There were eight acts of piracy and hijackings in the first half of...
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Without backup plans, global IT outages will happen again
“I’m sure the regulators globally are looking at this. There is...
Insurers face business interruption claims after global tech outage
"Some cyber insurance policies exclude non-malicious events, and...
China, India miss UN deadline to submit plans for cutting emissions
The world’s two most populous countries are among dozens that failed to provide an update on their targets for curbing the release of planet-warming gases to the UN climate change agency by July 31, they said on Saturday.
China is the country with the world’s highest emissions, while India is third. The United States (US), which submitted its new target in April, is the second-biggest global emitter.
Myanmar has the highest coronavirus mortality rate in Southeast Asia
In the last seven days, the death rate per capita in Myanmar has surpassed that in Indonesia and Malaysia and has become the worst in Southeast Asia. The country’s healthcare system was quickly overwhelmed by new COVID-19 patients.
Medical oxygen supplies are dwindling, and the government has restricted its private sales in many places, saying it is trying to prevent backlogs. But this has led to widespread accusations that supplies are being channeled to government supporters and military hospitals.
Irish approves laws to make bankers and insurers more accountable
The new regime will apply to senior individuals in banks, insurance firms – excluding reinsurance companies – investment firms which are authorised to hold client monies or assets and third country branches of those categories.
The new laws will allow for additional fines and regulatory findings against individuals.
Ship tied to Israeli billionaire attacked off Oman, 2 killed
“At the time of the incident the vessel was in the northern Indian Ocean, traveling from Dar es Salaam to Fujairah with no cargo onboard,” the statement from Zodiac Maritime said, naming ports in Tanzania and the United Arab Emirates respectively.
Global hunger to rise in 2021 due to income losses from Covid-19 pandemic
Most of the additional people the USDA expects to fall into food insecurity this year are in Asia, which accounts for 72% of the increase. Bangladesh, India, Pakistan, and Indonesia will see particularly large jumps in the number of people without enough food, according to the report. Sub-Saharan Africa accounts for 21% of the global increase in undernourished people.
Asian nations impose stricter COVID-19 restrictions due to Delta outbreaks
The U.S. Centers for Disease Control and Prevention (CDC) has described Delta to be as contagious as chickenpox and could cause severe illness, the New York Times reported, citing an internal CDC document. read more
Detected in some 96 countries, the Delta variant, first identified in India, has become a concern globally, prompting even countries with advanced vaccination programmes such as the United States, Israel and Singapore to re-impose some restrictions.
Lloyd’s of London plans electric vehicle, hydrogen insurance in climate change fight
Lloyd’s will design insurance for electric vehicles which will cover a breakdown in internet connections, and look at ways to insure hydrogen transportation, it said in a report.
Howden acquires Italian independent broker
Establishing operations in Italy adds a further market to Howden’s growing European platform, enabling them to deliver service to both local and multinational clients supported by the full weight of Howden’s specialty offering.
Record global InsurTech funding balloons to $4.8 billion in Q2, H1 2021 investment exceeds full-year flow in 2020:Willis Towers Watson
InsurTechs focused on distribution accounted for 55% of start-up deals, and for 10 of the 15 mega-rounds. Most of the distribution InsurTechs target reduced dependence on agent channels.
Of all Q2 deals, 73% were for P&C-related InsurTechs, while 43 companies raised funds for L&H technology. Funds were raised by companies from 35 countries, including new entrants Botswana, Mali, Romania, Saudi Arabia, and Turkey.
China urges insurers to increase offerings for natural disaster coverage
Chinese insurers have received a total 376,200 claims relating to the Henan floods as of July 26, the CBIRC said, and the total payouts so far reached 492 million yuan.