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Africa public health body declares mpox emergency
The Africa Centres for Disease Control and Prevention (Africa CDC)...
Major wildfire rages out of control on the fringes of the Greek capital
Wildfires are frequent in Greece during its hot, dry summers, but...
UN launches Decade on Ecosystem Restoration to counter ‘triple environmental emergency’
With humanity facing a “triple environmental emergency” of biodiversity loss, climate disruption and escalating pollution, now is the time to act, UN Secretary-General António Guterres said in a video message for the online virtual gala.
EU takes on Facebook over ad data
* Alphabet’s Google: The world’s most popular internet search engine has been hit with total fines of 8.25 billion euros ($10 billion) in more than a decade of battles with the Commission over its shopping service, Android mobile operating system, and online advertising practices. The first fine came in 2010.
Brit launches new consortium for placement of “Marine War breach call risks”
Keel offers up to $152.2m of capacity per risk and provides instant quotes that are fully sanctioned screened – an area of increasing importance in the growing regulatory environment affecting marine war risks.
Summit secures additional $2.4 bln for COVID shots for poor countries
The funds will allow COVAX to secure 1.8 billion fully subsidised doses for delivery to lower-income countries in 2021 and early 2022, enough to protect 30% of adults in those nations, GAVI said in a statement.
“We have taken a big step towards ‘one world protected’,” said Jose Manuel Barroso, GAVI chairman. The fresh funds brought total COVAX financing to $9.6 billion, he added.
Burnt-out container ship sinks in sea; Sri Lankan Navy bracing for possible oil spill
The resultant environment and marine ecological pollution is regarded as the worst the island had seen. The ship’s cargo, comprising chemicals and nitric acid, were termed hazardous to the marine ecology.
At least 8 containers had fallen in the sea when it was anchored and went up in flames some 9 nautical miles off the Colombo port.
Ransomware & aggregation issues in US call for new approaches to US Cyber Risk : AM BEST
The loss ratio for cyber insurance rose dramatically in 2020, to 67.8%, from 44.8% in 2019. However, the increase was not limited to just a few insurers—the loss ratio rose for 15 of the 20 largest cyber insurers.
“The rate increases for cyber insurance outpaced that of the broader property/casualty industry, but the increase in cyber losses outstripped the rate hikes, which suggests more trouble for 2021 as ransom demands continue to grow,” said Sridhar Manyem, director, industry research and analytics.
Chasing yield, U.S. private equity firms nudge up risk on insurers
PE-insurance marriages can be joyous: Asset managers have skills and access to investments that insurers lack, and insurers provide cheap funding. PE firms also earn significant fees, even though their investments do not always capture outsized returns.
PE firms are nudging up risk on a large pool of money. They now own 7.4% of all U.S. life and annuity assets, or $376 billion, double the tally in 2015, credit agency AM Best said. Pending deals could add $250 billion this year, pushing PE ownership to 12%.
Risk of COVID-19 surge threatens Africa’s health facilities
Only around two per cent of the population has received at least one dose of COVID-19 vaccine, compared with the 24 per cent global figure.
In the last two weeks, the continent has recorded a 20 per cent increase in coronavirus infections, compared to the previous fortnight.
“The pandemic is trending upwards in 14 countries and in the past week alone (and) eight countries witnessed an abrupt rise of over 30 per cent in cases,” WHO said in a statement.
Aon to sell its U.S. Retirement Business to Aquiline and its Aon Retiree Health Exchange Business to Alight
Aon and Willis Towers Watson have previously announced the divestiture of Willis Re, a set of Willis Towers Watson corporate risk and broking and health and benefits services, and Aon’s retirement and investment business in Germany.
US SC rejects Johnson & Johnson’s appeal of $2 billion penalty in baby powder cancer case
An investigation found that J&J knew for decades that asbestos, a carcinogen, was present in its talc products. Internal company records, trial testimony and other evidence showed that from at least 1971 to the early 2000s, J&J’s raw talc and finished powders sometimes tested positive for small amounts of asbestos.
The company said in May 2020 it would stop selling its baby powder talc in the United States and Canada, citing changes in consumer habits and what it called “misinformation” about the product’s safety amid numerous legal challenges.