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Apple, Amazon fight off $600 million UK lawsuit over alleged ‘collusion’
The lawsuit was brought by consumer law academic Christine Riefa on...
NHS ransomware hack caused patient harm in UK, data shows
Ransomware attacks have surged by some 300% in the last decade, and...
Biden bill to help millions escape higher health care costs
The sweeping climate, tax and health care bill sets aside USD 70 billion over the next three years to keep out-of-pocket premium costs low for roughly 13 million people, just before the reduced prices were set to expire in a year beset by record-high inflation Those...
World coronavirus cases fall 24%; deaths rise in Asia: WHO
The U.N. health agency said there were 5.4 million new COVID-19 cases reported last week, a decline of 24% from the previous week. Infections fell everywhere in the world, including by nearly 40% in Africa and Europe and by a third in the Middle East. COVID deaths...
Munich Re retains its top position, Asian reinsurers lose rankings in AM Best’s 2022 global list
All the top three Asian reinsurers, China Re, Korean Re and GIC Re, have lost their global rankings in 2022. Korean Re, which have been in the 10th place in 2020, fell off to 13th this year owing to currency position. Despite premium growth of around 7 per cent, China...
Climate risks make Australian home insurance costlier
On average, Australians living in high-risk areas like northern Queensland pay A$3,000 ($2,100) in annual premiums, or double that of residents in the rest of the country, an Actuaries Institute report released on Wednesday showed. Australia’s mounting extreme weather...
UK water supplier hit by ‘Extremely Concerning’ cyber attack, vulnerabilities of critical infra exposed
Cybersecurity experts said the breach was alarming but cautioned that it wasn’t clear how deeply the hackers had penetrated the system and whether there may have been controls in place that could have prevented unauthorized tampering with water supplies A company that...
Andrew Hare appointed as managing director, APAC at RMS
Hare said, “Climate change and natural catastrophes, such as flood, fire, earthquake, and typhoon, continue to wreak havoc on the Asia-Pacific region. Following the devastating effects of the Covid-19 outbreak as well as chronic supply-chain disruptions, heightened...
Global reinsurers shift their business mix into casualty & specialty primary lines for price comfort
Even with rate increases, most reinsurers view current pricing on property catastrophe risks still not high enough to compensate for the ongoing level of uncertainty, whereas casualty and specialty primary lines are more attractive as they comparatively generate more...
Scope of EU ban on Russian coal and fertilizers jolts insurers
“The prohibition relating to coal and to certain fertilizers refers both to the “purchase” and the “transfer” of these goods, irrespective of final destination,” Arianna Podesta, a European Commission spokeswoman, told Bloomberg in an email. Those sanctions extend to...
Caste in California: Tech giants confront ancient Indian hierarchy
The update came after the tech sector - which counts India as its top source of skilled foreign workers - received a wake-up call in June 2020 when California's employment regulator sued Cisco Systems on behalf of a low-caste engineer who accused two higher-caste...
Feeding the world’s coal addiction is more profitable than ever
Despite the huge deployment of renewables, burning coal remains the preferred way of generating electricity worldwide, accounting for 35% of all electricity.As Western producers take advantage of record prices – with companies such as Glencore pledging to operate the...