The fine is the biggest ever for an Australian airline and among...
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El Niño sees African Union Insurance Agency pay out $60 million
El Niño is caused by ocean currents that bring dry and hot weather...
UK tells tech firms to ‘tame algorithms’ to protect children
The plan by regulator Ofcom is one of more than 40 practical steps...
Apple stopped over $1.5B in potentially fraudulent transactions in 2020
Apple said it relies on a sophisticated system that combines machine learning, artificial intelligence, and human review by expert teams to moderate these ratings and reviews to help ensure accuracy and maintain trust.
Since 2020, Apple has processed over 1 billion ratings and over 100 million reviews, and over 250 million ratings and reviews were removed for not meeting moderation standards.
Pandemic could have been prevented: Expert panel on WHO’s handling of Covid
The WHO should have declared the new coronavirus outbreak in China an international emergency earlier than Jan. 30, 2020, but the next month was “lost” as countries failed to take strong measures to halt spread of the respiratory pathogen, it said.
Arthur J. Gallagher & Co to acquire Willis Re and WTW’s corporate risk, broking, health and benefits services for $3.57 billion
Gallagher has agreed to purchase a group of businesses from Willis Towers Watson that includes:
Willis Re operations globally, excluding operations in mainland China and Hong Kong;
Global cedent facultative reinsurance, excluding operations in mainland China and Hong Kong;
Corporate Risk and Broking business unit known as Inspace globally and certain business undertaken for Aerospace Manufacturing clients;
India may overtake China as most populous country sooner than UN projections of 2027: Report
India is expected to add nearly 273 million people to its population between now and 2050, a UN report said in 2019, forecasting that the country will cross China as the world’s most populous country by 2027.
EU regulator to test insurers for prolonged COVID economic hit
The European Insurance and Occupational Pensions Authority (EIOPA) said it will test 44 insurers and reinsurers for their resilience to the economic consequences of the pandemic and a “lower for longer” interest rate landscape.
Insurers are exposed to the economic environment through the returns they can earn from investing insurance premiums, as well as from the level of demand for their products.
“We are still in the middle of the crisis,” EIOPA Executive Director Fausto Parente told a media conference.
“The insurance sector is for sure not immune.”
Global renewable energy grew at fastest pace in two decades in 2020 – IEA
New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) last year, the largest year-on-year increase since 1999, even though there were supply chain disruptions and construction delays due to the impact of COVID-19.
China accounted for 50% of renewable energy capacity growth last year and will account for 45% this year and 58% in 2022, the report said.
AXA XL appoints Anish Jadav as CUO, Retail P&C, UK & Lloyd’s market
In his new role, Jadav will be responsible for developing and executing AXA XL’s Retail P&C underwriting strategy and optimising product offering and profitability.
Moody’s upgrades outlook for global aviation industry to ‘positive’
“While the continuing pandemic means there is a risk of further disruption to air travel in various countries at various times, we expect an increase in vaccinations to lower border restrictions and increase demand for air travel over the next 12 to 18 months,” Moody’s said in a note today.
Indian Covid variant B.1.617 detected in 44 countries, says WHO
However, Ministry of Health and Family Welfare clarified on Wednesday that WHO has not associated the term “Indian Variant” with B.1.617, now classified as “Variant of Concern”.
Miller launches new exclusive Professional Indemnity product for freelance solicitors
Ed Pickard, Head of UK Professions, commented: “This new product will enable Miller to support freelance solicitors in accessing the coverage they need to operate. Our team of solicitors’ PI insurance specialists are excited to be able to offer this to our expanding portfolio of clients, and would encourage solicitors to get in touch to learn how Miller can find them the competitively priced cover they need to protect against claims and meet the requirements of the regulator.”