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France uses tough, untested cybercrime law to target Telegram’s Durov
Pavel Durov, CEO, Telegram The so-called LOPMI law, enacted in...
Howden forays into Japanese captive consulting and management markets with acquisition of Foresight
Takuya Aibe as CEO of Howden Japan’s retail business Foresight is...
COVID-19 numbers in SE Asia plateaued over past month mainly due to cases in India remaining stable: WHO
The highest number of new cases were reported from India (278,631 new cases; 20.2 new cases per 100,000; 2 per cent decrease), Indonesia (225,635 new cases; 82.5 new cases per 100,000; 18 per cent decrease), and Thailand (141,191 new cases; 202.3 new cases per 100 000; 20 per cent increase).
In the region, the highest numbers of new deaths were reported from Indonesia (11,373 new deaths; 4.2 new deaths per 100,000; 9 percent decrease), India (3511 new deaths; 0.3 new deaths per 100,000; 8 percent decrease), and Myanmar (2045 new deaths; 3.8 new deaths per 100,000; 22 percent decrease).
Amazon partners Marsh to offer product liability insurance to sellers
Amazon announced it is creating the insurance network-Amazon Insurance Accelerator- along with implementing a new policy of paying shoppers’ injury and damage claims up to $1,000.
The online marketplace now requires third-party sellers to obtain product liability coverage after reaching $10,000 in sales within one month on Amazon.
Delta tears across US, cases and hospitalisations at six-month high
Nationwide, Covid-19 cases have averaged 100,000 for three days in a row, up 35 per cent over the past week, according to a Reuters tally of public health data. The surge of the disease was strongest in Louisiana, Florida and Arkansas.Hospitalisations rose 40 per cent and deaths, a lagging indicator, registered an 18 per cent uptick in the past week with the most fatalities by population in Arkansas.
Munich Re remains bullish on India despite hit hard with Covid-19 mortality claims
“In life and health reinsurance business, the claims clearly exceeded the our expectation of €140 million of virus-related losses in the second quarter, mainly due to the high mortality rate in India and South Africa,” he said
German and Chinese insurers endure their costliest natural disasters as IPCC confirms rise in extreme weather events: Aon report
Total economic losses due to catastrophic events across the globe exceed $52 billion. Seasonal monsoon flooding and associated convective storms continued in India throughout July, including a particularly intense spell from July 22-28. Hundreds of people were killed in July as the seasonal death toll rose to 534. The total economic loss in India increased to at least $1.6 billion; most of which is uninsured.
Lloyd’s chooses 11 Start-Ups for developing products on claims and cryptocurrencies
For the seventh cohort, the InsurTech start-ups have been selected based on solutions geared towards three key themes: claims, data and models, and cryptocurrencies. Additionally, for the second cohort in a row, the Lloyd’s Lab accepted wildcard entrants who presented solutions outside of the core themes.
These start-ups focus on important areas such as anti-money laundering, robotics and construction. The teams will be working to create insurance products and solutions which can be adapted to the Lloyd’s market.
Alibaba blasted by state media despite firing manager accused of sex assault
State media and online commentators were overwhelmingly critical of Alibaba’s perceived delay in handling the incident.
“Alibaba could not offer an answer that satisfies public opinion for this ham-handed inaction,” said an editorial in the Global Times tabloid, published by the state-run People’s Daily.
Prince Andrew sued in NY court for alleged sex abuse
Virginia Giuffre claimed in suit filed Monday in Manhattan federal court that the British royal sexually abused her at Epstein’s home in New York, on his private island in the U.S. Virgin Islands and in the London home of Ghislaine Maxwell, the British socialite who is in jail awaiting trial on charges she helped Epstein traffic underage girls for sex.
Swiss Re appoints AIG’s Marilyn Blattner-Hoyle as global head Trade Finance
Marilyn Blattner-Hoyle is a highly regarded leader in the broader Structured Trade Credit and Political Risk market and most recently held the position of Global Head of Trade Finance at a large international insurer.
Bayer loses another appeal against Roundup cancer verdict
In the latest ruling, the appeals court said Monsanto displayed an “intransigent unwillingness to inform the public about the carcinogenic dangers of a product it made abundantly available at hardware stores and garden shops across the country.”
“Monsanto knew that studies supporting the safety of Roundup were invalid when the Pilliods began spraying Roundup in their yards, wearing no gloves or protective gear, spurred on by television commercials.”
“We respectfully disagree with the Court’s ruling as the verdict is not supported by the evidence at trial or the law,” a Bayer spokesperson said. “Monsanto will consider its legal options in this case.”