Canadian car thefts were a C$1.2-billion ($880 million) “gift” to...
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China boosts farmer protection with nationwide insurance for major grains
The policy is aimed at improving the level of agricultural...
Singapore Airlines flight makes emergency landing in Bangkok, one dead, 30 injured
The Boeing 777-300ER plane with 211 passengers and 18 crew was...
Third of Antarctic ice shelf area at collapse risk due to global warming: Study
“The findings highlight the importance of limiting global temperature increases as set out in the Paris Agreement if we are to avoid the worst consequences of climate change, including sea level rise,” said Gilbert.
Sustainable investment group UNPRI reviews Liberty Mutual membership over Australian coal mine plan
Liberty Mutual has faced a backlash from community groups, Aboriginal traditional owners and farmers who are opposed to the development of the mine that they say will worsen climate change and carries a risk of polluting local waterways that lead out to the Great Barrier Reef.
UK launches new watchdog to keep tech giants in check
“Today is a major milestone in the path to creating the world’s most competitive online markets, with consumers, entrepreneurs and content publishers at their heart,” said UK Digital Secretary Oliver Dowden.
“The Digital Markets Unit has launched and I’ve asked it to begin by looking at the relationships between platforms and content providers, and platforms and digital advertisers. This will pave the way for the development of new digital services and lower prices, give consumers more choice and control over their data, and support our news industry, which is vital to freedom of expression and our democratic values,” he said.
Egypt seeks settlement out of court for Suez Canal blockage
The canal chief said last week the Suez Canal Authority was expecting more than $1 billion in compensation, warning the ship would not be allowed to leave the canal if the issue of damages turns into a legal dispute.
“We are discussing with them a peaceful resolution to the matter without resorting to the judiciary,” he said. He maintained that bringing the case before a court would be more harmful to the firm than settling with the canal”s management.
Reinsurers set to bear brunt of costs for Suez Canal grounding
The UK Club will cover the first $10 million of P&I losses.
Beyond that, the wider pool of P&I insurers will cover up to $100 million, at which point reinsurers such as Lloyd’s of London step in for up to $2.1 billion of claims. P&I insurers would contribute for part of a further $1 billion of cover.
Australia regulator proposes exposure limits of life insurers to offshore reinsurers
“The recent growth in life insurers placing business with offshore reinsurers has been a prudential concern, as APRA does not have regulatory authority over these reinsurers,” the regulator’s Deputy Chair Helen Rowell said.
WHO does not back vaccination passports for now – spokeswoman
Meanwhile, the United States won’t issue “vaccine passports”, White House press secretary Jen Psaki said on Tuesday.
“The government is not now, nor will we be supporting a system that requires Americans to carry a credential. There will be no federal vaccinations database and no federal mandate requiring everyone to obtain a single vaccination credential,” Psaki told reporters at house briefing.
MS Amlin acquires International Transportation Marine Agency
Following a significant period of transformation, the acquisition demonstrates the evolution of MS Amlin’s strategic ambitions, supported by its parent MS&AD Group, building selectively on its core portfolio and balancing its catastrophe exposure by investing in the high growth US speciality MGA market. By targeting mid-size, strongly performing niche MGAs underwritten by capacity from highly rated carriers, MS Amlin will provide its clients with a broader suite of products whilst deepening distribution links in a key region.
International passenger traffic down 89% in February, no sign of recovery -IATA
“International passenger traffic was down almost 89% and is showing no signs of recovery in the current environment,” IATA’s new director general Willie Walsh said at a presentation on Wednesday.
Covid leaving complex legacies that will need to be tackled: IMF officia
Vitor Gaspar, Director of the Fiscal Affairs Department at the International Monetary Fund, said said at present, the evolution of COVID-19 and its fallout on economic and social developments remain highly uncertain.