The bill aims to establish a comprehensive cross-agency mechanism...
Category:
International News
Latest
Scientists wary of bird flu pandemic ‘unfolding in slow motion’
“It almost seems like a pandemic unfolding in slow motion,” said...
Insurers achieve positive mid-year renewal outcomes, Global reinsurance capital reaches a new record of $695 billion by Q1 2024, says Aon
Aon Securities estimates that overall ILS capital increased to an...
Covid-19 Risks: Cyber-attacks and Data loss top concerns facing Directors & Officers: Report
Jennifer Tiang, Regional Cyber Leader for Asia at Willis Towers Watson, said: “The survey results reflect the growing realisation that cyber risk is not simply an issue to be handled by an organisation’s IT team. It is a much broader issue cutting across all spheres of business and necessarily draws together stakeholders from risk, legal and IT teams, as well as requiring awareness of all employees from the ground up and board oversight from the top down. From cyber-attack to data loss, the financial impacts of a cyber event can be catastrophic.”
Crowd ban in Olympics could cost reinsurers up to $400m: Fitch
“We estimate the total insurance cover for the Olympics to be about USD2.5 billion, comprising USD1.4 billion taken out by the International Olympic Committee and the Tokyo Organising Committee, USD800 million by broadcasters and USD300 million by other parties, such as sports teams, sponsors and hospitality. We believe reinsurers would bear most of the losses arising from this cover given that high-severity exposures are typically heavily reinsured,” said Fitch
‘Tremendously off track’ to meet 2030 SDGs: UN chief
Despite a 300 per cent increase in global food production since the mid-1960s, according to the Secretary-General, “malnutrition is a leading factor contributing to reduced life expectancy”.
He cited climate change as both “a driver and a consequence of hunger”, adding that “our war with nature” includes a food system that generates one-third of all greenhouse gas emissions and is also responsible for up to 80 per cent of biodiversity loss.
China tightens control over cybersecurity in data crackdown
Beijing is increasingly sensitive about control over information about its people and economy. Companies are barred from storing data about Chinese customers outside China. Companies including ride-hailing service Didi Global Inc, which recently made its US stock market debut, have been publicly warned to tighten data security.
Under the new rules, anyone in China who finds a vulnerability must tell the government, which will decide what repairs to make. No information can be given to “overseas organisations or individuals” other than the product’s manufacturer.
Ever Given container ship leaves Egyptian waters months after blocking Suez Canal
The ship was released on July 7 after protracted negotiations and an undisclosed settlement was reached between the Suez Canal Authority (SCA) and the Ever Given’s owners and insurers.
Canada orders rail safety measures to reduce risk of wildfires
The order will require both Canadian National Railway Co. and Canadian Pacific Railway Ltd. to take precautions against wildfires, including reducing train speeds, according to a Transport Ministry statement.On Friday, Nationally, trains will have to run at reduced speeds when there is extreme fire risk and when the outdoor temperature is high. CN and CP will also be required to come up with a fire risk mitigation plan and consult with indigenous communities about fire hazards.
Top WHO scientist flags ‘dangerous trend’ of mixing Covid-19 vaccines
Addressing a Covid-19 media briefing, Swaminathan said, “Really want to caution folks, because there is a tendency now for people in countries which enough availability of vaccines to voluntarily start thinking.”
“So it’s a little bit of a dangerous trend here where we’re in a data-free evidence-free zone as far as a mix and match there is limited data on mix and match. There are studies going on, we need to wait for that,” she added.
On the question of booster shots, WHO chief scientist said it will be a chaotic situation in countries if citizens start deciding when they should be taking a second, or a third, or a fourth dose.
Eight global insurers launch net-zero climate alliance
The companies, which include Europe’s top three insurers by premiums – Allianz, AXA and Generali – said the Net-Zero Insurance Alliance (NZIA) would work to shift underwriting portfolios towards net-zero greenhouse gas emissions by 2050.
Billionaire Branson soars to space aboard Virgin Galactic flight
The Swiss-based investment bank UBS has estimated the potential value of the space tourism market reaching $3 billion annually by 2030. Proving rocket travel safe for the public is key.
Virgin Galactic’s CEO Michael Colglazier.said 600 wealthy would-be citizen astronauts have also booked reservations, priced at around $250,000 per ticket for the exhilaration of supersonic flight, weightlessness and the spectacle of spaceflight.
British billionaire Richard Branson has said he aims ultimately to lower the price to around $40,000 per seat as the company ramps up service, achieving greater economies of scale. Colglazier said he envisions eventually building a large enough fleet to accommodate roughly 400 flights annually at the spaceport.
AXA introduces “LoveAssure Critical Illness Protection” Series in Hong Kong
According to the data from the Food and Health Bureau and the Hong Kong Hospital Authority, it is estimated that for people aged 65 or above, there is a worrying 5-8% chance of getting dementia and the prevalence of dementia doubles with every 5-year increment after age 65. Due to the irreversible nature of dementia and the heavy dependence on support services, the cost of care and the burden on caregivers will keep growing with an ageing population and increase of dementia cases.
Moreover, despite the improved cancer survival rate due to advancements in medical technology, cancer recurrence rate is still high, for example, colorectal and ovarian cancer recurrence rate can reach as high as 50% and 80% respectively2.