``2023 witnessed significant progress across all three pillars –...
Category:
International News
Latest
Indian Navy rescues Panama-flagged crude oil tanker after missile assault
''A mission deployed Indian Naval destroyer INS Kochi responded to...
Focus on preventing occupational accidents, diseases: WHO
A safe and healthy working environment supports mental health, and...
7% growth in global reinsurance capital in 2020, combined ratios improve: Willis Re
James Kent, Global CEO, Willis Re, said: “Such a solid development of the global reinsurance industry’s capital base would hardly have been expected earlier last year, as the COVID-19 pandemic was gathering pace. Willis Re’s analysis provides clear evidence of the strength and resilience of reinsurance market capacity. Reinsurers and insurers alike must contend with the challenges of low interest rates. But, looking through the turbulence of COVID-19 and nat cat claims, and a declining reliance on reserve releases, there is a clear improving trend in underwriting profitability.”
Berkshire Hathaway Specialty Insurance Names Idie Si as Head of Accident & Health Insurance, Asia
“Idie’s appointment reinforces our commitment to the A&H space across the region, where we see tremendous opportunities to further serve our brokers and customers.”
‘Average’ Atlantic hurricane season to reflect more storms
The updated averages for the Atlantic hurricane season have increased with 14 named storms and 7 hurricanes. The average for major hurricanes (Category 3, 4 or 5) remains unchanged at 3. The previous Atlantic storm averages, based on the period from 1981 to 2010, were 12 named storms, 6 hurricanes, and 3 major hurricanes.
Aon launches innovative industry collaboration to protect global COVID-19 vaccine shipments
The solution provides transparent cargo insurance coverage for COVID-19 vaccines by combining sensor data and analytics. The offering enhances All Risk Marine Cargo insurance with timely payment for doses that fall outside of the agreed-upon temperature range while being transported or stored, enabling more effective risk management and claims support. Real-time reporting of any temperature deviation will also provide for the mitigation of losses and help maximize the number of doses that are administered to the public.
Fed chair says cyberattacks main risk to US economy
Powell stressed that the Federal Reserve was considering different types of scenarios: “There are scenarios in which a large payment utility, for example, breaks down and the payment system can’t work. Payments can’t be completed. There are scenarios in which a large financial institution would lose the ability to track the payments that it’s making and things like that,” he said.
Microsoft to buy AI firm Nuance Communications in $19.7 bln deal in healthcare push
The deal comes as both companies, which partnered in 2019 to automate clinical administrative work such as documentation, gain from a boom in telehealth services as medical consultations shifted online due to the COVID-19 pandemic.
Nepal battles worst forest fires in years as air quality drops
A senior official of Nepal’s National Disaster Risk Reduction and Management Authority said that wildfires were burning in at least 60 places across 22 of Nepal’s 77 administrative districts.
The air quality index (AQI) in Kathmandu was at an unhealthy level of 174 on Friday, according to data published on iqair.com, a site that monitors air quality. An AQI level below 50 is considered good.
Strong earthquake kills 6 people in Java, Indonesia; no tsunami warning
It was the second deadly disaster to hit Indonesia this week. On Sunday, a downpour triggered by Tropical Cyclone Seroja killed at least 165 people and damaged thousands of houses. Some were buried in either mudslides or solidified lava from a volcanic eruption in November, while others were swept away by flash flooding.
Covid-19 vaccine shortages hit 60 poor countries in ‘shocking imbalance’
On Friday, the head of the World Health Organization slammed the “shocking imbalance” in global COVID-19 vaccination. WHO Director General Tedros Adhanom Ghebreysus said that while one in four people in rich countries had received a vaccine, only one in 500 people in poorer countries had gotten a dose
The vaccine shortage stems mostly from India’s decision to stop exporting vaccines from its Serum Institute factory, which produces the overwhelming majority of the AstraZeneca doses that COVAX counted on to supply around a third of the global population at a time coronavirus is spiking worldwide.
COVAX says India’s Serum Institute bound to supply virus vaccines
SII partner AstraZeneca has already issued it a legal notice over delays to other shipments, even as many Indian states have complained of a shortage facing priority recipients.