Industry group Airlines for Europe (A4E) said in a statement that...
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Chubb to pay $350 million to Maryland govt for Baltimore Bridge collapse
Lloyd’s of London insurers Hiscox and Lancashire do not expect...
India must expand Universal Health Coverage for ageing population, maintain economic growth: ADB Report
While the South Korea and Thailand have achieved universal health...
China orders fintech firms to stick to the rules as clampdown widens
The companies will have to set up financial holding companies if they meet requirements to do so, as Alibaba’s fintech affiliate Ant Group was recently forced to do, a move that tightens capital requirements.
They should also draft “business rectification” plans to comply with regulations, cut “improper” links between their payment tools and other financial products, break “monopolies” in holding data, and prevent risks in internet mutual aid businesses.
U.S. Labor Secretary supports classifying gig workers as employees
“We are looking at it but in a lot of cases gig workers should be classified as employees… in some cases they are treated respectfully and in some cases they are not and I think it has to be consistent across the board,” Walsh told Reuters in an interview, expressing his view on the topic for the first time.
“These companies are making profits and revenue and I’m not (going to) begrudge anyone for that because that’s what we are about in America. But we also want to make sure that success trickles down to the worker,” he said.
No ransomware silver bullet, crooks out of reach
Stricken in the United States alone last year were more than 100 federal, state and municipal agencies, upwards of 500 health care centers, 1,680 educational institutions and untold thousands of businesses, according to the cybersecurity firm Emsisoft. Dollar losses are in the tens of billions. Accurate numbers are elusive. Many victims shun reporting, fearing the reputational blight.
Unemployment is falling in rich countries, but not every job is coming back
The pandemic has pushed out older employees and is deepening inequality as lower income workers feel the brunt of the crisis. Economists warn that there’s still a way to go before global employment is back to where it was before the pandemic.
Brazil pharma flags ‘retaliation’ risk over bill to drop vaccine patents
In a joint statement, five of Brazil’s leading pharmaceutical associations sided with his administration.
“The approval of a bill that allows for the weakening of intellectual property could lead to international retaliation and reduce the supply of pharmaceutical inputs.We cannot support measures that could generate more instability and scenarios that may have irreversible consequences, in the short, medium and long term for Brazil,”it said.
Germany pledges to adjust climate law after court verdict
Germany’s Constitutional Court said Thursday that the government must set clear goals for reducing greenhouse gas emissions after 2030. The verdict was a victory for campaigners, who had argued that the measures put forward so far are insufficient to meet the Paris climate accord’s goal of keeping global warming well below 2 degrees Celsius (3.6 Fahrenheit), ideally no more than 1.5 C (2.7 F) by 2100.
Liberty Mutual puts Australian coal project on hold
“As part of our investment processes, we’ve been evaluating alternatives for our Baralaba investment for some time and will not be submitting an environmental impact assessment for the South Mine at this stage,” a Liberty Mutual spokeswoman said. “We remain committed to collaborating with all stakeholders,” she added in emailed comments.
Financial firms should disclose emissions from activities they fund, group says
Worst-performing was the insurance industry, CDP said, with just 27% of companies the group had assessed providing plans to achieve the climate goals through their portfolios.
AM Best places credit ratings of Singapore Re under review with developing implications
This Credit Rating (rating) action follows an announcement made on the Singapore Exchange (SGX) on 21 April 2021 that Fairfax Asia Limited’s (Fairfax Asia) recent voluntary cash offer to purchase all issued and paid-up ordinary shares in the capital of Singapore Re, other than those already held by Fairfax Asia and other Fairfax Financial Holdings Limited (Fairfax group) companies, has been declared unconditional.
Chubb and Marsh partnership to provide $150 million cover for the COVAX Program for 92 low and middle-income countries
Through Chubb’s and Marsh’s collaboration, up to $150 million in insurance is provided for the COVAX No Fault Compensation Program to cover compensation payments to eligible individuals in the 92 lower-income countries and economies, known as the Gavi COVAX Advance Market Commitment (AMC) eligible economies.
Insurance broker Marsh led the global placement of the bespoke solution. Chubb is the lead insurer, supported by a further 10 insurers located in the U.S., U.K., Germany, Ireland, Switzerland and Bermuda.