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Nord Stream sues insurers in London over 2022 pipeline blasts
Nord Stream AG names Lloyd’s Insurance Company and Arch Insurance...
Tesla, rivals get low marks for automated-driving technology
The US based IIHS, a safety research arm of the insurance industry,...
EU regulator approves Moderna vaccine as fears grow over virus variants
The EU has ordered 160 million doses of the shot developed by Moderna, a U.S. biotech company, enough to vaccinate 80 million people in its 27 member states.
Peruvian minister raises ‘controversy’ over Pfizer vaccine liability clause
Several other countries, including Brazil and Argentina, have raised concerns about liability waivers in their negotiations with Pfizer.
World Bank officials said on Tuesday they were working with countries to address the liability waiver issue which they said had emerged as one of the key obstacles to sealing vaccine supply deals.
AM Best ranks UnitedHealth Group and Allianz SE as world’s largest insurers
Allianz SE and Prudential Financial, Inc. jumped ahead of AXA S.A. into the No. 1 and No. 2 spots, respectively, in AM Best’s ranking by 2019 non-banking assets.
Aviation reinsurance rates rise by up to 250% – report
Insurers and reinsurers face claims from the crashes relating to hull and product liability that could amount to more than $2 billion, a large sum in a relatively small insurance sector, Willis Re International chair James Vickers told Reuters.
Aviation underwriters are also suffering from lower premiums due to worldwide lockdowns and travel bans, as insurance contracts are often negotiated based on the amount of time planes spend in the air.
S. African insurers may fund vaccines for broader population
Legislation has been amended to allow the companies to fund shots for people who don’t have medical insurance and talks are now focused on the number of those who may benefit, said Stavros Nicolaou, head of the Health Workgroup for B4SA, a grouping of South Africa’s biggest business organizations. In addition to medical insurers, companies such as miners may contribute funds so their workers can be covered, he said.
Insurer Centene to buy Magellan in $2.2 billion mental health push
The move by Centene to expand mental health support comes as more than two out of five Americans are struggling with mental or behavioral health issues associated with the pandemic, the company said.
“I was thinking about it long before the pandemic, the pandemic just emphasized it,” said Centene Chairman, President and Chief Executive Michael Neidorff.
Centene’s patients, after being diagnosed with a serious illness, such as cancer, would benefit from having increased access to mental health care, Neidorff added.
Brazil’s Braskem settles lawsuits over sinking city for $1.75 bln
A federal study found that Braskem’s salt mines were the cause of cracks that destabilized homes, although Braskem had previously said that the study is flawed. The damages have affected more than 9,000 homes and some 17,000 residents must be relocated.
World risks ‘moral catastrophe’ if COVID shots delayed in Africa, its CDC chief says
Cases of the new coronavirus increased by nearly 19% since last week and deaths increased by 26%, according to Africa CDC data. Africa has recorded 2.7 million coronavirus infections and 64,000 deaths as of Thursday, it says.
South Africa, where a new variant of the virus has been detected, recorded 82,000 cases in the past week, he said.
MS Amlin Underwriting launches Phoenix 1 Re Pte,first locally issued ILS to focus solely on APAC region
Phoenix 1 Re Pte. Ltd. is the landmark first locally issued ILS to provide capacity to a local cedant, solely focused on the Pan-Asia region.
Will Ho, CEO, MS AAP said: “ Through the creation of a remote risk facility, which caters to regional business, MS AAP will now be able to leverage larger capacity that we can deploy to our core clients on their reinsurance programmes as demand and growth increases in Asia. Phoenix 1 Re is an important long-term strategic initiative for MS AAP as we continue to seek ways to build capacity and relationships with capital market partners.”
A COVID-19 shot for $150? Online scams surge as slow vaccine rollout frustrates
Scams include emails promising entry to supposedly secret lists for early vaccine access and robocallers impersonating government agencies. Message boards on the so-called dark web have added COVID-19 vaccines to more traditional illicit goods for sale.