Data from the researcher, Synapse Labs Pvt. Ltd., may have been...
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EU markets watchdog signals a hard line on new ESG disclosures
The European Securities and Markets Authority acknowledged that...
Flooding In Northern Bangladesh displaces 40,000 people
“Heavy rains in the Indian upstream region mean that the suffering...
After COVID revenue collapse, Canadian municipalities face insurance premium spike
Cities need insurance to protect against claims in the event of accidents on municipal properties or roads, and to deal with risks including cyber attacks and natural disasters – so forgoing coverage is not an option.
Accident-related lawsuits against cities and settlements have risen alongside cyber attacks and natural disasters, both domestically and globally, even as bond yields have slid, resulting in more stringent underwriting standards and higher premiums around the world.
South African farmers dream of drought cover on climate front line
Now a plan has been formulated by insurers and the government for a 3.2 billion rand ($223 million), 10-year state subsidy scheme aimed at fixing the market’s problems, according to a South African Insurance Association (SAIA) document seen by Reuters that outlines the previously unreported proposals.
Work from home fueling cyberattacks, says global financial watchdog
“Most cyber frameworks did not envisage a scenario of near-universal remote working and the exploitation of such a situation by cyber threat actors,” the FSB said in a report to G20 ministers and central banks.The report is a first take on lessons learned from the pandemic’s impact on financial stability.
Seafarers’ slow Covid-19 vaccinations endanger maritime workers, hit global trade
The shipping industry is sounding the alarm as infections increase and some ports continue to restrict access to seafarers from developing countries that supply the majority of maritime workers but can’t vaccinate them.
Pfizer agrees to pay $345 mln to resolve EpiPen pricing lawsuit
The litigation followed a public outcry in 2016 after Mylan, which owns the rights to market and distribute the devices, raised the price of a pair of EpiPens to $600, from $100 in 2008, putting it in the center of an ongoing U.S. debate over the high cost of medicines. The lawsuit accused Mylan and Pfizer, which manufactured the EpiPen for Mylan, of engaging in anticompetitive conduct that allowed them to maintain a monopoly over the market for the devices and their profitable revenues.
Biogen Alzheimer’s drug hits roadblocks with some hospitals, insurers
Several Blue Cross Blue Shield health insurance plans, including those in Michigan, North Carolina and Pennsylvania, have said there is insufficient evidence of Aduhelm’s benefit for patients and they will not provide coverage for the drug.
Biogen said in a statement that the several Blues plans’ “characterization of Aduhelm as experimental and investigational is inaccurate and misleading.”
Welfare fraud and errors cost UK a record 8 bln pounds during pandemic
The government had to deal with an increased risk from organised crime since the start of the pandemic, the NAO said. Fraudsters hijacked people’s identities in order to make fictitious claims with payments routed into bank accounts they could access, the watchdog said.
U.S. launches online hub to help ransomware victims
The new website, www.StopRansomware.gov, is an initiative led by the Justice and Homeland Security departments.
The launch of the new website and the $10 million reward come on the heels of a ransomware attack earlier this year against the Colonial Pipeline Co. that led to widespread shortages at gas stations along the East Coast of the United States. The Justice Department was later able to help Colonial Pipeline recover some $2.3 million in cryptocurrency ransom it paid to hackers.
About $350 million in ransom was paid to cyber criminals in 2020, a more than 300% increase from the previous year, the department said.
Floods leave at least 108 dead in Europe
Joerg Asmussen, managing director of the German Insurance Association (GDV), said the prevalence of storms, floods, heavy rain and hail in Germany this year could make it one of the most damaging since 2013.
Heavy rain and hail in June caused an estimated insurance loss of 1.7 billion euros ($2 billion), he said by email.
Counting the costs: South Africa uninsured businesses wrecked by unrest
Many of South Africa’s small, medium-sized and micro enterprises (SMME) are not insured, compounding any attempts of recovery of those damaged in the unrest.