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Floods and landslides kill 60 people in Nepal
The National Disaster Risk Reduction Management Authority (NDRRMA)...
Ardonagh’s A$2.3 billion acquisition receives approval from PSC shareholders
“Combining the best of PSC and Ardonagh will strengthen the Group’s...
Tech companies pledge billions in cybersecurity investments
Google has committed to invest $10 billion in cybersecurity over the next five years, money aimed at helping secure the software supply chain and expand zero-trust programmes.
China’s BRI project causing environmental degradation in South Asia, says report
South Asia is amongst the main regions likely to be hit severely by the negative environmental impact of climate change. BRI announced by Beijing in 2013, will exacerbate these trends, reported European Foundation for South Asian Studies (EFSAS).
The Environmental Kuznets Curve (EKC) report said the environmental trends in South Asia generally correspond to the development trajectory, that causes pollution through growing industrialisation, which has become one of the key environmental characteristics of South Asia, says EFSAS.
Lloyd’s forms partnership to deliver faster claims service through geospatial technology
The GEO platform will provide the Lloyd’s market with real-time analysis of global perils including storms, wildfires and flooding. The data, which includes innovative resolution drone imagery, allows Lloyd’s market insurers to instantly assess damages at a time when physical access to the risk location may be limited following a natural catastrophe.
Satellite imaging combined with other intelligence data sources is an innovative way of assessing damage to insured infrastructure and businesses. The technology will help insurers support customers around the world during periods of crisis, whilst reducing operational costs and the carbon footprint of insurers.
UN health agency sees virus cases leveling off
The assessment released Tuesday says there were about 68,000 new deaths reported globally, with Europe and the Americas registering increases of about 10 per cent.
he countries with the highest numbers of new cases were the United States, Iran, India, Britain and Brazil.
WHO also noted several recent studies that show licensed vaccines still provide protection against severe coronavirus disease, but that there is some evidence to show the shots are less effective at preventing people from becoming infected with the more contagious delta variant.
China’s coming data laws puzzles firms with more questions than answers
The data security law, which goes into effect on Sept. 1, requires all companies in China to classify the data they handle into several categories and governs how such data is stored and transferred to other parties.
Key categories include “national core data” and “important data”, for which mishandling could carry a penalties of up to 10 million yuan or even a criminal charge. But the government has not yet provided definitions for these or given further details on what type of data may fall into which category, lawyers say.
The world economy’s supply chain problem keeps getting worse
The cost of sending a container from Asia to Europe is about 10 times higher than in May 2020, while the cost from Shanghai to Los Angeles has grown more than sixfold, according to the Drewry World Container Index. The global supply chain has become so fragile that a single, small accident “could easily have its effects compounded,” HSBC Holdings PLC. said in a note.
Millions of Microsoft-stored data records mistakenly exposed
Among the 47 affected organizations were American Airlines, Ford, JB Hunt and public agencies such as the Maryland Department of Health and New York City’s public transit system.
They all used a Microsoft product called Power Apps, which allows for the creation of websites and mobile apps to interact with the public.
Munich Re unveils predictive technology for life insurers
ALLFINANZ Predictor allows clients to seamlessly deploy cutting edge predictive modelling technology into their underwriting process.
Tobias Frenz, Head of Digital Solutions Life & Health, Asia Pacific, Middle East and Africa for Munich Re said: “The co-creation of model development by Munich Re’s AI and Analytics team, and deployment with ALLFINANZ Predictor, has led to the successful launch of the first comprehensive predictive underwriting solutions for life and health insurance in Asia Pacific. This marks the beginning of a new era in underwriting using AI, rules and data to fundamentally transform the onboarding experience.”
Zurich Hong Kong launches domestic helper insurance plan
The cover can be bought by paying an annual premium of HKD946, equivalent to less than HKD2.6 a day.
The cover has multiple new protections, including replacement expenses caused by a domestic helper’s resignation within three months of the initial contract, or intentional/negligent injuries to the household children or elders, and service interruption cover if the domestic helper suffers from cancer or heart disease
Swiss Re and Climeworks sign world’s first 10-yr carbon removal purchase agreement
”To mitigate the risks of climate change, the world needs to scale-up carbon removal on top of, not instead of emission reductions. By partnering with Climeworks we can play to our strengths in this endeavour, as a risk taker, investor, and forward-looking buyer of climate solutions”, said Christian Mumenthaler, Swiss Re’s Group Chief Executive Officer and Co-Chair of the World Economic Forum’s Alliance of CEO Climate Leaders.