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Bank of England warns insurers risk unexpected COVID losses

“Our work has highlighted that a number of firms have not been able to accurately identify and track COVID exposed policies, leading to unexpected COVID losses,” the BoE said in a letter to insurers.

“Firms should ensure that this uncertainty is reflected in the reserve estimates and that, where possible, appropriate procedures are put in place to identify and track exposed policies.”

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Should Millennials and Gen Z Get the Vaccine First?

But what if vaccinating the elderly first isn’t the best way to minimize fatalities? A recently published (but not yet peer-reviewed) model from three academics at Khalifa University suggests priority should be accorded to groups with the highest number of daily in-person interactions, since that amplifies the vaccine’s effectiveness by reducing infections (and mortality) both among the vaccinated group and those they come into contact with.

According to their model, proper prioritization can reduce total fatalities by up to 70%.

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Trust in vaccines vital to end pandemic, WHO says

But with the pandemic continuing to surge after already claiming some 1.3 million lives, she voiced deep concern at growing signs of vaccine hesitancy, with misinformation and mistrust coloring people’s acceptance of scientific advances.
More needed to be done to boost public “confidence in the fact that the vaccines that WHO is involved in evaluating, we will not be compromising on safety or efficacy,” she said.

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WeWork losses mount but ‘seismic shift’ in office use seen helping recovery

The pandemic has accelerated a “seismic shift” in the office sector that has put flexibility – an industry byword for the short-term leases the company embraces – and WeWork at the forefront, the memo signed by Chief Executive Sandeep Mathrani and Chief Financial Officer Ben Dunham said.

“This is our moment, and I know that together, we will continue to define the future of work,” they said.

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Olympic leaders raise hopes for safe Tokyo Games with fans

News from pharmaceutical firm Pfizer on Monday of promising trials of its vaccine followed Tokyo hosting an international gymnastics competition at the weekend.

Having seen now the different (event) tests in Japan I think we can become more and more confident that we will have a reasonable number of spectators then also in the Olympic venues, IOC President Thomas Bach said.

Asked if the IOC could itself try to acquire vaccine doses for Olympic participants, Bach said contact is ongoing with the World Health Organization and a number of the manufacturers. There are different options under consideration, how vaccines can be made available, he said.

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North Korean, Russian hackers target COVID-19 researchers: Microsoft

The software company said a Russian hacking group commonly nicknamed “Fancy Bear” – along with a pair of North Korean actors dubbed “Zinc” and “Cerium” by Microsoft – were implicated in recent attempts to break into the networks of seven pharmaceutical companies and vaccine researchers in Canada, France, India, South Korea, and the United States.

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Vaccine alliance secures $2 billion to fund COVID shots for poor nations

The European Commission, France, Spain, South Korea, the Bill & Melinda Gates Foundation and others had in recent weeks pledged another $360 million to the AMC, the alliance said, bringing total funding over the $2 billion target for this year.

Another $5 billion will be needed in 2021 to procure COVID-19 vaccine doses as they come through development and are approved by regulators, GAVI said in a statement.

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