Digital Markets Act breaches could cost the companies as much as...
Category:
International News
Latest
US sues Apple, alleging it illegally monopolized the smartphone market
The Justice Department said Apple charges as much as $1,599 for an...
Hackers carrying out disruptive attacks on water systems: US
In a letter released Tuesday, National Security Advisor Jake...
Reeling from coronavirus, Asia’s poultry farmers battle bird flu outbreak
Bird flu cannot infect people through poultry consumption, and the H5N8 virus is not known to have ever infected humans, but consumers are still fearful, said Uddhav Ahire, chairman of Anand Agro Group, a poultry company based in the western city of Nashik.
Market conditions harden further at January 2021 Renewals
Capital injections of over USD20 billion and a recovery in financial markets helped to maintain the reinsurance capacity at the levels of early 2020, proving the resilience of the market, Fitch.
The question now is how sustainable the price increases are. In the run-up to the renewals, reinsurers were optimistic of prolonged market hardening, but some are now less sure they are right:S&P
SCOR partners with CyberCube for developing a cyber risk management tool
Jean-Paul Conoscente, CEO of SCOR P&C, commented,“In line with our Quantum Leap strategic plan, under which we are accelerating our use of new technologies, this partnership with CyberCube is a perfect example of how SCOR leverages data management and analysis capabilities to build its knowledge and deliver optimal service to clients.This integrated Cyber platform is a major development that will enable us to further deepen and broaden our management of this key risk in the future.”
Microsoft, Cigna form coalition for digital records of COVID-19 vaccination
The project, called Vaccination Credential Initiative, aims to help people get encrypted digital copies of their immunization records stored in a digital wallet of their choice, the companies said in a statement on Thursday.
UK regulators approve Lloyd’s multi Insurance Special Purpose Vehicle for new capital
The approval is a key milestone for the Future at Lloyd’s strategy, which aims to create an insurance market that attracts new forms of capital. The new platform will make it easier for investors to access the Lloyd’s market and will benefit investors by offering a more transparent and efficient capital management process.
Toyota settles US probe into delayed emissions defect reports for $180 million
The government said the settlement resolved Toyota’s “systematic, longstanding violations of Clean Air Act emission-related defect reporting requirements, which require manufacturers to report potential defects and recalls affecting vehicle components designed to control emissions.”
Acting U.S. Attorney Audrey Strauss in New York said: “Toyota shut its eyes to the noncompliance, failing to provide proper training, attention, and oversight to its Clean Air Act reporting obligations.”
Ebola vaccines stockpiled against future outbreaks
In a statement, WHO, Doctors Without Borders, UNICEF and the International Federation of Red Cross and Red Crescent Societies said they were establishing an emergency reserve of about 500,000 doses; nearly 7,000 are available now and more will be added throughout the year and beyond. Financial support for the vaccine stockpile was provided by the vaccines alliance GAVI.
China-backed AIIB to support COVID-19 vaccine rollout, expects steady lending this year
The World Bank in October approved $12 billion to help developing countries buy and distribute COVID-19 vaccines, tests, and treatments. The Asian Development Bank launched a $9 billion vaccine facility in December.
COVID-19 spurs calls to boost protections for millions of homeworkers
“Homeworkers have been invisible for too long. But the explosion in homeworking during the pandemic has highlighted the poor working conditions experienced by millions worldwide,” ILO economist Janine Berg told the Thomson Reuters Foundation.
Homeworkers earn on average 13% less than non-homeworkers in Britain, 22% less in the United States, 25% less in South Africa and about 50% less in Argentina, India and Mexico, the ILO said in a report.
Ship insurers primed to raise rates after Red Sea attacks
“We are seeing increased rates for vessels making port calls in the Red Sea due to concerns over risk of attack by militia groups, whereas previously this was of an issue of more concern in the Arabian Gulf,” said Mike Ingham with insurance broker Gallagher. “This will be impacting vessels travelling to Red Sea ports such as Jeddah.”