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Moody’s acquires Praedicat, adds Casualty and Liability modeling capabilities
“As losses from catastrophic events are increasing, insurers are...
GM to face big class action over faulty transmissions
Drivers said the vehicles shudder and shake in higher gears, and...
Delta variant sweeps Asia, prompting curbs as vaccination remains tepid
The variant, first detected in India in December last year, has spread to about 100 countries and the World Health Organisation warned recently that it could soon become the dominant form of the virus. It is also driving a spike in cases in Japan, casting a pall over this month’s Olympic Games.
Boeing 737 cargo plane makes emergency landing on water in Hawaii
“According to preliminary information, the US Coast Guard rescued both crew members. The FAA and National Transportation Safety Board will investigate,” the statement said.
Britain sets out vision for post-Brexit financial services
Brexit has largely severed the City’s ties with investors in the EU, triggering a shift in over 7,500 financial jobs from London to new hubs in the bloc, with Amsterdam leapfrogging London to become Europe’s biggest share trading centre.
European countries not supporting TRIPS waiver move to deal with COVID: Goyal
”We have tried in the WTO to promote waiver on TRIPS so that vaccines and essential medicines can be available to all in the world. “Sadly, the European countries, particularly, and many other developed countries are not supporting that move….Believe me, until all of us are vaccinated, until everybody in the world gets the benefit of modern technology, even the developed world will not be safe,” Union Minister Piyush Goyal said at a webinar of India Global Forum
Development bank climate finance spending hit $66 bln in 2020 – report
A total $38 billion, or 58%, of the total went to low and middle income countries, the 2020 Joint Report on Multilateral Development Banks’ Climate Finance said.
Additional finance committed by other sources alongside the development banks totalled $85 billion, while direct funding from private sources was $5.9 billion.
Boom, bust and bewildered: Bitcoin’s year so far
Wild price swings have been a defining feature of bitcoin throughout its near 13-year life. The first half of 2021 has been no different, despite hopes that greater liquidity in markets and stronger infrastructure would dampen swings.
“What we found out in the second quarter was that actually demand for bitcoin is price sensitive,” he said. “Some institutional investors started getting out of bitcoin in April … they thought bitcoin prices were too high relative to gold.”
Floods may be nearly as important as droughts for future carbon accounting
“These wet extremes have basically been ignored in this field and we’re showing that researchers need to rethink it when designing schemes for future carbon accounting,” said senior study author Alexandra Konings, an assistant professor of Earth system science in Stanford’s School of Earth, Energy & Environmental Sciences (Stanford Earth). “Specific regions might be much more important for flood impacts than previously thought.”
WHO chief calls for vaccinating at least 10 per cent of population of every country by September
”Vast inequities in the access to vaccines are fuelling a two-track pandemic. While some countries have reached a high level of coverage, many others don’t have enough to vaccinate health workers, older people & other at-risk groups,” the World Health Organisation Director General said in a virtual address to India Global Forum.
World must prepare for future crises by setting up Global Fund for Social Protection:UN expert
According to the International Labour Organisation (ILO), the majority of the world’s population — 55 percent, or 4 billion people — lacks any form of social protection. Another 16 percent, or 1.2 billion people, enjoy only partial protection. Only 35 percent of children, approximately one in three, benefit from child allowances that would ensure they receive childcare, nutrition and education.
Cyber reinsurance jump 40 % in July renewals -Willis Re
The average ransom payment made by a business to restore data after a cyber attack was $220,000 in the first quarter, up 43% from the last quarter of 2020, according to cyber security firm Coveware.
In addition to the ransom payments, cyber insurance and reinsurance policies can cover the cost of restoring the network, business interruption losses and even the hiring of a PR agency to address reputational damage.