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Insured losses from CrowdStrike outage could reach $1.5 bln, CyberCube says
Reinsurance broker Guy Carpenter said that insurers may face claims...
Insured losses from CrowdStrike’s outage likely total $540 million to $1.08 billion, says insurer Parametrix
Fortune 500 firms excluding Microsoft to see $5.4 bln in...
Delta variant ‘greatest threat’ to US’ COVID-19 efforts: Dr Fauci
”Similar to the situation in the UK, the Delta variant is currently the greatest threat in the US to our attempt to eliminate COVID-19,” Fauci told reporters during a virtual news conference here.
However, the “good news” is that the US vaccines are effective against the Delta variant, said Fauci, the head of the National Institutes of Allergy and Infectious Diseases (NIAID).
World Bank, African Union join forces to expand access to Covid-19 vaccines
Strive Masiyiwa, African Union special envoy, said the collaboration between the World Bank and African institutions such as the Africa Import Export Bank and the Africa Centre for Disease Control would provide the capacity to vaccinate at least 400 million people or 30% of the total African population.
Mongolia,Bahrain and Seychelles battling a surge in Covid-19 infections despite administering Chinese vaccine
All three put their faith, at least in part, in easily accessible Chinese-made vaccines, which would allow them to roll out ambitious inoculation programmes at a time when much of the world was going without.
But instead of freedom from the coronavirus, all three countries are now battling a surge in infections.China kicked off its vaccine diplomacy campaign last year by pledging to provide a shot that would be safe and effective at preventing severe cases of Covid-19.
Swiss Re sells 6.6% in Phoenix for $610 mlnmillion
The sale was done in the context of a regular review and rebalancing of Swiss Re’s investment portfolio and is consistent with the Group’s overall investment strategy across equity and alternative investments.
New universal coronavirus vaccine may help prevent the next pandemic
To prevent a future coronavirus pandemic, the team designed the vaccine to provide protection from the current SARS-CoV-2 coronavirus and a group of coronaviruses known to make the jump from animals to humans.
Hybrid SIRC planned in 2021, Current EC of Singapore Reinsurers’ Association re-elected for 2021-22
“With the global roll-out of the COVID-19 vaccines, we are cautiously optimistic that by the time the 17th SIRC is staged in November, some of the Safe Management Measures and travel restrictions that are currently in place will be eased so that we can welcome some of our loyal international supporters back to our shores. Hence, our Secretariat is already drawing up plans for a ‘hybrid event’, combining a virtual segment similar to the SIRC 2020 Re-Mind event that was organised last year, with a scaled-down ‘live event’ that will incorporate all health and safety protocols aligned with the prevailing SMMs mandated by the relevant authorities.”Marc Haushofer, Chief Executive Officer, Asia Pacific & Executive Vice President of Validus Reinsurance Company, who has also been reelected as the SRA Chairman, for 2021-2022
9 months after lockdowns, US births see biggest decline since 1973
Coupled with the more than half a million Americans who have died from Covid-19, the drop in births will have long-term consequences for the population growth.
UK financial sector urges caution over any ‘work from home’ law
“This is going to evolve, clearly, and that’s why legislation would be inappropriate,” Bruce Carnegie-Brown, chairman of the Lloyd’s of London insurance market, told City & Financial’s City Week event.
“We have to allow different sectors of the economy to adapt in different ways to address this opportunity, frankly, for a more mixed economy of remote and physical work. The return to the office should be treated carefully so those working from home did not feel excluded.” Carnegie-Brown said
Italy’s Generali agrees to buy Axa’s insurance assets in Malaysia
Italy’s top insurer will buy the majority stakes that France’s Axa holds in two local joint-ventures with Malaysia’s Affin Bank, Generali said in a statement.The total consideration for the combined deals is around 262 million euros ($312 million), Generali said.
CFC Syndicate 1988 opens for trading
Unlike traditional syndicates, Syndicate 1988 will be futuristic – it will not have a box at Lloyd’s and through the application of technology will be operated with a lower level of resources than traditional syndicates. Matt Taylor, of CFC, is the Active Underwriter.