Fitch also forecasts an improvement in underlying profitability for...
Category:
Eco/Invest/Demography
Latest
Bima Manthan: IRDAI to include state insurance plans in revised rural and social obligation for the industry
The mission of achieving maximum insurance inclusion received...
DGCA slaps Rs 1.10 crore penalty on Air India for safety violations
The regulator carried out a detailed probe after receiving a...
Bayer to pay up to $10.9 billion to settle bulk of Roundup weedkiller cancer lawsuits
As of April, the company had been sued by 52,500 U.S. plaintiffs who blame glyphosate-based weedkillers for their cancer, up from 48,600 in February. Law firms had lined up tens of thousands of additional claimants with cases yet to serve.
U.S. FAA finalizes Boeing 737 MAX inspection directive
The 737 MAX, Boeing’s best-selling plane, has been grounded since March 2019, after crashes in Indonesia and Ethiopia killed 346 people.
Boeing said it supports “the FAA’s airworthiness directive, which makes our recommended action mandatory” to address the possible impact of electrical energy on the plane.
10,000 passengers join EasyJet lawsuit over Data Breach
Victims are entitled to as much as 2,000 pounds ($2,500) in compensation, meaning the case could be worth as much as 18 billion pounds.EasyJet said last month that the email addresses and travel data of about 9 million customers were taken by hackers in one of the biggest privacy breaches to hit the airline industry
Global investors including insurers urge Brazil to stop deforestation
The 25 European signatories include Norway’s Nordea Asset Management and the Church of England, which has a 2.8 billion pound ($3.5 billion) pension fund. The UK’s Legal & General Investment Management (LGIM) is among the largest investors with 1.2 trillion pounds under management.
The letter does not spell out consequences if Brazil’s government does not take action, but seven European financial firms told Reuters last week they could divest from Brazil-linked holdings if environmental destruction continues. Many of those firms also signed the letter to embassies.
France to rein in reduced-time work scheme as covid crisis eases
From Oct.1,workers will get 60% of their normal gross wages under the scheme, down from 70% currently, President Emmanuel Macron told employers and unions. Meanwhile, the state will reimburse employers up to 60% of the cost, instead of 85% currently.
However, a company can only tap the existing furlough arrangements for up to six months, and on Wednesday the government also outlined a new longer-term programme that is more generous for the employee and company, but demands commitments to safeguarding jobs.
The programme will allow workers to receive up to 70% of gross wages, with the state reimbursing firms up to 85% if the programme is tapped before July and 80% afterwards.
CCRIF pays Guatemala $3.6 mn under its excess rainfall parametric insurance policy
CCRIF currently has 22 member governments of which three are from Central America – Nicaragua, Panama, and Guatemala. Since its inception in 2007, CCRIF has made a total of 43 payouts for 21 events (earthquakes, tropical cyclones, and excess rainfall events) to 14 member governments totalling US$155.8 million. CCRIF’s payouts are made within 14 days of an event, allowing governments to begin to address their most pressing needs and close the liquidity gap.
Deep sea mining could destroy undiscovered species, says Ocean Panel
Sea floor nodules contain battery metals needed to fuel the world’s transition to clean energy, but trawling the sea floor for them is likely to disrupt ecosystems about which there has been scant research, as they are very difficult to reach.
One meter or two? How social distancing affects COVID-19 risk
The WHO says keeping a distance of at least one meter helps reduce the risk of the coronavirus spreading in the small liquid droplets that people spray out when they cough, sneeze and talk.
These droplets may contain the virus, and “if you are too close, you can breathe in the droplets”, the WHO says.
COVID-19 Pandemic may lead to 95,000 additional TB deaths in India: Study
The modelling study, published in the European Respiratory Journal, estimates at least 110,000 additional deaths from TB in India, China, and South Africa unless health services maintained and strengthened
Fidelis, Aon and Marsh develop Marine Cargo Clause aiming to combat modern slavery
“Forced labor in all its forms is an extreme expression of inequality and injustice. The insurance industry is committed to do all it can to prevent association with the abhorrent practices of modern slavery. We sometimes think that slavery is a thing of the past, but it is not – it is real and present in all societies and we want to do our part to root it out,” said Charles Mathias, group executive director & group chief risk officer, Fidelis Insurance.