“Water is the canary in the coalmine of climate change. We receive...
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Lloyd’s of London must stop supporting fossil fuel expansion says NGO
“Lloyd’s will continue to follow government policy and regulatory...
Russian strikes on Ukraine’s ports and ships push insurance rates up
Insurance sources said on Thursday the war premiums had jumped...
Canada Energy firm gets nod to keep insurers’ names confidential
Pressure from environmental groups has prompted some major insurance companies to halt support for energy projects.
EU pledges extra 4 billion euros in international climate finance
The EU already contributes $25 billion per year in climate finance, von der Leyen said.
Climate finance is expected to be a decisive issue at the United Nations’ COP26 summit in November, where world leaders will attempt to unlock commitments to cut emissions faster and stave off catastrophic climate change. With seven weeks to go until COP26, finance remains a sore point.
Most agricultural funding distorts prices, harms environment: UN report
UN: Around 87% of the $540 billion in total annual government support given worldwide to agricultural producers includes measures that are price distorting and that can be harmful to nature and health. That is the main finding of a new UN report calling for...
Large claims push up Cyber premiums by 39% for all European industries: Marsh
Malicious cyber events accounted for 80% of cyber claims made in Continental Europe last year, up from 70% in 2019,according to a report published by Marsh, the world’s largest insurance broker and risk advisor, in collaboration with Microsoft, international law firm CMS, and Kivu, a global cyber security firm,
Ransomware attacks accounted for 32% of cyber claims in 2020 – more than double that recorded for 2016-2020 (14%). Overall, cyber insurance claims across Continental Europe rose by 8% in 2020.
Uber drivers are employees, not contractors, says Dutch court
The Amsterdam District Court sided with the Federation of Dutch Trade Unions, which had argued that Uber’s roughly 4,000 drivers in the capital are in fact employees of a taxi company and should be granted benefits in line with the taxi sector.
Australian media outlets liable for Facebook comments, court finds
“The acts of the (media companies) in facilitating, encouraging and thereby assisting the posting of comments by the third-party Facebook users rendered them publishers of those comments,” Justice Rothman found.
At the time the comments were published, Facebook did not allow page moderators to turn off comments on posts, however it has changed that.
AXA XL appoints Vanessa Karvela as Head of Client Management & Business Development, APAC & Europe
In this role, Karvela will be responsible for developing and implementing AXA XL’s client experience strategy in APAC & Europe in close collaboration with Country Leaders.
Immunized but banned: EU says not all Covid vaccines equal
Although AstraZeneca vaccine produced in Europe has been authorized by the continent’s drug regulatory agency, the same shot manufactured in India hasn’t been given the green light. EU regulators said AstraZeneca hasn’t completed the necessary paperwork on the Indian factory, including details on its production practices and quality control standards.
Hannover Re expects higher prices in P&C 2022 reinsurance renewals
The Asia-Pacific region is evolving into one of the largest global insurance markets. This growth holds the promise of further significant business opportunities, in part because the insurance density here is still lower than in more mature markets. Not only in property and casualty reinsurance but also in the health and provision sector, appreciable growth rates can be anticipated over the medium to long term, which will also benefit reinsurers.
Ida losses to range from $17 to $ 25 billion:AIR
Included in the estimates are losses to onshore residential, commercial, industrial properties, and automobiles for their building, contents, and time element coverage, as well as estimated insurance take-up rates for wind and flood across the entirety of Ida’s track, including the flooding that occurred in the Northeast.
AIR’s losses do not include any estimate of losses from the National Flood Insurance Program, or any losses from offshore assets. The industry loss estimates also reflect an adjustment to account for increased material and other repair costs in the current construction market.