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Singapore lawmakers amend bill to stop Allianz’s insurance deal
The move comes two days after the government — in a rare move —...
Chinese cyber association calls for review of Intel products sold in China
The industry group goes on to state that operating systems embedded...
Accenture says ransomware attack had no impact, withholds comment on data
Accenture said in a statement Wednesday that it had “identified irregular activity in one of our environments” and ” immediately contained the matter and isolated the affected servers.” It did not specify when the incident occurred — or acknowledge that it was ransomware. But the description of its response was consistent with ransomware.
China’s Communist Party unveils new plan for law-based governance
The new focus on governance comes in the midst of the on-going crackdown on China’s major corporates, including Alibaba, Tencent and the car hailing app, Didi, which resulted in a big drop in the shares of many Chinese firms listed in the US and Hong Kong markets.
WHO to decide on authorising Indian-made vaccine
Dr. Mariangela Simao, a WHO assistant director-general for vaccines, says the UN health agency’s assessment of the Bharat Biotech vaccine was “quite advanced” and officials hoped for a decision by mid-September.
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.