Insurance industry sources said on Wednesday additional war risk...
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New mpox strain is changing fast; African scientists are ‘working blind’ to respond
A new strain of the virus, known as clade Ib, has the world’s...
WHO launches global strategic preparedness & response plan to contain Mpox outbreak
The plan aims to curtail “human-to-human transmission of mpox...
EVs double market share in Europe
All-electric vehicles accounted for 7.5 per cent of new car sales in Europe in the three months from April through June, against 3.5 per cent during that period last year.
In absolute terms, sales of battery electric vehicles more than tripled across Europe to reach 210,298 cars.
Intel chief warns chip shortage could continue for up to two years
The global chip shortage comes as demand for cars has spiked during the global economy’s recovery from the coronavirus crisis, driving up prices of new and used vehicles.
Some carmakers have adapted to the chip shortage by dropping features from their models, while others have built vehicles without the necessary chips and then parked them until their assembly can be finished later.
Insured losses from western German floods may total 4-5 billion euros – trade body
Gemany’s insurance industry association GDV said the floods in the states of North Rhine-Westphalia and Rhineland-Palatinate are likely to exceed the 4.65 billion euros of damage recorded following a deluge in August 2002.
As US wildfire threat grows, insurance capacity shrinks
Most wildfire losses that have hit the insurance market originated from California utility companies due to inverse condemnation, which states that private property owners are entitled to compensation if their property is damaged by the government or utilities.
While all U.S. states have such doctrines in place, California has been the only one to apply it for utility-related fires.
Aki Hussain to succeed Bronek Masojada as Group Chief Executive in Hiscox
Hamilton: Specialist global insurer Hiscox announces today that after 21 years as Group Chief Executive, Bronek Masojada has informed the Board of his intention to retire at the end of the year. Following a thorough succession process, the Board has appointed Aki...
J&J forecasts $2.5 bln in 2021 COVID-19 vaccine sales, sets lower production target
J&J estimated its vaccine price at $5 per dose in the first half of the year and said it would likely be as much as $8 by year end. The healthcare conglomerate, which promised it would not make a profit on the vaccine during the pandemic, said the fluctuating price reflected the net costs of the vaccine and production volumes. The $8 price is a bit lower than previous indications. South Africa has said it is paying $10 per dose for both the J&J and the two-shot Pfizer/BioNTech vaccines. AstraZeneca Plc is charging $3 per shot for its two-dose vaccine.
Death rates soar in Southeast Asia as virus wave spreads
A variety of factors have contributed to the recent surge in the region, including people growing weary of the pandemic and letting precautions slip low vaccination rates, and the emergence of the delta variant of the virus, which was first detected in India, said Abhishek Rimal, the Asia-Pacific emergency health coordinator for the Red Cross, who is based in Malaysia.
Shell to appeal landmark climate case in the Netherlands
The ruling came after Milieudefensie, the Dutch arm of Friends of the Earth, sued the company for violating human rights. The court agreed, saying Shell must reduce its total emissions by 45% by 2030 from 2019 levels. That compares with Shell’s own target of reducing the intensity of its greenhouse gas emissions by 20% from 2016 levels.
Saudi Aramco facing USD 50M cyber extortion over leaked data
A page accessed by the AP on the darknet – a part of the internet hosted within an encrypted network and accessible only through specialized anonymity-providing tools – claimed the extortionist held 1 terabyte worth of Aramco data. A terabyte is 1,000 gigabytes.
The page offered Aramco a chance to have the data deleted for USD 50 million in cryptocurrency, while another timer counted down from USD 5 million, likely in an effort to pressure the company. It remains unclear who is behind the ransom plot.
U.S. judge narrows focus of antitrust suit over $30 bln Aon-Willis merger
The DOJ had alleged that combining the two large insurance brokers would harm competition in reinsurance broking, retirement and pension planning and private retiree multicarrier healthcare exchanges. But the divestitures mean those no longer will be issues in the trial, according to the order