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FM Global unveils updated brand to reflect its growth and commitment to protecting client risk
“We believe that by uniting our businesses under the FM brand, we...
World Bank eyes first ‘drought’ bond in next 12-18 months
“We would love to do something in the drought space, that is...
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.”
Underwriters puzzle over how to make pandemics insurable again
U.S. company SpottedRisk has devised a model built on years of data on the political and economic environment of film locations in 150 countries, as well as a year’s COVID-19 shutdown data, to come up with a pricing mechanism to cover the risk of production stopping due to the pandemic.
Britain, the European Union and the United States are all looking at arrangements in which cover from commercial insurers would be backed by government reinsurance schemes. Such schemes could be less costly than business bailouts but the process of developing them is slow, as governments grapple with the problems at hand.
Europe dares to reopen as 200 millionth vaccine dose delivered
With 200 million vaccine doses delivered, the European Union is on track to achieve its goal of inoculating 70% of its adult population by summer, Commission President Ursula von der Leyen tweeted on Sunday.
China’s population growth slows; nation becomes older and urbanised
The share of the working-age population — those between ages of 15 and 59 — slumped to 63.4% in 2020 from more than 70% a decade ago, according to the census. Residents aged 60 and above accounted for 18.7% of the population in 2020, up from 13.3% in 2010.
French banks told to speed up response to climate change
Other financial watchdogs around the world will also be conducting similar tests on the finance industry to help to reduce the impact of climate change on economies. Banks and other finance companies will have to disclose to investors the impact of climate change on their balance sheets under proposed European Union rules.
Insurers warn government Canada’s flood mapping must not take a decade
Prime Minister Justin Trudeau pledged sweeping climate action during his re-election campaign last year, including C$150 million ($112.2 million) for flood mapping. The federal budget is expected at the end of March.
“Flooding is by far the single greatest peril facing Canadians as a result of climate change,” Craig Stewart, vice president of federal affairs for the Insurance Bureau of Canada, told Reuters.
WHO experts voice “very low confidence” in some Sinopharm COVID-19 vaccine data
The document includes summaries of data from clinical trials in China, Bahrain, Egypt, Jordan and the United Arab Emirates.
The “evidence assessment” document was prepared by the WHO’s Strategic Advisory Group of Experts (SAGE) for its evaluation of the Sinopharm shot, authorised by 45 countries and jurisdictions for use in adults, with 65 million doses administered. The experts review evidence and give recommendations on policy and dosages associated with a vaccine.
Egyptian court rejects appeal against detention of ship in Suez Canal
The Ever Given, one of the world’s largest container ships, got jammed across the canal on March 23 and remained stuck for six days, stopping traffic in both directions.
It has been held in a lake between two stretches of the canal since being dislodged on March 29, amid a dispute over a $916 million claim by the Suez Canal Authority (SCA) against Japanese owner Shoei Kisen for compensation over the incident.