessively cold temperatures poses a safety or efficacy risk, he said.
Ransomware attacks on the rise even as cyber insurers scale back
Ransomware attacks typically involve the infection of computers with malicious software, often downloaded by clicking on seemingly innocuous links in emails or other website pop-ups and leaving users locked out of their systems, with the demand of a ransom to be paid to restore computer functions.
Paul Bantick, Beazley’s global head of cyber and technology, said that ransomware attackers were demanding more money than in the past and had also become more creative in ways in which they sought to extort money.
“COVID-19, coronavirus, vaccines, all these things, they have enabled people to target organizations,” Bantick said.
Virus spread like wild fire over ineffective policy implementation: SC
The bench, also comprising Justices R S Reddy and M R Shah, said that frontline health care workers including doctors and nurses are already exhausted physically and mentally due to tireless work for eight months and some mechanism may be needed to give them intermittent rest.
Verdict in the first US Coronavirus Business Interruption Trial to set the tone for more than 1,300 other lawsuits against insurers
Overall, the industry could face at least $100 billion in total underwriting losses from the pandemic, Lloyd’s executives predicted earlier this year. The industry has been on a winning streak so far, persuading judges to throw out more than four times as many business-interruption suits as they’ve allowed to proceed, according to Baker’s analysis.
Lawsuits over lost-revenue claims have been filed by all sorts of businesses, from the National Football League’s Atlanta Falcons and the National Basketball Association’s Houston Rockets to hair salons and doctor’s practices. The stakes for the insurance industry have escalated as more cases are filed. In the second quarter — after the initial shutdowns — Chubb Ltd. reported $1.16 billion in Covid-19 losses.
Coronavirus nearly three times more deadly than flu: study
Catherine Quantin, a professor at the University Hospital of Dijon and the French national health institute INSERM who jointly led the study, said the difference in death rates was “particularly striking” given the 2018/19 flu season was the deadliest France had seen in five years.
EU watchdog wants a more hands-on approach to insurer capital
Insurance Europe, an industry body, said EIOPA’s “disappointing” proposals would make the capital rules more conservative and create a less competitive sector.
The review should focus on what needs fixing and not be an overhaul as proposed by EIOPA with its “very extensive list” of potential changes, Insurance Europe said.
Keep blood sugar in control to stay fight Covid-19: Experts
People with high blood sugar levels have less than normal blood flow, which makes it difficult for the body to harness nutrients, natural defences meant to protect the body against several infections and promote healing.
Dutch court case claims Shell’s operations violate human rights
The case brought by the Dutch arm of Friends of the Earth, Milieudefensie, links the oil major’s stance on climate change with human rights. The ruling will also have implications for Shell’s European peers as pressure mounts on polluting energy companies to step up the fight against global warming.
Over two weeks of court proceedings, lawyers for Milieudefensie have argued that Shell is violating human rights by extracting fossil fuels and undermining the Paris Agreement’s aim of keeping temperature rises below 1.5 degrees Celsius. Shell says it’s playing its part in addressing climate change, which can only be tackled through collaboration and not court action.
UN head stresses need of virus vaccine for all nations
Across the globe we have seen how populist approaches that ignore science have misled the public,” Guterres said. “Coupled with false news and wild conspiracies, things have become manifestly worse.”